The GBPUSD has moved down to retest the 100 hour MA, the high price from November 15 and the Asian session low. All those levels come in between 1.20247 and 1.2036. A move below that area would tilt the short term bias to the downside from a technical perspective, with more work to do for
Prior 66.79k Net consumer credit £0.77 billion Prior £0.75 billion Mortgage activity eases further with the effective’ interest rate on newly drawn mortgages seen increasing by 25 bps to 3.09% in October. Meanwhile, net borrowing of mortgage debt by individuals decreased from £5.9 billion to £4.0 billion on the month. As for consumer credit growth,
China’s COVID-19 protests cemented as NFTs Nonfungible tokens (NFTs) depicting the ongoing protests in China against the country’s tough zero-tolerance COVID-19 policy have found their way to the NFT marketplace OpenSea. At least two collections have been created in November, the first is a Polygon (MATIC)-based collection called “Silent Speech” featuring 135 NFTs depicting images
Gold prices were flat in early Asian trade on Tuesday after declining about 1% in the previous session as U.S. Federal Reserve officials signalled that interest rates would remain high to bring down inflation. FUNDAMENTALS * Spot gold was flat at $1,741.13 per ounce, as of 0007 GMT. U.S. gold futures were little changed at
Yen and Dollar rise broadly in Asian session today while Australian Dollar leads commodity currencies lower. Markets are trading with risk-off sentiment, with deeper selloff in China and Hong Kong markets. Large scale protests were carried out in multiple cities in China over the weekend, and the theme has escalated from anti-lockdown to anti-President Xi
USD/JPY is facing selling pressure above 138.50 as the risk-off impulse has lost its traction. Market participants are divided on decisions over deceleration in an interest rate hike by the Fed. A Reuters poll claims that the BOJ could consider unwinding monetary easing in the second half of 2023. The USD/JPY pair has witnessed a
You hate to see something rally to a five week high and then turnaround and close solidly negative. That’s what has happened in EUR/USD and it may be the trigger the bears are looking for. It marks an outside day out the daily chart and a sharp reversal. That’s an ugly pattern. The only caveat
ING Research discusses its bias on EUR/USD this week. “The highlight of the eurozone data calendar this week will be November price data – released for Germany tomorrow and for the eurozone on Wednesday. The question is whether inflation will fall back from the highs (not far from 11% year-on-year) and allow the European Central
Metro Atlanta is on a hot streak. More than 6 million people now live in the region, according to recent Census Bureau estimates. Experts say that’s about a 50% increase from 20 years ago. “It’s a huge increase in population,” said Dan Immergluck, a professor of urban studies at Georgia State University. “That has taxed
Abu Dhabi National Oil Company (ADNOC) will cut 5% of the December crude oil supply to some term-lifters in Asia but will provide full contractual volumes in January, five sources with knowledge of the matter said on Monday. The oil producer cited the operational tolerance clause which can adjust loading volumes by typically plus or
Risk aversion is the theme of the day as protests in China spread to multiple cities. There might be talks that pressure is mounting on the government to exit zero-Covid policy early. Investors are clearly more pessimistic on guard of escalations, which could further disrupt the economy. Australian Dollar continues to lead commodity currencies as
Economists at Deutsche Bank see the S&P 500 at 4500 in the first half of next year while EUR/USD is likely to hit 1.15 by late 2023. 2023 should be a more positive year for Treasuries “When it comes to financial markets, our baseline view is that the current bear market equity rally will continue
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GBPUSD moves closer to the 200 day MA The GBPUSD is moving higher in trading at the highest level since August 12 in the process. The high price has reached 1.20428 so far. Looking at the daily chart, recall from yesterday the price extended up to and above the 50% of the 2022 trading range.
Stocks down. Bond yields down. Dollar and yen up. It’s a classic risk-off and haven demand move in markets so far today. China protests over the weekend is the main story and that is going to be a challenge for Beijing to handle. Such a situation is rare for the country but amid its prolonged
Tesla CEO Elon Musk has seemingly given the cold shoulder to a $600,000 monument of him in goat form — which was created as part of a bizarre crypto marketing stunt. Delivered to Tesla’s Austin headquarters on Nov. 26, the 30-foot, 12,000-pound metal statue of Elon Musk was part of a publicity stunt by the