US dollar
Markets are edging higher and the dollar is on the back foot as some American traders are set to return from the Thanksgiving holiday. Optimism about a vaccine and the US transition is outweighing the grim virus reality and Brexit uncertainty.
President Donald Trump said that he will leave the White House if President-elect Joe Biden wins the Electoral College. His comments in a press conference provide additional relief to markets, despite repeated unsubstantiated claims of fraud.
US coronavirus cases continue rising at a rapid pace as many travelled for the holiday. Hospitalizations hit a new high above 90,000.
EUR/USD is edging higher, shrugging off Germany’s failure to turn the tide on COVID-19, hitting one million cases and contrary to other countries in the old continent. The ECB is set to expand its bond-buying scheme next month.
GBP/USD trades below 1.34 as recent Brexit reports suggest talks are “completely stuck” and more headlines are likely during the day.
USD/JPY remained depressed through the Asian session and dropped to four-day lows, around the 103.90 region, albeit recovered few pips thereafter.
Gold is edging lower but holding above $1,800. WTI Crude Oil is hovering around $45.
In the EU session, the focus would be on Eurozone’s Services Sentiment, Consumer Confidence, and Industrial Confidence indices. The US markets will close at 18:00 GMT, three hours earlier than usual on the day after Thanksgiving, Black Friday.