US dollar is trading in the green versus every major G20 counterpart.

The US Dollar (USD) is resisting selling pressure from the previous days and weeks as we approach Thanksgiving on Thursday. The release of the Fed Minutes from their most recent rate decision revealed that the entire board agrees that no rate reduction are planned for the next meetings. This puts a damper on market expectations that cutbacks would be imminent, even in December. As if the devil is at work in this US Dollar reversal, the calendar could enable the US Dollar Index (DXY) rise even further.

In addition to the Durable Goods and Jobless Claims statistics, the University of Michigan’s consumer inflation expectations data could show that the Fed is justified in not easing too rapidly. Despite the fact that it is the final reading, any higher revision will bode well for more US Dollar strength later this Wednesday.

Daily summary: US Dollar Claims are a pleasant surprise.

This Wednesday is jam-packed with activities leading up to Thanksgiving on Thursday.

The Mortgage Bankers Association (MBA) Mortgage Applications for the previous week were released at 12:00 GMT. The previous figure was 2.8%, but it has now dropped to 3%.A slew of data points were released at 13:30 GMT:

Durable Goods Orders fell from 4.6% to -5.4%, down from 4.7% previously.

Durable Goods Orders excluding Transportation decreased from 0.4% to 0%.

Last week’s first jobless claims fell from 233,000 to 209,000.

Continuing Jobless Claims fell as well, from 1.86 million to 1.840,000.

The University of Michigan numbers will be the next focal point at 15:00 GMT.

Consumer Sentiment is anticipated to rise from 60.4 to 60.5.

Inflation is anticipated to remain constant at 3.2% during the next five years.

Remember that these are the final readings for the month of November.

Equities are slightly higher as stock markets have not received any assistance from relatively poor earnings Earnings at Nvidia. The Sam Altman saga involving Microsoft and AI is also not helping. Mildly optimistic data are being reported across Asia and Europe, with US futures trading flat ahead of the US open.

According to the CME Group’s FedWatch Tool, markets are pricing in a 94.8% possibility that the Federal Reserve will hold interest rates steady at its December meeting. A delicious side item is that 5.2% now believe a raise is imminent.

The benchmark 10-year US Treasury Note yield is 4.38%, close to a new low for the week.