Home Forex Market Update – Nov 23 – USD Down, Stocks Higher, RBNZ Adds 75bp, FOMC Minutes To Come

Market Update – Nov 23 – USD Down, Stocks Higher, RBNZ Adds 75bp, FOMC Minutes To Come

by SuperiorInvest

  • The USD index slipped from over 107.50, until below 107.00, as supplies CLOSED 1% higher and Asian markets followed the US into positive territory even as China’s covid case count continues to climb. The RBNZ raised interest rates in line with expectations 4.25% of 3.5% during a hawk hike, e.gexpectations of the final rate were significantly increased 5.5-5.75%. (NZD better performance in the Asian session). AUD PMI data was missing and prosecutors called FTX Sam Bankman-Fried’s “personal fiefdom”, lacked “substantial” assets and singled out his parents and senior staff with Bahamian assets worth over $300 million.
  • euros – repetition 1.0300 of 1.0225 minimums at which to trade 1.0225.
  • JPY – released from 142.20 height up to below 141.00 – trades on 141.20 Now.
  • GBP – Sterling held 1.1800 support and gathered for testing 1.1900 Now. The UK economy is set to be the worst performer in the G20 bar Russia over the next two years, according to OECD.
  • Stocks – Wall Street has closed 1%+ NASDAQ & S&P500 +1.36%. Exxon & Chevron best performances. US500+53.64 (+1.36%) closed above 4000 at 4003, for the first time since then September 12 (50 business days), FUTS trades on 4009 Now.

  • USOil – They gathered to $82.00 and trades on $81.50 now, after reeling from talk of a production increase earlier in the week. Inventories are expected to fall by 2.6 m barrels this week after last week’s overshoot 5.4 m barrel pumping.
  • Honey – Spinning round and round 1740 dollars but tested once more on 1733 dollars minimums, shops on 1744 dollars now on 200h MA.
  • BTC WITHSentiment issues continue but rally from 2-year low to 15.4 thousand dollars in the last 24 hours it moved the price to 200 hours MA at 16.5 thousand dollars

Today – FOMC min. (Fed signals interest rates will continue to rise, but more slowly?), Flash PMIs in EZ, UK and US, US durable goodsweekly claims, new home sales, speeches -ECB’s de Guindos & BoE’s Pill,

The biggest FX Mover @ (07:30 GMT) NZDCAD (+0.54%) recovered from a new move lower 0.8200 before and trades on 0.6265 Nowfurther resistance in 0.8275 & 0.8300. MAs are leveling higher, MACD histogram and signal line positive and rising, RSI 62.88 and rising, H1 ATR 0.00188, daily ATR 0.0083.

Click here to access our economic calendar

Stuart Cowell

Chief Market Analyst

Disclaimer: This material is provided as general marketing communication for informational purposes only and does not constitute independent investment research. Nothing in this communication contains or should be considered to contain investment advice or an investment recommendation or a solicitation to buy or sell any financial instrument. All information provided is collected from reputable sources and any information containing an indication of past performance is not a guarantee or a reliable indicator of future performance. Users acknowledge that any investment in leveraged products is characterized by a degree of uncertainty and that any investment of this nature involves a high level of risk for which users are solely responsible and liable. We shall not be liable for any loss arising from any investment made based on the information provided in this communication. This communication may not be reproduced or redistributed without our prior written consent.

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With over 25 years’ experience working for a range of globally recognized organizations in the City of London, Stuart Cowell is a passionate advocate of keeping things simple, doing what’s likely and understands how news, charts and sentiment work together to deliver trading opportunities across all asset classes and all time frames.

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