Analysis

2019-11-29
03:51 pmKey releases
02:30 pmUSD/CADGross Domestic Product. Canada, 15:30 (GMT+2)
01:11 pmGBP/USDGBP/USD: restoration of growth
12:44 pmCACCAC: technical analysis
12:11 pmCryptocurrency Market Review
11:00 amEUR/USDConsumer Price Index. EU, 12:00 (GMT+2)
11:00 amEUR/USDUnemployment Rate. EU, 12:00 (GMT+2)
09:55 amEUR/USDUnemployment Rate. Germany, 10:55 (GMT+2)
09:45 amGoldXAU/USD: technical analysis
09:15 amUSD/CADUSD/CAD: the instrument is correcting
09:14 amUSCrudeWTI Crude Oil: general analysis
09:07 amEUR/USDEUR/USD: general analysis
09:00 amUSD/CHFKOF Leading Indicators. Switzerland, 10:00 (GMT+2)
08:58 amNZD/USDNZD/USD: the pair is trading in the flat
08:50 amUSD/JPYUSD/JPY: the instrument is consolidating
08:45 amUSD/CHFUSD/CHF: wave analysis
08:44 amAUD/USDAUD/USD: wave analysis
08:40 amMorning Market Review
08:00 amEUR/USDRetail Sales. Germany, 09:00 (GMT+2)
07:04 amEUR/JPYEUR/JPY: Ichimoku clouds

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01-12-2019 03:51 pm
Key releases

United States of America

USD is strengthening against its main competitors – EUR, GBP, and JPY.

Today, US financial institutions have a shorter working day after Thanksgiving. Banks and exchanges will close earlier than usual, and the economic calendar does not contain significant news. In general, investors are again concerned about the fate of the initial trade deal between China and the United States. A number of observers believe that the entry into force of US laws supporting Hong Kong protests could adversely affect the timing of the signing of the treaty. The Chinese authorities accused the United States of interfering in the internal affairs of the PRC and promised tough retaliatory measures but have not yet announced specific intentions.

Eurozone

EUR is weakening today against its main competitors – JPY, GBP, and USD.

EUR is declining, despite positive preliminary data on EU inflation for November. The Consumer Price Index rose from 0.7% to 1.0%, which is higher than market expectations (0.9%), and the Core CPI increased from 1.1% to 1.3%, which is the best indicator since this April. Data from the labor market in Germany and the EU were also positive. In Germany, the number of unemployed for November fell by 16K, and the unemployment rate dropped to 5.0%, which is close to a record low. Unemployment in the EU for October fell from 7.6% to 7.5%. Only retail sales in Germany disappointed the traders, falling by 1.9% for October. Despite positive statistics, EUR is under pressure due to fears of an aggravation in relations between the PRC and the United States associated with Washington’s support for protests in Hong Kong.

United Kingdom

GBP is weakening against USD and JPY but is strengthening against EUR.

British investors are focused on the election to the British Parliament. So far, the formation of the two coalitions is possible. The first one is the union of the ruling Conservative Party of Boris Johnson and the Brexit Party of Nigel Farage, who advocate for Britain to secede from the EU with or without a deal. The second one is the coalition of the Labor Party of Jeremy Corbin and the National Party of Scotland, Nicola Sturgeon, insisting on the abolition of Brexit or closer cooperation with the EU after the exit. Opinion polls give different numbers but so far, supporters of British independence prevail. The British consumer confidence index published today remained unchanged at –14 points, which is the worst indicator since 2013. In general, British consumers remain pessimistic due to uncertainty with Brexit.

Japan

JPY is weakening against USD and is strengthening against EUR and GBP.

Japanese investors are focused on the comments of the head of the Bank of Japan Haruhiko Kuroda and the publication of a block of economic statistics. The head of the Japanese regulator said that now, there was no need to expand monetary incentives, and also stressed that the Bank of Japan would save means to support the economy in case pressure on it increases due to increased external risks. According to the October data released today, unemployment in Japan remained at the same level of 2.4%, while industrial production declined more than the market expected, by 4.2%.

Australia

AUD is strengthening against its main competitors – EUR, JPY, USD, and GBP.

The movement of AUD is technical in nature. New Home Sales for October, instead of growth by 6.6%, fell by 0.5%, which indicates the weakness of the Australian construction market and the economy as a whole.

Oil

Today, oil prices are moderately falling.

The price is under pressure of fears of worsening of the relations between the US and China and the delay in signing a trade agreement due to Washington's support for Hong Kong protests. On the other hand, the significant extension of the instrument is hindered by the probable extension of the OPEC+ agreement at the next meeting of the cartel and its allies in early December.