Here is what you need to know on Wednesday, November 27: The US Dollar stabilizes following two days of choppy action, with the USD Index moving sideways slightly below 107.00 in the European morning on Wednesday. Ahead of the Thanksgiving Day holiday, the US economic calendar will feature several high-tier data releases, including Personal Consumption Expenditures Price Index andDurable Goods Orders for October.
The pair stays relatively calm in the European morning on Wednesday and fluctuates in a narrow band below 1.0500. GBP/USD lost its traction after testing 1.2600 for the second consecutive day on Tuesday. The pair moves sideways above 1.2550 to begin the European session. USD/JPY came under bearish pressure on Tuesday and dropped 0.7%. The pair continues to push lower and was last seen losing more than 0.5% on the day at around 152.00.