Fed, virus and data keep the dollar depressed on Thanksgiving

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This is what you need to know to trade today Thursday November 26:

The US dollar is on the defensive against major currencies and gold after the Fed was more open to expanding its bond buying scheme. Added to this, COVID-19 cases continue to rise and a large amount of data pointed to a new weakness. The ECB Minutes feature on Thanksgiving Day.

FOMC minutes: The Federal Reserve spent a considerable amount of time at its recent meeting discussing how its quantitative easing program might evolve. While the document did not show any urgency for imminent action, it appears that the central bank is preparing action and that is keeping the dollar on the defensive.

DataBefore the Thanksgiving holiday, the US released a large number of economic figures. While some, such as durable goods orders, beat expectations, weekly jobless claims posted consecutive increases for the first time since July. Worries about a slowdown could prompt the Fed to act.

Infections, mortality and hospitalizations due to coronavirus en EE.UU. have extended their worrying uptrend, with revenue hitting a daily record for the 16th day in a row. The picture is mixed in Europe, where Germany is still struggling with a large number of cases, while France is experiencing a decline.

The European Central Bank publishes its meeting minutes later in the day, further cementing the signal to expand the bond buying scheme at its December meeting. Italian politicians have raised the idea of ​​forgiving part of the debt.

The Brexit talks They have stalled and the president of the European Commission, Ursula von der Leyen, said she is not sure that an agreement can be reached. It is unclear whether the EU chief negotiator Michel Barnier will travel to London to continue the talks.

The oro has been able to stabilize and move away from the $ 1,800 level. WTI Crude Oil has consolidated its gains around $ 45.

The cryptocurrencies have suffered a significant downward correction, with Bitcoin shedding the $ 18,000 level, Ethereum approaching $ 500 and XRP approaching $ 0.50.

Trading volume is expected to fall in the US session due to the Thanksgiving holiday.


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