Ahead of the Thanksgiving bank holiday, attention will be firmly on the US on Wednesday, as we get a huge amount of important economic indicators that should offer crucial insight into the health of the US economy. Unemployment claims (exp. 273k; 271k prior) and durable goods orders (exp. 1.6% m/m; -1.2% prior) will be the most important reports as the Fed is looking at the data. The figures can and will influence its decision to either raise rates or hold off until early next year and a number of the indicators will be released today.
The EUR/USD pair is trading below the important daily resistance at the level of 1.0600. Nevertheless, any worse-than-expected data might trigger a breakout higher and next resistance test at the level of 1.0619. The support is seen at the level of 1.0578.
