USD

The US dollar regained ground to most of its major counterparts even as there were no reports out of the US economy during the Thanksgiving day holiday

For today, there are still no top-tier reports lined up, which could leave dollar pairs sensitive to risk sentiment.

EUR

The euro gave up ground to the dollar in recent trading but managed to advance against the Japanese yen. Data from the euro zone wasn’t so bad, as the German preliminary CPI came in flat as expected while the unemployment change report indicated a 14K increase in hiring. For today, German retail sales and euro zone flash CPI figures are due, with weak figures likely to weigh on the shared currency.

GBP

The pound was in a weak spot recently, even though there were no reports released from the UK yesterday. Earlier today, the GfK consumer confidence reading came in weaker than expected as it refused to budge from the -2 figure instead of improving to the projected -1 reading. UK Nationwide HPI is up for release later and it might show a 0.4% increase in house prices.

CHF

The franc gave up ground to the dollar, as it was no match to the lower-yielder in recent trading. There have been no reports released from Switzerland yesterday and none are due today, leaving the Swiss currency sensitive to euro movements and risk appetite.

JPY

The yen suffered a sharp selloff in the Asian trading session, as data from Japan still reflected persistent weaknesses. Household spending marked a better than expected 4.0% decline versus the projected 4.8% drop and the previous 5.6% decline while retail sales showed a 1.4% increase, slightly below the estimated 1.5% growth. National core CPI fell from 3.0% to 2.9% while the Tokyo core CPI declined from 2.5% to 2.4%. Preliminary industrial production marked a 0.2% gain instead of the estimated 0.4% drop.

Commodity Currencies (AUD, NZD, CAD)

The comdolls gave up their recent wins to the dollar when risk aversion and profit-taking took hold. Australia reported a stronger than expected private capital expenditure figure while Canada also impressed with a better than expected current account balance. Building consents in New Zealand picked up by 8.8% versus the previous 11.9% drop. Canadian monthly GDP is up for release later on.

By Kate Curtis from Trader’s Way