EUR/USD may extend its rally to 1.0500/1.0550 in the near term.

EUR/USD has broken above 1.0400. The cuurency pair could extend its race higher to the 1.0500/50 area in the near term, in the opinion of analysts at ING.Return towards parity likely in December

“EUR/USD may extend its rally to 1.0500/1.0550 in the near term, but we suspect the bullish trend may start to run out of steam as we approach year-end.”

“A return towards parity remains our base case for December.”

EUR/USD holds above 1.0400 after German IFO data

EUR/USD retreated modestly from the nine-day high it touched near 1.0450 but managed to stay in positive territory above 1.0400. The data from Germany showed that IFO Business Climate Index improved to 86.3 in November from 84.5 in October, helping the Euro hold its ground. US stock and bond markets will be closed due to the Thanksgiving Day holiday.

EUR/USD News 

GBP/USD holds gains below 1.2100 on softer US Dollar, Brexit in focus

GBP/USD is cheering broad US Dollar weakness to defend gains below 1.2100. Brexit pessimism, mixed UK PMIs probe the upside momentum during Thanksgiving holiday in the US. Dovish Fed minutes and downbeat US statistics weigh down on the dollar.

GBPUSD News 

Gold retreats from 50-SMA to pare Fed, China-linked gains

Gold price consolidates intraday gains during three-day uptrend. Market sentiment remains positive amid hopes of easy Fed rate hikes, more stimulus from China. XAU/USD bulls may struggle amid Thanksgiving Day holiday.