Quiet Currency Markets Pre-Thanksgiving

A lack of data and newsflow causes major pairings to remain rangebound heading into the Thanksgiving holiday.

Previous Day's Market Highlights

The markets were unimpressed by the data which came out yesterday, US Core Durable Goods came out 1.9% below forecast however US home sales printed 20k above forecast at 5.22m. A very flat day yesterday with GBP/EUR trading in a 25 pip range and GBP/USD in a 60 pip range, the main focus is on any Brexit related news and with any pre-exempt news for the EU summit on Monday. 

Currency Pairing 08:00 Today Vs 08:00 Yesterday Four-Week High Four-Week Low % Change
GBP/EUR 1.1213 1.1506 1.1172 2.90%
GBP/USD 1.2786 1.3175 1.2691 3.67%
EUR/USD 1.1403 1.1500 1.1302 1.72%
GBP/AUD 1.7655 1.8459 1.7502 5.18%
GBP/NZD 1.8816 1.9903 1.8657 6.26%
GBP/CAD 1.6922 1.7285 1.6637 3.75%

Today's Market Highlights

A quiet day is expected today with US markets closed for thanksgiving. The main release for the day will be minutes from the ECB’s latest monetary policy meeting. Market participants will be looking for insight into the governing council’s opinion on economic conditions in the Eurozone as well as hints as to the timing of monetary policy tightening. 
 
Other data includes Eurozone consumer confidence and Canadian corporate profits, for the month of October and Q3 respectively. However, these data points are of lower significance and unlikely to be major market movers. 
 
Central bank speakers are limited to the BoE’s Saunders and the market will also be keeping an eye on any political developments relating to Brexit and the Italian budget. 

Today's Economic Calendar

Time Currency Release Consensus Previous
12:30pm EUR ECB Monetary Policy Minutes
3:00pm EUR Consumer Confidence -3 -3