Back to US data and Fedspeak

Back to US data and Fedspeak

Here is what you need to know on Thursday, November 21:

The US Dollar Index (DXY) reversed three daily drops in a row and approached the key 107.00 barrier amid higher yields. The usual Initial Jobless Claims are due seconded by the Philly Fed Manufacturing Index, Existing Home Sales, and the CB Leading Index. In addition, the Feds Hammack and Goolsbee are due to speak.

EUR/USD weakened further and came closer to the key 1.0500 support on the back of the stronger Greenback. The advanced Consumer Confidence gauge is next on tap seconded by speeches by the ECBs Cipollone, Buch, Elderson, and Lane.

GBP/USD left behind a two-day recovery and faced renewed downside pressure, prompting it to revisit the 1.2630 zone. Public Sector Net Borrowing figures will be published along with the CBI Industrial Trends Orders, and the speech by the BoEs Mann.

Rising yield and the bid tone in the US Dollar lifted USD/JPY to three-day highs just below the 156.00 barrier. The usual weekly Foreign Bond Investment figures will be unveiled prior to the speech by the BoJs Ueda.

AUD/USD succumbed to the upside momentum in the US Dollar and broke below the 0.6500 support once again. The flash Judo Bank Manufacturing and Services PMIs are expected in Oz.

WTI prices gave away part of the weekly upside momentum, slipping back below the $69.00 mark per barrel despite persistent geopolitical effervescence.

The upside bias in Gold remained in place, sending the metal to multi-day highs north of the $2,650 mark per troy ounce. Silver prices saw their recent advance lose momentum, retreating to two-day lows in the sub-$31.00 zone per ounce.