NEW YORK - Wall Street futures pointed to a positive movement today following gains in European markets, even as US markets remained closed for Thanksgiving. Investors saw a slight drop in the US Dollar Index, dipping just below 104 in a session marked by low trading volumes due to the holiday.
The anticipation of economic data releases has kept the financial community on its toes. The United States is bracing for a minor decline in the S&P Global PMI, with services projected at 50.4 and manufacturing at 49.8. The data comes ahead of a shortened trading session on Wall Street, with no other significant data expected to be released today.
In Europe, the Eurozone's PMIs outperformed expectations, which contributed to lifting the EUR/USD to around the 1.0900 level. Investors are now looking forward to Germany's Q3 GDP and IFO Survey data release. Meanwhile, European Central Bank President Christine Lagarde is scheduled to speak, although no discussion on monetary policy is anticipated.
The British Pound experienced a surge following robust UK PMI results, propelling GBP/USD to a two-month peak before settling back at 1.2530. The EUR/GBP pair also saw movement, dropping to a three-week low beneath the 0.8700 threshold.
Elsewhere in Asia, Japan is set to release October CPI and Jibun Bank PMI figures as the USD/JPY demonstrates signs of recovery strength by climbing back to around the 149.60 area.
In Canada, market participants are preparing for the release of September Retail Sales figures. The USD/CAD pair has rebounded from weekly lows near 1.3650, heading back towards the 1.3700 zone while staying above its 55-day Simple Moving Average (SMA), an indicator watched closely by traders for directional cues.
The global market movements and forthcoming economic indicators reflect a cautious yet attentive investment environment as major economies provide fresh insights into their respective financial health.
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