XE Market Analysis: Europe – Nov 02, 2015

The dollar majors have been steady in early-week, early-month trade. EUR-USD has plied a narrow range in the low-to-mid-1.10s, never threatening Friday’s peak at 1.1072. USD-JPY edged below Friday’s low in making 120.25 before repairing toward 120.50. Investor sentiment remained sour, with Chinese PMI data falling short of expectations, which set the scene for stock market losses, and, in turn, a firmer yen. The AUD managed to hold up despite this backdrop, trading in the mid-0.71s against the USD. Markets will be focused on incoming PMI survey results out of the major economies.