On the eve of the Thanksgiving holiday, the dollar resists its rivals. The economists of ING analyze the outlook for the USD.
Trading volumes drop during the US Thanksgiving holiday
Trading volumes are expected to drop during the US Thanksgiving holiday, but the holiday means we may see initial US jobless claims being filed earlier than usual. In this case, an increase in continued applications is expected, reflecting the weakening of the labor market.
Generally speaking, we tend to think that It’s too early to expect the dollar’s downtrend to go much further. This will require weaker US data or the Fed formally withdrawing the possibility of a new rate hike.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
