Aussie and Kiwi Emerge as FX Darlings on Revised Central Bank Views

Into the Thanksgiving lull, investors are pricing in a December Fed cut and edging back into risk.

Key Takeaways

• S&P 500 Reclaims 50-Day Line Before Thanksgiving Break: U.S. markets are obviously closed for Thanksgiving, but not before the S&P 500 powered ahead for a fourth straight session and reclaimed the 50-day trendline in the process (despite all the hand-wringing of late, the index is just -1.1% shy of its October 28th all-time high though the Tech sector is still -6.5% below its late-October peak).