The US dollar regained its footing and rose to weekly highs on the back of a resurgence of Trump-infused momentum, all ahead of key data releases in the second half of the week as well as comments from US policymakers. the Fed.
Here’s what you need to know on Thursday, November 21:
The US Dollar Index (DXY) reversed three consecutive daily declines and approached the key 107.00 barrier amid higher returns. The usual initial jobless claims are expected, followed by the Philadelphia Fed Manufacturing Index, Existing Home Sales, and the CB Leading Index. Additionally, the Fed’s Hammack and Goolsbee are expected to speak.
He EUR/USD weakened further and approached the key support of 1.0500 due to the strength of the Dollar. The advanced consumer confidence index is next on the agenda, followed by speeches from Cipollone, Buch, Elderson and Lane of the ECB.
He GBP/USD It left behind a two-day rally and faced renewed downward pressure, prompting it to revisit the 1.2630 zone. Public sector net borrowing figures will be published alongside the CBI’s industry trends orders and the BoE’s Mann speech.
Rising yields and a firm tone in the US dollar lifted the USD/JPY to three-day highs just below the 156.00 barrier. The usual weekly foreign bond investment figures will be revealed ahead of BoJ’s Ueda speech.
AUD/USD succumbed to the US Dollar’s bullish momentum and broke below the 0.6500 support once again. Preliminary manufacturing and services PMIs are expected from Judo Bank in Australia.
WTI prices gave up some of the weekly bullish momentum, retreating below the $69.00 per barrel mark despite persistent geopolitical effervescence.
The bullish bias in Gold continued, taking the metal to multi-day highs north of the $2,650 per troy ounce mark. Silver prices saw their recent advance lose momentum, retreating to two-day lows in the area below $31.00 per ounce.
