The GBP/USD remains steady at around 1.3230 as market participants digest the UK’s autumn budget amid thin trading liquidity conditions with US markets remaining closed in observance of Thanksgiving Holiday. The pair is flat at 1.3232 virtually unchanged.

The Euro (EUR) trades flat against the British Pound (GBP) on Thursday after a sharp slide on Wednesday following the United Kingdom’s Autumn Budget. At the time of writing, EUR/GBP is trading near 0.8761, holding close to a one-month low as sentiment continues to favour Sterling.

The Economist described it as a ‘bodge-it budget’ that doesn’t give Britain what it needs. The FT calls it a ‘Spend now, pay later’ budget, which merely delays fiscal pain. The Guardian calls it a ‘live now, pay later’ budget and wonders what happens when ‘later’ arrives.

Gold (XAU/USD) is treading water on Thursday as a modest rebound in the US Dollar (USD) weighs on the precious metal. At the time of writing, XAU/USD is trading around $4,155, hovering near two-week highs reached on Wednesday, with prices up over 2% so far this week.

Canada Current Account came in at -9.68B, above forecasts (-16.5B) in 3Q

GBP/JPY holds steady near 207.00 on Thursday after touching a fresh year-to-date high on the previous day, with sentiment leaning in favour of the British Pound (GBP) following the United Kingdom’s Autumn Budget.

Russia Central Bank Reserves $ down to $729.1B from previous $734.1B

The account of the European Central Bank’s (ECB) monetary policy meeting held in Florence on 29-30 October shows that policymakers judged the economic and inflation outlook to be largely consistent with the September projection baseline, with uncertainty still elevated.

EUR/USD shows moderate losses heading into the European midday, trading near 1.1590 after rejection above 1.1600 earlier on Thursday.

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

Mexico Trade Balance, $ registered at $0.606B above expectations ($-0.45B) in October

Mexico Trade Balance s/a, $ rose from previous $-0.831B to $1.411B in October

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.

Gold (XAU/USD) was capped at the $4,175 area on Wednesday and is showing minor losses on Thursday, although it remains trading within the previous day’s range, with support around the $4,140 area holding downside attempts for now.The US Dollar Index (DXY) is showing a mild recovery after dropping ne

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

Belgium Consumer Price Index (YoY): 2.4% (November) vs 2%

Belgium Consumer Price Index (MoM): 0.56% (November) vs 0.36%

Italy 5-y Bond Auction fell from previous 2.75% to 2.74%

Italy 10-y Bond Auction: 3.44% vs previous 3.46%

West Texas Intermediate (WTI) US Oil trades around $58.55 on Thursday at the time of writing, up 0.15% on the day. The move reflects renewed optimism surrounding a potential ceasefire between Ukraine and Russia, which could eventually lead to a partial rollback of Western sanctions on Russian Oil.

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.

This week’s US Dollar (USD) pullback reflects Fed-driven rate expectations rather than geopolitical shifts, while thinner Thanksgiving liquidity may set the stage for potential USD/JPY intervention, ING's FX analyst Francesco Pesole notes.

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 Consumer Confidence in line with expectations (-14.2) in November

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

Italy Industrial Sales n.s.a. (YoY): 3.4% (September) vs -0.1%

Italy Industrial Sales s.a. (MoM): 2.1% (September) vs -0.7%