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2020-11-27 • Updated
CAD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a new bullish outlook.
XAU/USD: Gold sell off gains’ momentum. Bears control market.
U.S. stocks are set to open higher Friday, although gains are likely to be limited with the market set to close early in the aftermath of the Thanksgiving Holiday. Generally positive coronavirus vaccine news and emerging political certainty in the U.S. have prompted strong gains on Wall Street, with the Dow Jones Industrial Average topping the 30,000 mark for the first time earlier this week. Sterling remains near three-month highs against the U.S. dollar, despite U.K. Finance Minister Rishi Sunak’s horrific spending review a couple of days ago. Crude oil prices traded mixed Friday, but still close to their post-pandemic highs as attention turns to next week’s crucial meeting of OPEC+.
President Donald Trump said on Thursday he will leave office if the Electoral College votes for President-elect Joe Biden. This is the closest he has come to conceding the election, and adds to the feeling of normalcy returning to U.S. political circles. It’s Black Friday, traditionally the busiest shopping day in the United States, but this being 2020, things are set to be different.
Pictures of shoppers fighting to get into shops in the search for bargains have been the staple of news channels for years, but Covid-19 restrictions have forced shops to divert most purchases online. Many major retailers, hit hard by the pandemic, started offering their Black Friday promotions much earlier than usual, taking their lead from Amazon (NASDAQ:AMZN) hosting their Prime Day in the middle of October, in order to capture as much holiday-related trade as possible.
The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.
US100 broke through the strong resistance trendline, following July's inflation numbers on Wednesday, which were less than analysts expected…
Powell wants a soft landing for inflation, as Greenspan did in 1994. But it looks like he will get a hard landing.
Over the last couple of weeks, GBPUSD and a few other commodities have breached their recent swing highs and lows, while some have even gone on to create new All-Time Highs and Lows
A United Nations agency is warning that the central bank’s actions create a high risk of pushing the global economy into recession.
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
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