Likely to be a quiet affair amid the Thanksgiving holiday
RIP legend...
The dollar was arguably the big loser in trading yesterday and while the moves were relatively modest, they may just be the start of a further technical breakdown.
The most notable being that EUR/USD managing a close above 1.1900 with commodity currencies also still looking poised against the greenback for the most part.
Cable got a bounce of its 100-hour moving average for a third time this week as buyers try stay poised in search of a firmer test of the 1.3400 level.
Though not my favourite go-to, the dollar index is also looking rather precarious:
Equities were more mixed in general and with the market largely to be on holiday mode already for the rest of the week amid Thanksgiving, there might be little to really extrapolate from the next few sessions before we get to the weekend.
0700 GMT - Germany December GfK consumer confidence
Prior release can be found here. Amid tighter restrictions set to be prolonged, consumer morale and optimism is expected to ease further towards the year-end. A minor data point.
0745 GMT - France November consumer confidence
Prior release can be found here. Similarly in France, as the virus situation holds up and tighter restrictions are needed beyond the end of this month, consumer confidence is expected to ease further similar to business confidence earlier in the week.
0900 GMT - Eurozone October M3 money supply data
Prior release can be found here. Broad money growth is to keep at elevated levels as the ECB continues to flush the system with liquidity in dealing with the virus fallout.
1230 GMT - ECB publishes the account of its October policy meeting
The October decision can be found here. There shouldn't be much that we don't already know since the meeting, as we have heard from many ECB policymakers since then. Hence, the minutes here should be mostly a reiteration of that.
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
