EUR/USD was at the whim of US dollar flows on Thursday, but ultimately ended the day flat at just above 1.1800. ECB rhetoric, as well as the minutes of the November meeting, serve as a reminder of the stimulus dilemma faced by the ECB in December.
USD/JPY traders look for strong signals to break the chain of three-day declines. Tokyo CPI slipped below -0.6% forecast, core CPI matched -0.7% expected in November. Risks struggle amid US off, mixed news on vaccine, US-China front. A light calendar can extend the sideways moves.
GBP/USD’s rejection from 1.3400 finds support at 1.3320. The pound is losing ground on a thinned Thanksgiving session, retreating from 12-week highs after having rallied in eight out of the last nine trading days.
The price of gold has broken into bearish territory below a 38.2% Fibonacci retracement. In the recent good news in markets, the price of the yellow metal has come under renewed pressure. Bears will seek a discount on a pullback to retest old support, expected to turn resistance.
WTI fades pullback moves from the highest in nine months. The energy benchmark eased from the multi-day high the previous day as global optimism, mainly fuelled through the coronavirus (COVID-19) vaccine hopes, fizzled. Also challenging the oil bulls was the US holiday due to Thanksgiving Day.