GBP moves excite quiet markets -With US.......>

FOREX: GBP moves excite quiet markets

-With US markets away for the Thanksgiving holiday, currencies were supposed to

be quiet, but the release of the draft text of the new Brexit agreement between

the EU and UK proved somewhat surprising for GBP traders. The draft text

outlined a close relationship on economic partnership securing no tariffs, fees

or charges on international trade and 'ambitious' customs arrangements that

build the 'single customs area'. While some uncertainties remain (e.g. the

ratification by each and every EU27 parliament), the news was enough to send

GBP/USD briefly back above $1.29.

-Outside of the Brexit news, developments in currency markets were few and far

between with little data released throughout the session.

-NZD extended its recent spell of weakness as NZD/USD failed to break through

the 200-dma at $0.6881 and bulls need to retake this mark to recover.

-Final German GDP, preliminary PMI numbers from France, Germany, the US and the

Eurozone as well as Canadian CPI. US markets open for a half day due to

Thanksgiving holidays.