Trading news

New Zealand ANZ – Roy Morgan Consumer Confidence increased to 98.4 in November from previous 92.4

Gold (XAU/USD) remains firm during the North American session on Thursday amid a low-volume trading session as US markets remain closed in observance of the Thanksgiving holidays. At the time of writing, XAU/USD trades at $4,158, virtually unchanged.

The US Dollar (USD) navigated an inconclusive range near recent lows, as volatility remained scarce and trade conditions thin in light of the Thanksgiving Day holiday on Thursday. In the meantime, expectations for another rate cut by the Federal Reserve in December remained well in place.

The Australian Dollar (AUD) remains on the front foot against the US Dollar (USD) on Thursday, as traders lean into expectations that the Reserve Bank of Australia (RBA) will keep policy steady at its December meeting while maintaining a hawkish bias.

USD/CHF trades around 0.8050 on Thursday at the time of writing, virtually inchandeg for the day.

External Bank of England (BoE) MPC Member Megan Greene spoke at the Goodbody Annual Equity Conference in Dublin on Thursday. She said that although inflation has stabilized, her big concern is around second-round effects.

Silver (XAG/USD) drifts slightly lower on Thursday, trading around $53.25, down 0.15% on the day at the time of writing. The white metal remains range-bound amid thin liquidity associated with the US Thanksgiving holiday.

The Japanese Yen trims part of its earlier recovery against the US Dollar on Thursday as the Greenback shows resilience in muted, holiday-thinned trading. At the time of writing, USD/JPY is hovering around 156.30, edging higher modestly after briefly touching a daily low of 155.73.

EUR/JPY trades around 181.25 on Thursday at the time of writing, as the market digests a mild boost for the Euro (EUR) from the latest European Central Bank (ECB) Accounts alongside a still-challenging backdrop for the Japanese Yen (JPY).

The GBP/USD remains steady at around 1.3230 as market participants digest the UK’s autumn budget amid thin trading liquidity conditions with US markets remaining closed in observance of Thanksgiving Holiday. The pair is flat at 1.3232 virtually unchanged.

The Euro (EUR) trades flat against the British Pound (GBP) on Thursday after a sharp slide on Wednesday following the United Kingdom’s Autumn Budget. At the time of writing, EUR/GBP is trading near 0.8761, holding close to a one-month low as sentiment continues to favour Sterling.

The Economist described it as a ‘bodge-it budget’ that doesn’t give Britain what it needs. The FT calls it a ‘Spend now, pay later’ budget, which merely delays fiscal pain. The Guardian calls it a ‘live now, pay later’ budget and wonders what happens when ‘later’ arrives.

Canada Current Account came in at -9.68B, above forecasts (-16.5B) in 3Q

GBP/JPY holds steady near 207.00 on Thursday after touching a fresh year-to-date high on the previous day, with sentiment leaning in favour of the British Pound (GBP) following the United Kingdom’s Autumn Budget.

Russia Central Bank Reserves $ down to $729.1B from previous $734.1B

The account of the European Central Bank’s (ECB) monetary policy meeting held in Florence on 29-30 October shows that policymakers judged the economic and inflation outlook to be largely consistent with the September projection baseline, with uncertainty still elevated.

The New Zealand Dollar is coming under growing bullish pressure against the US Dollar, after breaking above the 0.5680 resistance area.

Gold (XAU/USD) is treading water on Thursday as a modest rebound in the US Dollar (USD) weighs on the precious metal. At the time of writing, XAU/USD is trading around $4,160, hovering near two-week highs reached on Wednesday, with the metal up nearly 2.20% so far this week.

Mexico Trade Balance, $ registered at $0.606B above expectations ($-0.45B) in October

Mexico Trade Balance s/a, $ rose from previous $-0.831B to $1.411B in October