The Australian unemployment rate will be released on August 13 at 4:30 MT time!
Market updates on November 14
Key event ahead
Fed Chair Powell Testimony – 17:00 MT time (15:00 GMT)
- On the H1 chart of the EURUSD, the price has started the day with a drop to 1.0993. After that, it bounced back up and reached 1.1009 making a 16 pips rise. It is a relatively strong push in the upward direction shown only once during the last two weeks. It may be a signal of a strong bullish intention to break an overall falling trend dominant since the beginning of November. The resistance levels may be located at 1.1009 and 1.1015. The bears may watch the support of 1.0993, which is a 4-weeks low so far.
- The US dollar has been mostly dropping against the Japanese yen since last Thursday. On the H4 chart of USDJPY, the 108.57 low reached on November 4 may be a support level for the bears to watch as it is being tested. The next support may be located at 108.14. The bulls may place the resistance levels at 108.85 and 109.09.
- The New Zealand dollar is on a steady rise after Wednesday’s skyrocketing due to the interest rate by the Reserve Bank of New Zealand being higher than the forecast. On the H1 chart of NZDCAD, the price trades above the new support levels of 0.8472 and 0.8463. If it continues rising, it may have the resistance levels at 0.8488 and 0.8500 on its way.
The US dollar edged higher, while gold dipped down. Let’s discuss main news and market movements in detail.
The market sentiment improved after the USA reported some decreasing in coronavirus hospitalizations. Gold dropped below $2 000 and the US dollar dipped down, while stocks surged. Let’s have a closer look.
Follow the report on August 14 at 15:30 MT time!
The market sentiment switched to risk-on. The US dollar is dipping down, while riskier assets are rising, especially the Australian dollar after the positive employment data. All eyes on US unemployment claims.
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