Global Markets:
- Asian stock markets: Nikkei up 0.75 %, Shanghai Composite lost 0.15 %, Hang Seng declined 0.05 %, ASX 200 fell 0.10 %
- Commodities: Gold at $1132 (+0.25 %), Silver at $16.13 (+1.05 %), WTI Oil at $51.20 (+0.65 %), Brent Oil at $54.30 (+0.50 %)
- Rates: US 10-year yield at 2.58, UK 10-year yield at 1.49, German 10-year yield at 0.36
News & Data:
- NZ ANZ Consumer Confidence Nov: down 2.1% to 124.5 (prev up 3.5% to 127.2)
- PBoC fixes yuan at 6.9508 (prev 6.9289)
- Asia stocks tepid, dollar near 14-year peak on Fed rally – RTRS
- Oil prices edge up as Kuwait cuts supplies by more than expected – RTRS
- Rising rents lift U.S. inflation; labour market tightens – RTRS
Markets Update:
It was quiet in the Asian session, with no notable data releases. The Dollar weakened slightly against the other major currencies, with EUR/USD rising from 1.0405 to 1.0435 and GBP/USD from 1.2380 to 1.2430. In EUR/USD, the outlook remains negative and there is not much support until 1.03 now, while resistance is seen at 1.0470 and 1.0520.
USD/JPY fell from 118.40 to 117.95 in the early Asian session, but bounced from there and recovered to 118.20. Momentum remains strong, and the next major obstacle lies now at 120. Support is noted at 117.50/60 and 116.20.
AUD/USD traded 0.7350-70 overnight, while NZD/USD consolidated between 0.7020 and 0.7050.
Gold has been under a lot of pressure this week, but managed to bounce off $1125 for now. Further losses seem likely however, and $1150 will likely act as strong resistance in the near-term.
Upcoming Events:
- 10:00 GMT – Euro Zone Trade Balance
- 10:00 GMT – Euro Zone CPI
- 13:30 GMT – US Housing Starts
- 13:30 GMT – US Building Permits
