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USDCHF: The US dollar rose on unemployment claims data, mixed The USD DXY index rose 0.30% to 103.90 as recent economic data and the Federal Reserve's minutes presented a complex scenario for investors to navigate. The increase came after the number of initial jobless claims was announced at 209,000, lower than expected. Despite this positive sign, investors are also considering a sharp decline in durable goods orders in October, down 5.4%. The latest minutes from the Federal Open Market Committee (FOMC) show persistent concerns about inflation, suggesting that these concerns will influence future policy decisions. This led to a rise in U.S. Treasury yields across a range of maturities as investors digested mixed economic data. Looking ahead, market participants do not expect an interest rate hike in November. Instead, there are speculations that interest rates could be cut as early as March or May next year. This sentiment is reflected in the DXY technical analysis. The Relative Strength Index (RSI) remained unchanged near oversold conditions, which could indicate a resurgence of buying pressure. Meanwhile, the Moving Average Convergence Divergence (MACD) bar is still moving sideways in the red zone, indicating near-term bearish momentum. Despite these mixed signals, the USD remains below the 20-day and 100-day SMAs (simple moving averages), but remains above the key 200-day SMA support. This position suggests that long-term bullish sentiment against the dollar may still exist despite the current bearish trend. The dollar continues to assert its dominance in global finance, playing a central role in foreign exchange markets with a daily trading volume of more than $6.6 trillion, based on last year's data. This dominance highlights the currency's far-reaching influence and its resilience in the face of economic instability and changes in monetary policy.
Long
by Chart_MasterPro
GBP/CHF LongGBP/CHF Long • If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
Long
by StewySongs
1
XAUUSD: USD strengthens on unemployment claims data and mixed ecThe US session saw an uptick in the USD on the FX market. The pre-holiday trade day in Michigan was sparked by an increase in consumer forecasts for inflation over the following one and five years, which was 4.5% and 3.2%, respectively. The Federal Reserve minutes and recent economic data presented investors with a challenging environment to navigate, causing the US Dollar DXY Index to rise to 103.90, representing a 0.30% gain. The surge followed the announcement of 209,000 initial unemployment claims, which were lower than anticipated. Notwithstanding this encouraging indication, investors are also taking into account the notable fall of 5.4% in October's Durable Goods Orders. The most recent Federal Open Market Committee (FOMC) minutes revealed ongoing concerns about inflation, indicating that these concerns will likely influence future policy choices.
OANDA:XAUUSDShort
by Chart_MasterPro
GOLD: Gold briefly rose above $2,000 as the dollar fell.Gold surpassed the threshold of 2,000 USD/oz in Tuesday's trading session thanks to expectations that interest rates of the US Federal Reserve (Fed) have peaked. The latest meeting minutes show that the central bank is quite cautious about raising interest rates further. Spot gold contracts increased 1.07% to 1,998,356 USD/oz after at one point during the session hitting a 3-week high of 2,007.29 USD/oz. Gold futures contracts in the US also increased 1.1% to 2,001.60 USD/oz.
TVC:GOLDLong
by Chart_MasterPro
USDJPY: The USD weakened without the catalyst of important econoIn the foreign exchange market, the U.S. dollar weakened, closing at the day's low, extending Tuesday's losses. Data: October building permit applications were higher than expected, but did not provide much support for the dollar. Sterling fell by nearly 40 pips following October's retail sales data, but then rebounded sharply as the US dollar weakened. The yen led the rise among major currencies at the close of trading.
Long
by Chart_MasterPro
GBPUSD: The British Conservative Party eyes tax cuts in the budgThe Sunday Times reported: Britain's Chancellor of the Exchequer Jeremy Hunt is considering cutting income tax and national insurance in a bid to improve his standing in the polls. Jeremy Hunt told Sky News: “We want to responsibly reduce our tax burden.” "The only thing we won't do is not give any tax cuts that could cause inflation." It could allow heirs to defer taxes and consider instead giving tax breaks to low- and middle-income earners.
Short
by Chart_MasterPro
2
XAUUSD: Gold briefly surpassed the $2,000 threshold as the dollaWhat do you think about gold? or It surpassed the $2,000 per ounce threshold in trading on Tuesday on expectations that US Federal Reserve interest rates have peaked. The latest minutes show the central bank is very cautious about raising rates further. Spot gold contracts rose 1.07% to $1,998,356/oz after hitting a three-week high of $2,007.29/oz during trading. U.S. gold futures also rose 1.1% to $2,001.60 an ounce. "The bulls are aggressively stocking up on gold ahead of the Thanksgiving holiday," said Tai Wong, an independent metals trader based in New York. Fed officials agreed at their most recent policy meeting that interest rates could only rise if future information suggests that inflation will decline, according to minutes released Tuesday. Development has not made the necessary progress. The dollar has fallen to its lowest level in two-and-a-half months, making gold less attractive to holders of other currencies. The yield on the 10-year U.S. Treasury bond is also hovering around the two-month low hit last week.
OANDA:XAUUSDLong
by Chart_MasterPro
EUR/GBP ShortEUR/GBP Short • If price pushes up above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
Short
by StewySongs
GBP/CHF Long and EUR/GBP ShortGBP/CHF Long • If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. EUR/GBP Short • If price pushes up above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
by StewySongs
1
USDCHF: Weak US CPI weighs heavily on the dollarAs anticipation that the Federal Reserve would terminate the monetary tightening cycle increased due to slowing U.S. inflation, the U.S. dollar made a slight recovery in early European trading on Wednesday. The Dollar Index, which measures the value of the US dollar against a basket of six other currencies, increased by 0.1% to 104.057 at 03:05 ET (08:05 GMT), not far from a two-month low on Friday. In three, 103.98. Tuesday saw a significant decline in the value of the US dollar after statistics revealed that US consumer prices were unchanged in October but increased 3.2% year over year, less than anticipated, following a 3.7% increase in September. The most important factor in determining whether the Fed will continue to tighten policy is stable inflation, particularly when inflation increased more than
Short
by Chart_MasterPro
USDCAD: The US dollar faces a weekly decline as inflation easesThe US dollar faces its biggest weekly decline in months against the euro, yen and franc. This comes after investors began selling in anticipation of a near 100 basis point interest rate cut in the United States expected next year. By Friday, the dollar had fallen 1.6% from a week earlier, trading at $1.0854 against the euro, its steepest decline since mid-July. For the week, it fell 1.6% to CHF 0.8882, and against the yen it fell 0.6% to CHF 150.53. Oil prices hit a four-month low on Thursday, and Walmart (NYSE:WMT) also announced price cuts, adding to deflationary pressures. This week's data showed U.S. consumer prices stabilizing, convincing investors that inflation is falling and the days of rising interest rates are over. Weak US economic data released on Thursday also supported this view. Futures markets are currently pricing in a 98 basis point (bp) rate cut by the Federal Reserve next year, up from 73 basis points a week ago. Peter Dragicevic, strategist at cross-border payment company Copay, comments on the situation. He said the degree of mitigation being considered looked positive, but the direction was correct. He added that the momentum of US inflation is changing and the negative effects of past monetary tightening are beginning to show. With the Fed's next easing cycle looming, Dragicevic expects the US dollar to weaken gradually over the next few quarters as US yields fall and US growth recovers.
Long
by Chart_MasterPro
GBP/CHF Long and AUD/NZD ShortGBP/CHF Long • If price impulses up, it does so in a convincing manner and a tight flag forms, then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. AUD/NZD Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
by StewySongs
3
USDJPY: It cannot be said with certainty that a weak JPY has a nBank of Japan Governor Ueda said: It cannot be said that the weak yen will have a negative impact on the Japanese economy. A weaker yen promotes domestic inflation due to higher import costs. Weak yen has a positive impact on exports and profits of Japanese companies globally We do not comment on exchange rate fluctuations As we get closer to our inflation target, we will be discussing exit strategies and outlooks, including ETF purchases. The Bank of Japan has no concrete plans to sell ETFs. When we sell ETFs, we do so in a manner that minimizes market disruption and significant losses to the Bank of Japan's balance sheet.
Short
by Chart_MasterPro
1
GBP/CHF LongGBP/CHF Long • If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
Long
by StewySongs
1
EURUSD: The US inflation report stirred optimism about balanced Tuesday's dovish US inflation report increased confidence that the Federal Reserve can effectively manage consumer prices without harming the economy. This so-called "Goldilocks" scenario is neither too hot nor too cold and is considered beneficial for both stocks and bonds. The asset class posted strong gains in November after continued uncertainty, fueled by expectations that the Fed was unlikely to raise rates further, leading to market volatility. School from early 2022. Inflation statistics released on Tuesday confirmed this view. For the first time in more than a year, consumer prices remained steady month-on-month in October, a softer result than analysts expected. At the same time, there is little evidence that tighter monetary policy is causing significant harm to the economy, supporting the view that prices can continue to cool without hindering growth. Eric Kuby, Chief Investment Officer at North Star Investment Management Corp, commented on the market reaction to these developments. "The broader market has been challenged with this consensus negative view on both recession and inflation," Mr. Kuby said. "The reality is telling a different story. This is a Goldilocks moment for the entire market. ” The data prompted strong gains in stocks and bonds. The S&P 500 rose 1.9% on the day, its biggest single-day gain since late April. The index is up 9% from its October low. The benchmark 10-year Treasury yield, which is inversely correlated with bond prices, fell to its lowest level since late September, more than 50 basis points below the 16-year high it hit last month. In response to the inflation report, federal funds futures traders said Tuesday that the Fed would avoid further rate hikes and expect to cut rates by about 100 basis points in 2024, up from a 75 basis point cut expected before the report. I expected it.
Long
by Chart_MasterPro
XAUUSD: Market summary for the first half of the Asian session: Information regarding the Biden-Xi meeting was also reported during the meeting, and an overall assessment was made that in addition to ``open'' discussions, there had been progress on many fronts. However, in a subsequent press conference, Biden reiterated that Chinese Communist Party President Xi Jinping is a dictator. Today's key data is the Australian Employment Report, which showed a significant increase in the number of new jobs created in October by over 55,000, compared to the expected +20,000. Here are a few points: First, most of the new jobs created are part-time. Second, analysts overlooked Australia's mid-October referendum, which required a recruitment drive for polling stations. However, considering the estimates that should have been included in the forecast, the +55,000 headline was almost triple the consensus estimate. The US dollar strengthened during the session, while the Australian dollar, euro, pound, New Zealand dollar and Canadian dollar all fell. moreover: Japan's exports increased more slowly in October than in September. China's new home prices fell for the fourth straight month in October
OANDA:XAUUSDShort
by Chart_MasterPro
1
GBPUSD: Dollar rises in European session; Pound depreciatedWeak US CPI weighs on dollar The dollar took a big hit on Tuesday after data showed U.S. consumer prices were flat in October after rising 3.7% in September, while the dollar rose 3.2% year-on-year. , fell below expectations. The stability of inflation is the most important factor in predicting the Fed's chances of maintaining its tightening stance, especially after inflation rose more than expected in August and September. Indeed, Fed officials are keen to maintain tight monetary policy ahead of the latest data release. As a result, slowing inflation is weighing heavily on the dollar as traders assess the likelihood of rate hikes this year and focus on when the Fed will start cutting rates. "We still think the decisive blow to the dollar will come from a decline in activity data, which could cause the market to calm down," ING analysts said. Further improvement is expected based on an assessment of the trend toward lower interest rates. “That’s why we’re interested in retail sales.” U.S. retail sales data for October will be released later in the session, but analysts expect retail sales to decline 0.3% from the previous month, when retail sales rose 0.7%. Pound depreciates as UK inflation rate declines In Europe, GBP/USD fell 0.2% to 1.2475, below levels last seen in September, after UK inflation slowed more than expected in October, providing some relief. It went below. Support from the Bank of England. UK CPI rose at an annual rate of 4.6% in October, down sharply from 6.7% in September and the smallest increase in the past two years. The Bank of England recently paused its rate hike cycle, raising the key interest rate to 5.25%, the highest level since the 2008 financial crisis, but officials have consistently said they will continue to cut interest rates despite the weak economy. has emphasized that it is still a long way off. heading towards a recession.
Short
by Chart_MasterPro
GBP/USD ShortGBP/USD Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
Short
by StewySongs
1
USDJPY: Japan's Economic Minister warned that the global recessiStatement from Japan's Minister of Economy on the third quarter GDP report: It should be noted that the threat of global recession is depressing the Japanese economy Domestic demand, including consumption and investment funds, decreased significantly in the third quarter Personal consumption slumps due to rising prices Industrial production is under pressure due to rising raw material prices and reduced investment in construction and machinery. Consumption of services such as eating out continues to recover Concerns about the future of the Chinese economy need to be carefully monitored
Short
by Chart_MasterPro
XAUUSD: USB believes that the attractiveness of USD will declineUBS: In 2024, the USD will become less appealing. Based on comparatively solid US economic data, UBS believes that the dollar will be maintained in the upcoming months. But, given the notable slowdown in US economic statistics and the Fed's policy stance, we also need to be cautious about the possibility that the USD would fall slightly as 2024 approaches. Right now, UBS is trying to sell USD. "We anticipate a sharp slowdown in economic growth over the next several quarters, with a mid-year estimate of roughly 0.5%." Only anticipate a +0.3% GDP in 2024. By the end of 2024, it is anticipated that the unemployment rate would increase to 5%. The Federal Reserve will gradually drop the federal funds rate in March before raising it in the
OANDA:XAUUSDLong
by Chart_MasterPro
GBPUSD: Pound recovers ahead of important economic dataAs UK economic growth flattens rather than declines as predicted, the GBP is strengthened. For additional hints, investors are awaiting data on jobs and inflation. The third quarter saw a sharp reduction in investment by local businesses as a result of uncertain demand. The economy of the nation is doing better than expected, which helps the GBP. Despite a pretty bleak economic prognosis, the GBP/USD exchange rate is making an effort to rebound as businesses' investments in production expansion have drastically decreased as a result of weak domestic and international demand. BoE policymakers Katherine Mann and Huw Pill express concern about the long-term consequences of high interest rates in the fight against inflation, indicating that they will probably support an early rate decrease. Data on the labour market in the UK will reveal investor positions. Furthermore, hiring trends and wage growth also
Long
by Chart_MasterPro