USD/JPY faces resistance near 157.90, with a brief bounce possible, but failure to clear this level could extend the recent pullback toward 154.40–152.80, Société Générale's FX analysts note.

USD/JPY has started to ease lower in recent sessions, taking cues from a shift in BOJ rhetoric. The timing of the shift appears to coincide with Takaichi-Ueda meeting last week. USD/JPY was last seen at 156.30 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Eurozone M3 Money Supply (3m) fell from previous 3% to 2.9% in October

Eurozone M3 Money Supply (YoY) in line with forecasts (2.8%) in October

The Euro could extend gains if Ukraine peace talks deliver a breakthrough, though negotiations may continue into next week. EUR/USD’s return to 1.16 opens room toward 1.17–1.18, ING's FX analyst Francesco Pesole notes.

The Pound Sterling (GBP) staged a relief rebound yesterday after the UK government released details of their own budget. There was initial relief amongst market participants that the Autumn Statement did not trigger a sell-off in the gilt market.

EUR/USD is pulling back from highs above 1.1600, but keeps most of its weekly gains, trading at 1.1585 at the time of writing on Thursday.

The Euro hesitates near monthly lows, following a sharp reversal after the release of the UK Budget on Wednesday. The pair has found some support at 0.8745 earlier on the day, but is lacking acceptance above 0.8760, and looks likely to extend its reversal, aiming for the 0.8720 area.

EUR/JPY retraces its recent gains registered in the previous session, trading around 181.00 during the European hours on Thursday. The currency cross is under pressure as the Japanese Yen (JPY) strengthens on renewed speculation of official intervention.

Here is what you need to know on Thursday, November 27:

USD/CAD extends its losses for the third successive session, trading around 1.4030 during the Asian hours on Thursday. The daily chart’s technical setup reflects a persistent bullish bias, with the pair remaining within its ascending channel pattern.

The NZD/USD pair is building on the previous day's post-Reserve Bank of New Zealand (RBNZ) move up and gaining strong follow-through positive traction on Thursday.

The GBP/JPY cross reverses a major Asian session dip on Thursday and remains well within striking distance of its highest level since July 2024, touched the previous day.

GBP/USD continues its winning streak for the sixth successive session, trading around 1.3260 during the Asian hours on Thursday. The pair appreciates as the US Dollar (USD) struggles amid rising odds of Federal Reserve (Fed) rate cut bets in December.

The Japanese Yen (JPY) gains some positive traction during the Asian session on Thursday and stalls its modest pullback from a one-week top, touched against a broadly weaker US Dollar (USD) the previous day.

Silver price (XAG/USD) declines after three days of gains, trading around $52.80 during the Asian hours on Thursday.

The EUR/USD pair prolongs its uptrend for the fourth consecutive day and climbs beyond the 1.1600 mark, to a one-and-a-half-week top, during the Asian session on Thursday.

The USD/CAD pair holds onto Wednesday’s losses around 1.4030 during the Asian trading session on Thursday. The Loonie pair has been under pressure as the US Dollar (USD) remains fragile due to firm expectations that the Federal Reserve (Fed) will cut interest rates again this year.

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Thursday at 7.0779 compared to the previous day's fix of 7.0796 and 7.0733 Reuters estimate.

South Korea BoK Interest Rate Decision meets expectations (2.5%)

The USD/JPY pair struggles to capitalize on the previous day's bounce from the 155.65 area, or a one-week low, and meets with a fresh supply during the Asian session on Thursday.

GBP/USD accelerated into a fifth straight winning session on Wednesday, gaining another 0.55% on the day and pushing through the 1.3200 handle.

The EUR/USD registers back-to-back bullish days boosted by speculation that the Federal Reserve might cut rates at the December meeting, following the release of a strong jobs report. At the time of writing, the pair trades at 1.1595, up 0.22% after bouncing off daily lows of 1.1547.

The Canadian Dollar (CAD) found a fresh round of bidding strength on Wednesday, lurching into its highest levels against the US Dollar (USD) in a week.

The US Dollar (USD) remained on the back foot on Wednesday despite auspicious US data releases ahead of the Thanksgiving Day holiday. Meanwhile, investors continued to see the Federal Reserve delivering another rate cut in December.

The Japanese Yen (JPY) remains under pressure against the US Dollar (USD) on Wednesday despite a broadly weaker Greenback.

EUR/JPY trades higher on Wednesday around 181.30, up 0.40% at the time of writing. The cross benefits from improving risk sentiment as investors closely track political statements hinting at potential progress toward a peace agreement between Russia and Ukraine.

The EUR/GBP retreats on Wednesday after the latest UK’s budget revealed by the Chancellor Rachel Reeves seem to be well received by investors, which initially sold off the British Pound, which trimmed its earlier loses. At the time of writing, the cross trades at 0.8766 down 0.24%.

The Euro (EUR) holds firm against the US Dollar (USD) on Wednesday, with EUR/USD edging higher after a brief dip following the latest US economic data. At the time of writing, the pair is trading around 1.1580, recovering from a daily low of 1.1547.

The Canadian Dollar (CAD) is quietly consolidating for a fourth consecutive session and extending its tight range from last Friday, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.