Why euro hasn't fallen yet?

•      Why euro hasn't fallen yet?

    •      I believe that in order to answer this question, we have to look at three euro-crosses, EUR/JPY, EUR/GBP and EUR/CHF.
•      Euro/yen has been advancing since Oct. 31st when the Bank of Japan introduced further stimulus measures, to reach levels last seen in 2008.
•      EUR/GBP moved higher following the Bank of England’s disappointing inflation report.
•      EUR/CHF has seen speculative selling, as the rate moved towards the Swiss National Bank floor. The above reasons made the euro-bears to rethink their stance, at least in the short-term.

•      Oil prices moved a bit higher on Thursday and continued to advance in early European hours, as investors weighed the likelihood that at OPEC summit on November 27.

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     Overnight, New Zealand’s credit card spending accelerated 1.3% mom in             October, from +0.2% mom in September.

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     As for indicators:

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•              In Canada, the CPI rate for October is expected remain unchanged at 2%, in line with the Bank of Canada target. This could prove CAD-supportive.
•             Speakers: ECB President Mario Draghi and Governor Jens Weidmann speak at the European Banking Congress.