Become a client

Currency Market Analysis

Nov 27, 2020 | Currency Market Analysis

Global Themes

RMB drifts lower as Thanksgiving dulls markets

The Chinese yuan drifted lower 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 USDCNH gained 0.1%.

Pound lower

The euro continued to inch higher as the USD weakened.

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

The AUD was slightly weaker yesterday after Australian capital expenditure numbers were below expectations and followed a weaker result in Wednesday’s construction work reading.

French numbers

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 GD numbers are due at 3.45pm.

Next week, Chinese PMI on Monday and US jobs on Friday will be the highlights.

Get the daily currency market analysis in your Inbox

Published five days a week, this newsletter provides day-to-day trends and activities affecting the market in easy-to-understand snapshots.