- Before then, we have an abnormal week ahead of us, with the US Thanksgiving Day holiday on Thursday, shuttering US bond and equities markets and leaving markets lacking liquidity all the while. In recent years, as is typical, the low liquidity conditions have led to sporadic price movements. These choppy conditions can prove to be a difficult environment to trade in. As such, especially given the expectations for the first week of December around the EUR-crosses
2. The euro weakened to a seven-month low after futures traders added to bearish bets and European Central Bank President Mario Draghi encouraged speculation his board will ease policy next week.
Europe’s common currency dropped versus the majority of its 10 developed-market peers after Draghi said Friday the ECB will do what it must to raise inflation “as quickly as possible.” The Governing Council meets in Frankfurt on Dec. 3 for its next monetary-policy decision.HEDGE funds ramped up wagers on dollar strength last week by the most since August 2014. Commodity currencies including the Australian dollar tumbled as copper and nickel prices plunged to multi-year lows.
|Day’s Range:||1.4690 – 1.4832|
|52wk Range:||1.3679 – 1.6607|