Talks between Germany, France, and Italy are likely to dominate exchange rates today as there is very little scheduled data releases. It will likely mean a fairly rangebound trading day for the majority of currencies however the difficulty is if any news does break it could happen at any time compared to the scheduled data releases at set times. Watch this space for any breaking news in the meantime as Tuesday looks a more likely day for larger movements on the back of scheduled economic releases.
And for everyone across the pond I trust you had an enjoyable Thanksgiving- it’s back to the grindstone for many following the market holiday yesterday. Anyone with an interest in USD exchange rates may keep an eye on the possible success of Black Friday- this is the mad house day of sales where retailers slash the price of goods to encourage a flurry of spending from US consumers. Usually success for companies here means better times for the US economy however will many Americans be tightening their belts this year? If so then the global economy may also suffer further.
Weakness in the global economy is particularly weighing on the Aussie and Kiwi Dollars which investors have been selling off due to a lack of confidence about demand around the world should things slow down further.
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