The session is not over yet for NZD and AUD traders, who have immediate data to digest before the Thanksgiving lull hits North American markets.
NZD traders are bracing for the Retail Sales (Q3) release, which is imminent. With the RBNZ having just cut rates, this data will confirm if consumer spending is finally stabilizing.
Later this evening, AUD traders will watch Private Capital Expenditure (20:30 ET) to gauge business investment appetite.
Tomorrow’s session (Thursday) will be quieter in terms of volume due to the US Thanksgiving holiday, but Europe still has stories to tell.
The early morning puts the spotlight on European sentiment with the German GfK Consumer Climate (03:00 A.M. ET) followed by the broader Eurozone Economic Sentiment (06:00 A.M. ET).
Traders should also keep an eye on the ECB Monetary Policy Meeting Accounts (08:30 A.M. ET) for insights into the internal debate on rate cuts.
The North American Session will be very thin with US markets closed. The only actionable data comes from Canada with the Current Account (09:30 A.M. ET) release. Liquidity will likely be low, so be wary of erratic moves.
The evening will however be the most important:
Tokyo CPI data will heat up the session at 19:30 ET. This is a massive release for the Yen. With inflation holding near 2.7-2.8%, a hot number here would ramp up expectations for a Bank of Japan rate hike in December.
Safe Trades!
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