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 were open for a shortened session following Thanksgiving.USD/JPY 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-day moving average, so it will be important to watch whether the dollar begins to move after the Thanksgiving holiday.
Despite the fact that Germany’s third-quarter real GDP, released on the 24th, worsened by 0.1 percentage points year-on-year—from -0.3% to -0.4%—the euro rose against the U.S. dollar.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 heading toward 70, indicating a renewed upward trend. We will keep a close eye on whether the euro’s rise against the U.S. dollar will continue.
Today, at 3:00 PM, Germany’s Import Price Index; at 4:00 PM, Sweden’s Household Loans; at 5:30 PM, Hong Kong’s Trade Balance; at 8:00 PM, France’s Unemployment Figures; at 9:00 PM, Mexico’s Trade Balance;U.S. Building Permits at 10:00 PM, Israel’s Policy Rate and remarks by ECB President Lagarde at 11:00 PM, U.S. New Home Sales at 12:00 AM, U.S. 2-Year Treasury Auction at 2:00 AM, U.S. 5-Year Treasury Auction at 3:00 AM, and South Korea’s Consumer Confidence Index at 4:00 AM.We should pay close attention to whether the US dollar will start moving following the Thanksgiving holiday.
Author: Keisuke Sakurai
