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US markets were closed due to the Thanksgiving holiday. Markets will work shortened hours on Friday, and muted trading is expected to continue.
Economic Data
ANZ-Roy Morgan Consumer Confidence was up 1.4pts to 107.4 on the second weekend of November. Consumer Confidence is below the 2021 weekly average of 108.2. However, Consumer Confidence is now 2.9 points higher than the same week a year ago, November 21/22, 2020 (104.5).
Other Developments
The bullish dollar’s momentum took a breather, but it was able to maintain its leadership. The EUR/USD pair surged to 1.1229, ending the day just above the 1.1200 figure. The coronavirus is taking its toll on the region, spurring concerns about the economic recovery.
A number of Eastern European countries opted for strict lockdowns, while France announced on Thursday booster shots, refraining from imposing restrictions. Portugal declared a state of disaster and announced new restrictions due to the rise in cases, while Germany is expected to announce a decision on the matter on Friday, as cases in the country stand at record highs.
The GBP/USD fell to 1.3304, a fresh 2021 low, to end the day pretty much unchanged in the 1.3320 price zone, undermined by Brexit-related concerns. The French Fishing Association Body would be taking action on Friday to block French ports, and the Channel tunnel as the UK failed to grant fishing licenses.
USD/JPY trades in the 115.30 area, unchanged on a daily basis. Commodity-linked currencies remained unchanged vs the greenback, with the AUD being the weakest.
There was no activity in gold markets, with the bright metal steady around $1,790 a troy ounce. Crude oil prices ticked lower, although the barrel of WTI held above $78.00.
Also Read
ANZ-Roy Morgan Consumer Confidence Rises
ECB Expected To Raise Inflation Forecast Again
USD Continues Corrective Movement
Turks Switch Savings to US Dollars as Lira Collapses
Could Brexit Developments Impact The Pound?
BoE’s Bailey: Factors Causing Inflation Temporary
November Employment Expected To Increase By 600K
Bundesbank Warns Of Overblown property Prices
