Global Market Wrap and Monitoring.
- The US dollar resumed its downward movement after the FOMC.
- U.S. indices continue to climb higher.
- A constant stream of economic data and important emerging events.
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This week’s economic calendar is full of a variety of market-moving economic releases that will help position the market ahead of the mid-December round of global monetary policy decisions. Among others, we have German inflation and jobs, Canadian and Swiss Q3 GDP numbers, Eurozone inflation, speeches by Fed Chair Jerome Powell and Bank of Japan Kuroda, Canadian employment, and US core PCE. are closely watched. – Payroll Farm release.
See for all market news and economic events DailyFX Calendar.
Last week’s short-term holiday market was dominated by the weakness of the US dollar after the FOMC minutes revealed that most members think a slowdown in the pace of rate hikes may be appropriate. Just a hint by the Fed that it might take its foot off the accelerator sent the US dollar lower and raised a number of risk markets. The market is now waiting for the 50 basis point level at the Fomc-Decemberile Fomc meeting.
Basic Predictions for w/c 28 November 2022
Major Market Events Ahead for S&P 500, FTSE 100, DAX and Nikkei
Liquidity will return next week to a market that has seen both seasonal suppression and structural volatility. As we head into the end-of-the-year holiday period that often raises expectations for a decline in activity and participation, there’s no guarantee that silence will prevail.
Pound Baseline Forecast: Traders Expect Booster Black Friday Sales
UK retailers hope Black Friday shopping will boost spending ahead of the festive season amid one of the worst cost-of-living crises the UK has seen in years.
Australian Dollar Outlook: A Sinking US Dollar Floats All Ships
The Australian dollar rose to a 2-month high late last week as the US dollar collapsed on market perceptions of a change in Federal Reserve policy.
US Dollar Outlook: Will Heavy Data Sustain Continued Weakness in US Dollar?
The US dollar continues to decline in anticipation of a slightly less dovish Fed outlook. The US dollar traded one-way for most of 2022, before the recent reversal. DXY is down 8% since the end of September.
Euro Week Ahead: Best EUR/USD Month Since 2010? A look at the Eurozone CPI
It is likely headed for its best month since September 2010 as markets focus on the relationship between the Fed and the ECB. EUR/USD eyes Eurozone CPI and non-farm payrolls data.
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Technical Forecasts for w/c November 28, 2022
Gold (XAU/USD) Firms Around Technical Support Momentum Zone
Gold prices have returned to a technical support and resistance zone around the key psychological level of $1,750. Can the bears push XAU higher or will the bears move in?
US Dollar Technical Forecast: EUR/USD, GBP/USD, USD/CAD, USD/JPY
The US Dollar’s upward trend remains unchanged after hitting a twenty-year high in September. October’s price action put indecisiveness into the mix but so far, November has been a quick turnaround as prices have pulled back.
Bitcoin (BTC), Ethereum (ETH) Weekly Forecast: A Potential Short-Term Uptrend
Bitcoin and Ethereum are both in the process of making significant technical formations that may lead to short-term collapses.
S&P 500 and Nasdaq Composite Index Technical Forecast: Looking for an Outlier?
After a holiday-shortened week, the S&P 500 is in key territory, a break above that could increase the chances that medium-term weakness in US equities is beginning to reverse.
Japanese Yen Weekly Forecast: 140 Key to USD/JPY Ahead of US Economic Data
Technical analysis considers the 140.00 pivot point important for the short-term directional challenge for USD/JPY.
What is your view on market sentiment? – high or low?? You can let us know using the form at the end of this section or you can contact the author via Twitter @nickcawley1.