Tomorrow is U.S. Thanksgiving and Friday is usually a slow day for trading as most Americans take Friday off to recover from Thursday, and to start holiday shopping at Black Friday sales either online or offline. If you look at the lineups at the airports in the U.S. you would swear there is no pandemic, people are still flying to see family even if it means potential sickness. The aftershocks of this will start to impact hospitals even more staring next week.
Currencies and equities are generally mixed after yesterday’s all time closing high on the Dow Jones Industrial Index of 30,046.24, both the S&P 500 and the NASDAQ closed at all time highs last week. With the combination of Thanksgiving and the potential roll out of covid-19 vaccines, investors are taking some of their profits and waiting on the sidelines along waiting for the new Biden administration to make some announcements.
The FOMC minutes to be released this morning should have no surprises, rates remain low, FED ready to change rates at a moment’s notice, economy will not come back till end of 2021 or early 2022.