News to trade on November 28

• US preliminary GDP is due to release today at 15:30 MT time. The economy of the US grew by 3.5% in the last quarter.  The digits came as a result of positive releases of private inventory investment, personal consumption expenditures, local and state government spending, nonresidential fixed investment, and federal government spending. Analysts anticipate the preliminary GDP to reach 3.6%. If this data is higher than expected, it will contribute to the rise of the USD. 

In addition, at 19:00 MT we anticipate the speech by the Fed Chair Jerome Powell. His speech may provide clues on the Fed's view of the US economy and the further rate hikes.

During the American session, Trump commented again on the rate hikes by the Fed, mentioning that he is "not even a little bit happy" with the Fed Chair Jerome Powell.

As a result, the US dollar index has slid a little today. Further direction of the index depends on the Fed chair comments and the GDP release. If they provide the positivity to the investors, the US Dollar index can rise towards the resistance at 97.48. In case of disappointment, it can fall below the support at 97.16

• Britain is awaiting the bank stress test results at 18:30 MT. It is the spotlight of the day for the GBP traders, as it will give an insight into the UK economy ability to survive a hard Brexit. In addition, the financial stability report will be published and the BOE's Governor Mark Carney will deliver his speech afterward. In addition, the British central bank will be publishing its economic assessment of the Brexit outcome during the day. However, any fresh news on the Brexit approval ahead of the House of Commons decision scheduled on December 11 will bring volatility to the British pound. Positive data and confident Carney will push GBP/USD towards the resistance at 1.2832. In the negative case, the pair will fall below the support at 1.2738.

• The news about the US-China talks remain the market movers ahead of the Friday's China president Xi Jinping meeting with US president Donald Trump. Earlier today, Chinese president commented on the widening market access for foreign investors. As a result, the risk-on sentiment across the markets increased. The Antipodeans were lifted by the news. For now, AUD/USD has tested 100-day MA. If the risk-on sentiment increases, the pair can rise towards the resistance at 0.7253. In case of negative news on the escalation of the trade war, the pair will fall towards the 0.7179 support.

• As for NZD/USD, it has tested the 0.6806 resistance today. More positivity among the investors will push the pair above this level. The next resistance for the pair lies at 0.6844. Otherwise, it will fall towards the support at 0.6738.

Similar

22.02.2019 15:51 German business confidence heads south to 5-year minimum in February

In February, German business confidence reached hit its weakest value for almost five years without any signs of a turnaround yet in sight, as follows from a closely-watched business poll published on Friday…

growth economy europe

21.02.2019 20:48 Dismal American data underscores soaring headwinds to US economy

In December, new orders for major American capital goods suddenly slumped in the face of decreasing demand for machinery as well as primary metals, indicating a sustained deceleration in business spending on equipment, which could further impact economic…

economy federal reserve us

20.02.2019 17:34 American mortgage requests head north as loan rates keep to 10-month minimum

American mortgage applications tacked on for the first time for five weeks because most home borrowing costs kept to their lowest value for 10 months…

economy us prices

Latest news

09.11.2018 10:07 Weekly CryptoNews

Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!

ethereum bitcoin litecoin dash

08.05.2017 08:48 Most Asian stocks post strong revenues with Nikkei rising more than 2%

On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…

09.05.2017 06:11 Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…