Trading was rather subdued on Wednesday. On the economic front, the University of Michigan report showed that sentiment eased to 97.5 in November. This marked a three-month decline.

The durable goods orders report showed a 4.4% monthly decline which was worse than the 2.2% decline that was forecast. Core durable goods orders rose just 0.1% below estimates of a 0.4% increase.

In the Eurozone, the European Commission recommended taking disciplinary action against Italy for its budget plans. The news did not have much impact on the Euro currency.

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The U.S. markets are closed today due to the Thanksgiving holiday.

Elsewhere, economic data is also sparse. The European Central Bank will be releasing the meeting minutes from the recently held monetary policy meeting.

No major surprises are expected from the minutes although officials might remain cautious on inflation and economic growth.

The NY trading session will see a BoC official speaking which will be followed later by the BoC financial system review.

Later in the evening, the Bank of England monetary policy committee member Saunders is expected to speak.