A light on the data folder
Well, the Thanksgiving holiday season certainly doesn’t seem like a quiet time as risky trades are slammed with bond yields in particular falling.
You can also blame exacerbated moves involving thinner liquidity conditions in general, but that’s what it is with 2-year Treasury yields falling 6 bps to 0.583% and 10-year yields falling. 8bp down to 1.563% so far.
Elsewhere, European equity futures are down almost 2% while S&P 500 futures are down 1% as we look into the coming session. The gloomy mood led to a direct movement of currency risk aversion against a backdrop of lighter trading conditions.
Looking ahead, economic data won’t do much to change the background music, but keep in mind that with weaker liquidity in trading today, we could see even exacerbated moves on the market before the weekend.
0700 GMT – Germany Import Price Index in October
07:45 GMT – France November Consumer confidence
0800 GMT – Swiss GDP figures for Q3
0900 GMT – October M3 money supply data for the euro area
That’s all for the upcoming session. I wish you the best of the days ahead and good luck with your trading! Stay safe there.
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