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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.

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 closer we get towards achieving price target, will see increased upside risk to inflation
• Various indicators measuring underlying inflation are very slowly approaching our target
• Given rising prices, the desirable policy mix is no longer as straightforward and simple as expanding fiscal stimulus and loosening monetary policy
• Sees no gap in the view from government, BOJ that monetary support needs to be gradually adjusted to keep price rises in check
• Should not necessarily wait until next year’s spring wage negotiations to gauge wage trend
• Should not judge wage trend and movements just by next year’s spring wage negotiations
• But if labour union demands are realised, it would move economy more towards conditions that BOJ hopes to achieve

He’s just trying to throw out some talk that the BOJ will do what it does and not depending on the government’s fiscal plans. But when it comes to walking the walk, so far we’re still only seeing Takata and Tamura being the only dissenters in favouring a rate hike. USD/JPY is down today though to 155.87 currently, paring the gains from yesterday with sellers resuming near-term control now.

This article was written by Justin Low at investinglive.com.

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.

It’s been a positive week for risk trades in general and that will see off investors into the Thanksgiving holiday break which starts today. The holiday typically stretches through to the weekend with US economic data releases also absent from the calendar, after having been pushed forward to yesterday.

As a reminder, both the US stock and bond markets will be closed today and will only be open for a half-day tomorrow. So, that will take out a lot of the energy and animal spirits from markets over the next two days. To our US readers who are enjoying the break, have a wonderful long weekend and happy turkey day! 🦃

This article was written by Justin Low at investinglive.com.

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.

Gold prices fell in Saudi Arabia on Thursday, according to data compiled by FXStreet.