The US Thanksgiving holiday witnessed thin trade Thursday. On the data front, however, headline German CPI for November missed expectations for a pick-up to 1.3%, and the pace remained unchanged at 1.1%, missing estimates for a rise to 1.3% y/y. The m/m release fell deeper than expected, falling 0.8% vs. 0.6% expectations.
British Prime Minister Boris Johnson is on course to win a majority of 68 in parliament at the Dec. 12 election, according to a model from pollsters YouGov that accurately predicted the 2017 election (Reuters).
Please find our updated trading schedule and general information for the Thanksgiving Day Holiday on Thursday November 28th, 2019 & Friday November 29th, 2019.
Europe’s shared currency finished Monday mostly unmoved against the US dollar. In terms of risk events, sentiment among German executives has improved a little, according to the IFO Institute for Economic Research.
Longer-term flow retained a bearish tone last week, languishing south of a long-standing resistance area at 1.1119-1.1295. Further selling going forward has the lower boundary of a descending channel to target (extended from the low 1.1109), merging closely with the 2016 yearly opening level at 1.0873.
