Forex Major Currencies Outlook (Nov 27, 2015)

Traders are off on Thanksgiving holidays and might not be back until Monday's US trading session. There have been no reports out of the US yesterday and none are due today.

EUR

The euro resumed its slide since the lack of top-tier data allowed traders to keep speculating on what the ECB might do next. A report from Reuters showed that ECB officials discussed the policy options they could employ but no details have been confirmed yet. French consumer spending and Spanish flash CPI are up for release next.

GBP

The pound was also in a weak spot even though there were no reports out of the UK. Traders appear to be pricing in expectations ahead of the UK second GDP release today, although no major revisions to the initial 0.5% estimate are expected. Any downgrades could mean sharp losses for the pound since this would underscore the BOE's less hawkish stance.

CHF

The franc gave up some ground in recent trading, as the prospect of further ECB easing could mean additional SNB intervention. There were no reports out of the Swiss economy yesterday and none are due today, keeping risk sentiment in play.

JPY

The yen advanced against most of its peers as risk aversion popped its head back in the markets. Traders are waiting for the release of Japan's household spending and inflation readings today, with small declines expected. Still, the lack of dovishness from the BOJ could keep the yen supported even with downbeat data.

Commodity Currencies (AUD, NZD, CAD)

Commodities retreated in recent trading sessions, dragging the comdolls down in the process. In Australia, the private capital expenditure report showed a 9.2% drop in Q3, worse than the projected 2.8% drop. There are no major reports due from the comdoll economies today so commodities could push prices around.

By Kate Curtis from Trader's Way