Pre-Thanksgiving Economic Data Puts the Greenback and the U.S Economy in the Spotlight

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The Day Ahead

For the EUR

It’s a relatively busy day ahead on the economic calendar. Germany’s Ifo Business Climate Index and sub-components will be in focus later this morning.

The markets will be looking for any concerns over the recent pickup in new COVID-19 cases. Weaker sentiment would test EUR support.

At the time of writing, the EUR was down by 0.05% to $1.1242.

For the Pound

It’s a relatively quiet day ahead on the economic calendar. Economic data is limited to CBI industrial trend orders.

With little else to consider, expect the numbers to influence.

On the monetary policy front, MPC member Tenreyro will also draw interest later in the day.

At the time of writing, the Pound was down by 0.02% to $1.3375.

Across the Pond

It’s a particularly busy day ahead on the economic calendar, with the U.S markets closed for Thanksgiving on Thursday.

Key stats include 3rd quarter GDP, personal spending, inflation, jobless claims, and core durable…

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