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USD Falters On Thanksgiving Day, NZD Remains Under Pressure

FOREX

The DXY moved away from a 16-month high as the greenback underperformed at the margin during a fairly slow Asia-Pac session. Participants assessed familiar themes, with activity limited the Thanksgiving holiday in the U.S.

  • The initial bid in NZD evaporated later in the session. The kiwi had a firmer start and extended recovery from yesterday's lows, but these gains proved short-lived. The kiwi lags the G10 pack alongside the USD as we type.
  • AUD/NZD extended gains after charting a double bottom pattern, consolidating above its 100-DMA. The aforementioned bullish structure was completed on Wednesday, when the pair closed above its 100-DMA for the first time since mid-Oct.
  • The Riksbank will deliver their monetary policy decision today, while their colleagues from the ECB will publish the minutes of their most recent policy meeting. Speeches are due from a raft of ECB & BoE members. The final reading of German GDP headlines the data docket.
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