Here is what you need to know on Thursday, November 28:
UK elections: YouGov's highly-anticipated MRP poll has shown a landslide 65-seat majority for Prime Minister Boris Johnson's Conservatives. GBP/USD has reacted positively and trades well above 1.29.
The US economy is doing well, according to data released ahead of the Thanksgiving holiday. Third-quarter Gross Domestic Product was upgraded to 2.1%, and Durable Goods Orders jumped in October, reflecting a rebound in investment. However, the Federal Reserve's preferred inflation gauge slipped to 1.6%.
Sino-American relations: The safe-haven yen regained some ground after President Donald Trump's signing into law of the Hong Kong bill that has angered China. Support for protesters in the city-state is seen by Beijing as an intervention in its internal affairs. However, trade talks continue.
AUD/USD has been on the back foot following Trump's signing of the HK bill and also due to accusations in the Australian media of Chinese spying which have been criticized by China. Moreover, Australian Private Capital Expenditure missed with a drop of 0.2% in the third quarter.
NZD/USD has weathered the storm after ANZ's Business Confidence measure recovered to -26.4 in November.
German preliminary inflation figures for November are due out today, shaping expectations for Friday's euro-zone numbers.
Several members of the European Central Bank have been supporting a review of the bank's monetary policy after Christine Lagarde took over as president.
Low liquidity is likely in the US session due to the holiday.
Cryptocurrencies have been extending their recovery with Bitcoin topping $7,500.
More Why is the US attempting to change China’s trade model?
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD trades weak below 1.0800 amid Good Friday lull, ahead of US PCE
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair keenly awaits the US PCE inflation data and Fed Chair Powell's speech for fresh hints on next week's price action.
GBP/USD holds steady above 1.2600 as markets stay calm on Good Friday
GBP/USD trades sideways above 1.2600 amid a typical Good Friday trading lull. A broadly firmer US Dollar could keep any upside attempts limited in the pair ahead of the US PCE inflation data and Fed Chair Powell's appearance.
Gold reaches to all-time highs near $2,230, US PCE eyed
Gold price appreciates to all-time highs near $2,230 per troy ounce, attempting to continue its winning streak for the fifth successive session on Friday. However, trading volumes are light as market participants are likely observing Good Friday.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.