The New Zealand Dollar is coming under growing bullish pressure against the US Dollar, after breaking above the 0.5680 resistance area.

AUD/USD trades around 0.6525 on Thursday at the time of writing, up 0.12% on the day. The Australian Dollar (AUD) continues to appreciate against the US Dollar (USD), supported by a market environment where expectations of monetary easing by the Federal Reserve (Fed) are intensifying.

The US Dollar is retracing losses against the Canadian Dollar on Thursday, following a sharp reversal in the previous two days.

Markets are weighing BoE rate cut prospects against sticky inflation and muted growth, leaving GBP outlook nuanced despite yesterday’s calm in gilt markets, Rabobank's FX analyst Jane Foley reports.

The Jpanese Yen (JPY) has continued to trade at weaker levels during the Asian trading session alongside the US dollar which has corrected lower in response to dovish comments from New York Fed President Williams who signalled he still sees room for another rate cut in December.

Eurozone Industrial Confidence below forecasts (-8) in November: Actual (-9.3)

Eurozone Services Sentiment came in at 5.7, above expectations (4.4) in November

Eurozone Economic Sentiment Indicator meets forecasts (97) in November

Eurozone Business Climate declined to -0.66 in November from previous -0.46

The UK budget lifted Pound Sterling (GBP) modestly as fiscal pressures eased, but back-loaded tax measures and upcoming BoE rate cuts could keep the currency’s upside limited, ING's FX analyst Chris Turner notes.

An early release of the UK budget report revealed more balanced tax increases and moderated growth forecasts, calming markets, but long-term spending plans leave fiscal questions unresolved, Commerzbank's FX analyst Michael Pfister notes.

Silver (XAG/USD) trades higher for the fourth consecutive day on Thursday.

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 Australian Dollar (AUD) gains against the US Dollar (USD) on Thursday, extending its gains for the fifth successive session. The AUD/USD pair gains ground as the US Dollar (USD) struggles amid rising odds of Federal Reserve (Fed) rate cut bets in December.