Market news

Powell speech: Appropriate to wrap up QE taper a few months sooner

USD/MXN: Mexican peso hits highest level in six days at 21.30

Powell speech: Risk of high inflation is a risk to getting back to full employment

Gold Price Forecast: XAU/USD surges above $1,800 on falling US T-bond yields

Powell speech: Its a good time to retire the word “transitory” for inflation

US: CB Consumer Confidence drops to 109.5 in November versus expected 111.0

USD/TRY clinches new all-time highs near 13.2000

US: ISM Chicago PMI falls to 61.8 in November versus 67.0 expected

United States Chicago Purchasing Managers' Index below forecasts (67) in November: Actual (61.8)

Omicron: Merck says its Covid-19 anti-viral pill will have similar efficacy against Omicron

ECB's de Cos: Recent developments anticipate a significant negative revision to 2021 growth estimates

United States Redbook Index (YoY) climbed from previous 15.4% to 21.9% in November 26

US: House Price Index rises 0.9% in September to 354.6 from 351.5 in August

FOMC Chairman Powell testifies before Senate Banking Committee live stream – November 30

United States Housing Price Index (MoM) down to 0.9% in September from previous 1%

BoE's Mann: Premature to talk about timing of rate hikes, much less how much

United States S&P/Case-Shiller Home Price Indices (YoY) came in at 19.1% below forecasts (19.3%) in September

EUR/USD Price Analysis: Interim hurdle comes at 1.1374/89

USD/JPY slides further below 113.00, lowest since October 11

US Dollar Index Price Analysis: Pullback could see 95.50 retested

WTI drops towards $67.00 as broader market sentiment deteriorates amid vaccine efficacy concerns

BoE's Mann: Omicron raises particular question marks over consumer confidence

Canada: Real GDP expands by 0.1% in September vs. 0.1% expected

Canada Gross Domestic Product Annualized (QoQ) came in at 5.4%, above expectations (3%) in 3Q

Canada Gross Domestic Product (MoM) meets forecasts (0.1%) in September

AUD/USD recovers early lost ground to YTD low, US data/Powell's testimony eyed

Chile Unemployment rate meets expectations (8.1%) in October

Silver Price Analysis: Acceptance below $23.00/61.8% Fibo. favours XAG/USD bears

EUR/GBP pushes above 0.8500 as euro safe-haven bid returns

EUR/JPY Price Analysis: Upside pressure alleviated above 129.60

South Africa Trade Balance (in Rands) fell from previous 22.24B to 19.78B in October

USD/CAD retreats from two-month high amid weaker USD, Canadian GDP in focus

Chile Industrial Production (YoY) climbed from previous -0.7% to 1.3% in October

India Gross Domestic Product Quarterly (YoY) meets forecasts (8.4%) in 3Q

Brazil Unemployment Rate declined to 12.6% in September from previous 13.2%

WTI could face some short-term consolidation – Commerzbank

India Infrastructure Output (YoY): 7.5% (October) vs 4.4%

Oxford University: No evidence vaccines will not provide high levels of protection against Omicron

EU Public Health Agency: 42 cases of Omicron confirmed in EU

India Federal Fiscal Deficit, INR increased to 5470.26B in October from previous 5268.51B

Singapore: Solid prospect for the Industrial Production – UOB

AUD/USD: Bearish bias persists below 0.7511/69 – Commerzbank

ECB's Weidmann: ECB should be wary of any pressure to maintain loose policy

EUR/USD climbs to 2-week highs near 1.1370, dollar deflates

EUR/GBP sticks to gains near two-week high, around 0.8500 post-Eurozone CPI

Breaking: Eurozone Preliminary CPI unexpectedly jumps by 4.9% YoY in November

Italy Consumer Price Index (EU Norm) (YoY) came in at 4%, above forecasts (3.4%) in November

Italy Consumer Price Index (EU Norm) (MoM) came in at 0.8%, above expectations (0.2%) in November

Italy Consumer Price Index (YoY) came in at 3.8%, above expectations (3.2%) in November

Italy Consumer Price Index (MoM) remains unchanged at 0.7% in November

Belgium Gross Domestic Product (QoQ) climbed from previous 1.8% to 2% in 3Q

European Monetary Union Consumer Price Index - Core (YoY) above forecasts (1.9%) in November: Actual (2.6%)

European Monetary Union Consumer Price Index (YoY) above expectations (3.7%) in November: Actual (4.9%)

Greece Producer Price Index (YoY) up to 23.5% in October from previous 19.9%

Greece Retail Sales (YoY): 10.1% (September) vs 6.6%

EU's Gentiloni: Economies are adapted to the crisis

Gold Price Forecast: XAU/USD eyes $1,800 and $1,806 on road to recovery – Confluence Detector

GBP/USD climbs to multi-day top, around 1.3365-70 region

Portugal Consumer Price Index (YoY): 2.6% (November) vs 1.8%

Portugal Consumer Price Index (MoM) remains at 0.5% in November

South Africa Unemployment Rate (%) up to 34.9% in 3Q from previous 34.4%

South Africa Unemployment Total : 7.6M (3Q) vs previous 7.8M

Spain Current Account Balance above expectations (€0.351B) in September: Actual (€2.22B)

AUD/USD rebounds from one-year low, still well offered around 0.7115-20 area

USD/CHF: Downside looks contained around 0.9115 – Commerzbank

Italy Gross Domestic Product (QoQ) meets forecasts (2.6%) in 3Q

Italy Gross Domestic Product (YoY) came in at 3.9%, above forecasts (3.8%) in 3Q

USD/CNH: Outlook now looks mixed near term – UOB

Germany Unemployment Rate s.a. meets forecasts (5.3%) in November

Germany Unemployment Change came in at -34K, below expectations (-25K) in November

US Dollar Index looks weaker, breaks below 96.00 ahead of Powell, data

FX option expiries for November 30 NY cut

GBP/JPY pares intraday losses to eight-week low, remains depressed below 151.00

Hong Kong SAR Retail Sales rose from previous 7.3% to 12% in October

USD/JPY unlikely to extend the drop below 102.70 – UOB

Italy Gross Domestic Product (YoY) in line with expectations (3.8%) in 3Q

Italy Gross Domestic Product (QoQ) meets forecasts (2.6%) in 3Q

USD/CHF seems vulnerable near two-week low, around 0.9200 mark

Austria Producer Price Index (MoM) up to 3.1% in October from previous 1.1%

Austria Producer Price Index (YoY) up to 13.9% in October from previous 10.5%

Spain Retail Sales (YoY): -0.7% (October) vs previous -0.1%

Switzerland KOF Leading Indicator came in at 108.5, below expectations (109) in November

Hungary Gross Wages (YoY) up to 9.2% in September from previous 9.1%

France Consumer Price Index (EU norm) (MoM) came in at 0.4%, above forecasts (0.2%) in November

France Gross Domestic Product (QoQ) in line with forecasts (3%) in 3Q

France Consumer Price Index (EU norm) (YoY) above forecasts (2.7%) in November: Actual (3.4%)

France Producer Prices (MoM) climbed from previous 1.7% to 2.9% in October

France Consumer Spending (MoM) came in at -0.4% below forecasts (0.3%) in October

NZD/USD off one-year low, keeps the red near 0.6800 mark

Forex Today: Dollar retreats alongside yields as focus shifts to EU inflation data, Powell testimony

EUR/USD faces minor resistance around 1.1374/88 – Commerzbank

USD/JPY flirts with 113.00 mark, near three-week low amid risk-off

Denmark Gross Domestic Product (YoY): 3.6% (3Q) vs previous 9.8%

Denmark Gross Domestic Product (QoQ) declined to 0.9% in 3Q from previous 2.8%

Turkey Quarterly Gross Domestic Product came in at 7.4% below forecasts (7.5%) in 3Q

Norway Credit Indicator remains unchanged at 5.3% in October

Denmark Unemployment Rate declined to 2.7% in October from previous 2.9%

USD/CAD: Options market turns most bearish in 18 days

Natural Gas Futures: Further consolidation on the table

USD/ZAR Price Analysis: Overbought RSI tests bulls above $16.00

Yields, Euro Stoxx 50 Futures tumble as Omicron risks escalate

NZD/USD: Extra losses not ruled out – UOB

Crude Oil Futures: Further retracement on the cards

GBP/USD: Room for extra decline below 1.3300 – UOB

South Africa M3 Money Supply (YoY) down to 3.19% in October from previous 4.01%

South Africa Private Sector Credit below forecasts (2.1%) in October: Actual (1.29%)

GBP/JPY Price Analysis: Bearish impulse eyes 150.00

Gold Futures: Rebound looks likely near term

ECB’s de Guindos: Confident that QE will continue throughout 2022 but 2023 unclear

EUR/USD now seen within 1.1220-1.1360 – UOB

Netherlands, The Retail Sales (YoY) dipped from previous 4.7% to 4.3% in October

Breaking: AUD/USD refreshes yearly low near 0.7100 on bearish Doji, Omicron-led fears

GBP/USD Price Analysis: Rebound appears capped near 1.3330

Moderna Chief Bancel predicts existing vaccines will struggle with Omicron – FT

Japan Annualized Housing Starts rose from previous 0.845M to 0.892M in October

Japan Construction Orders (YoY): 2.1% (October) vs previous 27.3%

Japan Housing Starts (YoY) above forecasts (5.2%) in October: Actual (10.4%)

EUR/USD teases 1.1300 as yields weigh on USD, Eurozone inflation, Fed’s Powell eyed

USD/INR Price News: Rupee buyers battle 75.00 ahead of India GDP

Asian Stock Market: Consolidates Omicron-led losses amid cautious optimism

WTI Price Analysis: Firmer inside immediate triangle around $70.00

India: RBI to hike key rate by 20 bps in December despite Omicron covid – Barclays

AUD/CAD: Vulnerable towards 0.85 amid monetary policy divergence – Goldman Sachs

USD/CAD Price Analysis: Downside appears limited amid a bull cross

Commodities. Daily history for Monday, November 29, 2021

Gold Price Forecast: XAU/USD defends $1,780 as yields dwindle on omicron anxiety

Omicron Covid update: Wait and see, meanwhile, traders buy the dip

Yields, S&P 500 Futures portray cautious optimism, coronavirus variant is the key

Japan’s Suzuki: No discussion on fx rates with Yellen

NZD/USD Price Analysis: Focus remains on 0.6800-6790 key support following China PMI

USD/CNY fix: 6.3794 vs the estimated 6.3793

AUD/NZD Price Analysis: 1.05 on the bull's radar on break of 1.0480

Schedule for today, Tuesday, November 30, 2021

AUD/USD keeps mild gains around 0.7150 on mixed China PMI, firmer yields

China's November official Manufacturing PMI back in expansion

China Non-Manufacturing PMI below forecasts (53) in November: Actual (52.3)

China NBS Manufacturing PMI above expectations (49.6) in November: Actual (50.1)

US Dollar Index Price Analysis: DXY bears stay hopeful above 96.00

USD/JPY grinds higher towards 114.00 as yields recover on coronavirus talks

Australia Private Sector Credit (YoY): 5.7% (October) vs 5.3%

Australia Building Permits (YoY) down to -8.1% in October from previous 12.8%

Australia Building Permits (MoM) came in at -12.9%, below expectations (-2%) in October

Australia Private Sector Credit (MoM) came in at 0.5% below forecasts (0.6%) in October

Australia Current Account Balance came in at 23.9B, below expectations (27.8B) in 3Q

Currencies. Daily history for Monday, November 29, 2021

GBP/USD dip buyers take on 1.3320 resistance

New Zealand ANZ Business Confidence declined to -16.4 in November from previous -13.4

New Zealand ANZ Activity Outlook declined to 15% in November from previous 21.7%

EUR/JPY Price Analysis: An inverse head-and-shoulders in the 1-hour chart targets 129.40

Japan Industrial Production (YoY) down to -4.7% in October from previous -2.3%

Japan Industrial Production (MoM) came in at 1.1%, below expectations (1.8%) in October

EUR/USD Price Analysis: Pokes 1.1300 amid bullish RSI divergence

Japan Unemployment Rate registered at 2.7%, below expectations (2.8%) in October

Japan Jobs / Applicants Ratio came in at 1.15, below expectations (1.17) in October

US inflation expectations drop to 17-day low amid coronavirus-led anxiety

AUD/JPY Price Analysis: Medium-and-near term tilted to the downside

Silver Price Analysis: XAG/USD bounces off seven-week low on the way to $22.00

South Korea Industrial Output Growth registered at -3%, below expectations (0.4%) in October

South Korea Industrial Output (YoY) came in at 4.5%, above forecasts (3%) in October

South Korea Service Sector Output below expectations (0%) in October: Actual (-0.3%)

NZD/USD regains 0.6800 as Omicron fears fade, China PMI eyed

United States CFTC S&P 500 NC Net Positions: $123.8K vs $111.2K

United States CFTC Oil NC Net Positions fell from previous 415.8K to 407.7K

United States CFTC Gold NC Net Positions dipped from previous $259.8K to $234.4K

Australia CFTC AUD NC Net Positions declined to $-63.3K from previous $-61.2K

United Kingdom CFTC GBP NC Net Positions declined to £-34.6K from previous £-31.6K

European Monetary Union CFTC EUR NC Net Positions dipped from previous €-3.8K to €-16.5K

US Treasury Sec. Yellen: Confident 'at this point' that US recovery remains strong

AUD/USD Price Analysis: Significant correction unfolds

Fed's Powell: Inflation will linger well into next year

EUR/USD retreats from 1.1300 down to 1.1270s amid mildly improved market sentiment

CAD/JPY Price Analysis: Bears moving in and eye 88.80s on break of 89.00

USD/CAD rejects resistance at 1.2800, reverts back to within intra-day ranges as oil prices unwind earlier gains

Forex Today: Mood improves, dollar advances

Gold Price Analysis: Bears are looking for a break of daily dynamic support

NZD/USD bounces off from new year-to-date low at 0.6787, towards 0.6800

USD/JPY recovers to upper 113.00s, in tandem with tepid recovery in longer-term US yields

AUD/USD bears ready to engage below 0.7110

GBP/USD dips under 1.3300 as sterling traders worry about impact of UK Omicron outbreak

Silver Price Forecast: XAG/USD trades at a seven-week low below $22.85

US President Biden says lockdowns are off the table, for now

US President Biden on Omicron: Variant is a cause for concern, not a cause for panic

USD/MXN Price Analysis: Calm after the storm, could consolidate around 21.50

EUR/USD ebbs lower into 1.1260s, with Friday’s rebound seen as excessive by many