The US session and the trading day is ending with the:

  • US stocks higher
  • US yields lower
  • US dollar lower.

That combination led to gold higher. Oil higher.

The markets were in synch as trading ticks down to the Thanksgiving day holiday on Thursday. For your guide, the US bond and stock markets will be closed on Thursday. On Friday, the stocks in the US will close at 1 PM as will futures pits in Chicago. Debt markets will also close early on Friday.

You can expect normal coverage at Forexlive on Thurday during our Asian and London session but the US session will die down as the markets die down in Europe. Friday will be more normal with posting winding up with the stock market close on Friday.

Looking at the US stock market, the major indices all closed higher with the Nasdaq index going from the worst to the best (or tied for the best) helped by the declining yields and risk on shift. The final numbers are showing:

  • Dow up 1.18%
  • S&P up 1.36%
  • Nasdaq up 1.36%

In the US debt market, the yield curve continued to invert with the 2-10 year spread moving to -76 basis points near the close. That is the most inverted going back to 1988 at the least (as far as my data goes).

US yields
US yield are lower with continued inversion

In other markets:

  • Gold is up $3 at $1740.89
  • Silver is up $0.24 or 1.17% at $21.06
  • Oil is trading at $81.22
  • Bitcoin is back above $16000 at $16126.

In the forex, the NZD is the strongest ahead of their RBNZ rate decision at 8 PM ET, where the central bank is expected to hike rates by 75 basis points. The USD is the weakest, with declines of -0.57% to -0.92% vs the major currencies.

The strongest to the weakest of the major currencies