USD bulls try to resist

USD bulls try to resist

2020-12-01 • Updated

2020_12_01_14_29_00_Template1_PowerPoint.png

EURUSDM30.png

2020_12_01_15_11_50_Template1_PowerPoint.png

USDJPYM30.png

Ichimoku Kinko Hyo

USD/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.

USDJPYM30 ich.png

Fibonacci Levels

XAU/USD: Gold gains after a period of the significant selloff. Gold remains below the key 38.2% retracement area while bulls resist further selloff. 

XAUUSDH4.png

US Market View

World shares edged up to just below record peaks on Tuesday after robust China data boosted expectations of a recovery from the COVID-19 downturn and as drugmakers seek fast approval for their vaccines and authorities look set to keep stimulus support.

Bets of more easing from the Fed in the United States to help the pandemic-hit economy through the winter weighed on the dollar, as riskier currencies rose, while crude prices missed out on the bounce after OPEC+ countries delayed a decision on output cuts. In foreign exchange markets, the dollar was under pressure after closing out its worst month since July with a little bounce and as investors reckon on even more US monetary easing. In a speech released late on Monday, Fed chair Jerome Powell said a slowing recovery and a surging pandemic meant the US was entering a "challenging" few months, with the potential deployment of a vaccine still facing hurdles.

Elsewhere sterling hit a three-month high as traders clung to hopes for a Brexit trade deal before the year's end, while risk-related currencies such as the Canadian and Australian dollar rose against the greenback.

USA Key Point

  • Cable eases back to key near-term levels on the pullback after testing 1.3400
  • UK November final manufacturing PMI 55.6 vs 55.2 prelim
  • Eurozone November final manufacturing PMI 53.8 vs 53.6 prelim
  • Germany November unemployment change -39.0k vs 8.0k expected
  • France November final manufacturing PMI 49.6 vs 49.1 prelim

TRADE NOW

Similar

Worst Awaits Risk Assets in September
Worst Awaits Risk Assets in September

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.

Latest news

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera