Good Morning,
Market Headlines
The overnight session was relatively quiet ahead of today’s Thanksgiving Day holiday. The S&P 500 was down 0.2% in late trade while conversely, the NASDAQ was .5% higher. The oil rally continued with further gains of 2.1% while U.S yields edged slightly lower.
Currency
AUD/USD: 0.7325 – 0.7373
EUR/USD: 1.1882 – 1.1930
GBP/USD: 1.3306 – 1.3394
USD/JPY: 104.26 – 104.55
USD/CAD: 1.2987 – 1.3029
NZD/USD: 0.6961 – 0.7014
AUD/JPY: 76.42 – 76.86
AUD/NZD: 1.0492 – 1.0547
AUD Thoughts
Despite the relatively choppy price actions, upward momentum appears to be strong and AUD is expected to move higher even though the year-to-date high at 0.7413 is likely out of reach (there is a minor resistance at 0.7400). On the downside, a breach of 0.7320 would indicate the current upward pressure has eased (minor support is at 0.7340).
Event Risk Data Today
NZ – October Trade Balance
AU – Q3 CAPEX
DE – December Consumer Confidence
US – Thanksgiving Day Holiday