On Tuesday, during the Asian session, Australia will release real sales data, and RBA Governor Bullock will participate in an event. Later in the day, the GfK German survey is due. In the US, housing price data and consumer confidence figures will be released. Several Fed officials are scheduled to speak.

Here is what you need to know on Tuesday, November 28:

On a quiet session, the US Dollar Index lost 0.20% and posted its lowest daily close since late August, near 103.20. The bias remains to the downside, with the Greenback looking vulnerable. Treasury yields declined, with the 2-year falling to 4.89% and the 10-year sliding from 4.50% to 4.38%.

US New Home Sales unexpectedly dropped by 5.6% to 679K, below the market consensus of 725K. Data due on Tuesday from the US includes the Housing Price Index, the S&P/Case-Shiller Home Price Indices, CB Consumer Confidence, and the Richmond Fed Manufacturing Index. Later in the week, the Core Personal Consumption Expenditure Index is due. Fed officials Goolsbee, Waller, Bowman, and Barr will speak on Tuesday. The blackout period begins on Saturday.

EUR/USD posted its highest close in three months. While above 1.0950, further gains seem likely, and a test of 1.1000 appears to be a matter of time. On Tuesday, the German GfK survey is due. The focus in the region is on inflation figures that will start coming out on Tuesday.

GBP/USD rose for the third consecutive day, breaking above 1.2600. The bias is tilted to the upside, with the pair looking for a new equilibrium level.

USD/JPY tumbled after trading quietly for three days, falling towards 148.50, affected by lower yields.

AUD/USD rose above 0.6600, reaching the highest levels since early August, and also surpassed the 200-day Simple Moving Average (SMA). Reserve Bank of Australia Governor Bullock will participate in a panel discussion titled “Inflation, Financial Stability, and Employment.” October Retail Sales data is due.

USD/CAD remained below the 55-day SMA and seems positioned towards the 1.3600 zone. Risks are tilted to the downside. Employment data will be released on Friday.

Gold rose sharply and traded above a key resistance area seen at $2,010. Silver also jumped and posted the highest daily close in weeks above $24.50. 

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