Will the U.S. dollar start to move after the Thanksgiving holiday? We need to stay vigilant.
27.11.2023
- U.S. 5-Year Treasury Auction
- France: Number of Unemployed
Last weekend, volatility in the U.S. dollar declined as U.S. markets operated on a shortened trading schedule following Thanksgiving. The USD/JPY pair traded within a very narrow range of 149.203 to 149.711, with prices hovering just below the 150-yen level.Furthermore, on the 4-hour chart, USD/JPY is forming an ascending triangle above the 20-period moving average, so it will be important to watch whether the U.S. dollar begins to move following the Thanksgiving holiday.
European currencies saw the euro rise against the U.S. dollar, despite the fact that Germany’s third-quarter real GDP, released on the 24th, worsened by 0.1 percentage points year-over-year, from -0.3% to -0.4%.The EUR/USD pair rose from 1.0894 to 1.0947, rebounding from the 10-day moving average (MA) line. On the daily chart, the RSI has touched 70, and on the weekly chart, it is once again trending upward toward 70. We will be closely monitoring whether the euro’s rise against the U.S. dollar will continue.
Today, at 15:00, Germany’s Import Price Index; at 16:00, Sweden’s Household Loans; at 17:30, Hong Kong’s Trade Balance; at 20:00, France’s Unemployment Figures; at 21:00, Mexico’s Trade Balance;at 10:00 PM, U.S. building permits; at 11:00 PM, Israel’s benchmark interest rate and remarks by ECB President Lagarde; at 12:00 AM, U.S. new home sales; at 2:00 AM, a U.S. 2-year Treasury auction;at 27:00, a U.S. 5-year Treasury auction; and at 30:00, South Korea’s Consumer Confidence Index. We’ll need to pay close attention to see if the U.S. dollar starts to move following the Thanksgiving holiday.
Author: Keisuke Sakurai
