USD Index nears a six-week high on raft of....>

FOREX: USD Index nears a six-week high on raft of strong data

-As US stats agencies lined up releases ahead of the Thanksgiving holidays,

economic data was largely favourable for late-2019 growth prospects, pinching

further the chances for a December rate cut from the Federal Reserve. GDP

figures, durable goods orders and weekly jobless claims all fared better than

expected, helping support equities, US yields and, in turn, the greenback.

Durable goods in particular outperformed, supported by defence orders, which

climbed just shy of 17%. The move was most evident in USD/JPY, which narrowed

the gap with Y109.50 and hit a three-week high.

-GBP traded well despite initial weakness, with markets buoyant ahead of the

release of the YouGov MRP poll, which looks increasingly likely to show a

majority for Boris Johnson's Conservative party. GBP/USD bounced nicely off the

$1.2827 to just shy of the $1.29 handle ahead of the US close.

-Outside of Thanksgiving, German regional and national CPIs are up as well as

Eurozone consumer/business confidence. Speeches are scheduled from ECB's

Villeroy, de Cos, Coeure and Lane.