After last week's CPI turned the markets upside down, we are looking at the performance of the US dollar…
USD/JPY: forecast for Nov. 27 - Dec. 1
The decline of USD/JPY continued. The pair slide to 111.00 area. The general weakness of the US dollar was the main reason behind its decline.
With a December Fed rate hike almost fully priced in by now, and uncertainty about next year's Fed policy plans, there are reasons to expect further weakness in USD/JPY by the year-end.
As usual, the focus will be on the US economic calendar with such releases as new home sales, CB consumer confidence, preliminary GDP, core PCE price index and ISM manufacturing PMI. At the same time, by the end of the week, we’ll hear from Japan as well: there will be industrial production figures on Thursday and inflation on Friday.
Resistance lies at 111.70 and 112.20, where we find 200- and 50-week MAs. These lines are about to produce a negative intersection. A decline below 111.00 will open the way down to 110.25 (100-week MA).
The release of the US CPI on Wednesday will determine whether US500 continues its advance or reverses down. Tensions between the US and China boosted the demand for gold, but will it persist?
Gold still has space to fall, and the euro is trying to price the ECB rate hike. Inflation readings, Elon Musk problems, earning reports, and the overall market outlook for forex await you in this video.
Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.
After the US CPI last week came out above the forecast, traders started expecting a 75-basis point rate hike…
In this video, we will talk about the potential change of a trend in the euro, another stock rally amid a global downtrend, gold prospects, and news that shakes the world right now. It’ll be a helpful video you don’t want to miss.