Home Forex Market Update – Nov 25 – China’s record of daily Covid cases punctures sentiment

Market Update – Nov 25 – China’s record of daily Covid cases punctures sentiment

by SuperiorInvest




  • The USD index is holding at 9-day lows above the key 105.50 in 105.67 today after Wednesday’s Fed minutes. 10-year US earnings lower (-1.39% in 3.66%) Asian stocks also fell (Nikkei -0.35%, Hang Seng -0.30%)
    • JPY Tokyo CPI jumps into 3.8% of 3.5%
    • NZD Retail salesis much better 0.4% vs -2.3%
    • Germany – final reading of the 3rd quarter GDP also beats on 0.4% vs 0.3% but GfK passed in -40.2 with anticipation -39.6.
  • China’s Covid cases hit new record daily high of 32,695 local infection on Thursday. Reported cases are widespread throughout the country and in major industrial, commercial, and manufacturing centers.
  • euros – fell from an 8-day high to 1.0448, back under 1.0400, but has since recovered 1.0420.
  • JPY – softened all the way down 138.00 zone and 7-day minimum, from the end 142.20 on Monday. Today’s meeting has been concluded 139.00 and the pair now trades for 138.60.
  • GBP – Sterling continued to rally on a weaker breakout and breakout of the USD 121.00 to begin with 121.50 yesterday. They hold 121.00 today’s level.
  • Stocks – Wall Street closed on Thanksgiving Day – Open later on Friday for half day trading – 500 USD +23.68 (+0.59%) 4027 on Wednesday FUTS trades on 4042 Now.

  • USOil – Raised from 2-month lows at $77.50 on $78.40 now, following reports that Saudi Arabia and Iraq are “promising market stability” and the proposed G7 price cap is higher than expected.
  • Honey – Tried up to 1760 dollars before sliding to 1753 dollars and holding the key 1750 dollars level.
  • BTC WITHthe entiment’s woes continue, but they rallied 16.8 thousand dollars yesterday before cooling 16.4 thousand dollars Now.

Today all done except for the ECB De Guidos speech.

The biggest FX Mover @ (07:30 GMT) AUDCHF (+0.27%) continued to recover from the test 0.6300 earlier this week. Trades on 0.6395 now, testing 0.6400. MAs are leveling higher, MACD histogram and signal line positive but bearish, RSI 64.70 and rising, H1 ATR 0.00078, daily ATR 0.00668.

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.






Previous articleMarket Update – November 24 – FOMC Min. & Data conspire to sink the USD

With over 25 years’ experience working for a number 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.


Source Link

Related Posts

%d bloggers like this: