Daily Market Update

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Nov 27, 2020 | Currency Market Analysis

Global Themes

Aussie drifts at highs as Thanksgiving dulls markets

• Aussie steadies at highs
• US Thanksgiving holiday caps markets
• Early GDP weaker

Steady

The Australian dollar steadied at recent highs overnight as the US Thanksgiving holidays kept markets restrained.

In other markets, European markets eased lower, with the UK’s FTSE down 0.4% and the German DAX down 0.1%.

The AUDUSD was flat just under the two-year highs.

GBP lower

The Aussie was mostly lower in other markets.

The AUDEUR fell 01% while the AUDJPY lost 0.3%.

The AUDGBP was higher, up 0.2%, as it moved to one-week highs.

The GBP weakened as delays to the UK-US trade deal weighed on the pound.

GDP weaker

Yesterday’s Australian capital expenditure numbers were below expectations and followed a weaker result in Wednesday’s construction work reading.

Both of these numbers feed into next week’s September-quarter GDP report.

Tonight, with the US mostly quieter due to the Thanksgiving long weekend, markets might be less active.

French CPI and GDP numbers are due at 6.45pm AEDT.

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