Articles
United Kingdom Mortgage Approvals came in at 58.977K, below expectations (60.2K) in October
November 29, 2022 18:40 FXStreet Market News
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South Africa Unemployment Rate (%) came in at 32.9% below forecasts (35.3%) in 3Q
November 29, 2022 18:35 FXStreet Market News
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If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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South Africa Unemployment Total dipped from previous 8M to 7.725M in 3Q
November 29, 2022 18:35 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
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United Kingdom Net Lending to Individuals (MoM) fell from previous £6.8B to £4.7B in October
November 29, 2022 18:33 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
United Kingdom Consumer Credit came in at £0.769B below forecasts (£0.9B) in October
November 29, 2022 18:33 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
United Kingdom M4 Money Supply (YoY) fell from previous 5.4% to 4.8% in October
November 29, 2022 18:29 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Portugal Business Confidence: 1.2 (November) vs previous 1.3
November 29, 2022 18:29 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
USD/CAD bounces off daily low, finds support near 1.3400 ahead of Canadian/US macro data
November 29, 2022 18:26 FXStreet Market News
- USD/CAD comes under fresh selling pressure and is weighed down by a combination of factors.
- A follow-through rally in oil prices underpins the Loonie and exerts pressure amid a weaker USD.
- The emergence of some buying around the 1.3400 mark warrants some caution for bearish traders.
- Investors now look to monthly Canadian GDP and US Consumer Confidence for a fresh impetus.
The USD/CAD pair struggle to capitalize on its recent move up to over a two-week high – just above the 1.3500 psychological mark – and meets with a fresh supply on Tuesday. Spot prices, however, manage to find some support ahead of the 1.3400 round figure and bounce back to the 1.3450 area during the first half of the European session.
The overnight US Dollar bounce from a technically significant 200-day SMA fades rather quickly amid growing acceptance that the Fed will slow the pace of its policy tightening. Apart from this, a strong follow-through rally in crude oil prices underpins the commodity-linked Loonie and exerts downward pressure on the USD/CAD pair.
Crude oil prices build on the previous day’s solid recovery from the YTD low and rally around 2% amid speculations that OPEC will announce more supply cuts at its meeting on Sunday. The upside for the black liquid, however, remains capped amid worries that the worsening COVID-19 situation in China will hurt economic activity and dent fuel demand.
Moreover, the overnight hawkish remarks by Fed officials, along with the cautious mood, lend support to the safe-haven buck and the USD/CAD pair. It is worth recalling that St. Louis Fed President James Bullard, New York Fed President John Williams and Fed Vice Chair Lael Brainard reiterated that more rate hikes were warranted to combat inflation.
That said, a dovish assessment of the November FOMC meeting minutes released last week cemented bets for a relatively smaller 50 bps lift-off in December. This might continue to act as a headwind for the USD and cap gains for the USD/CAD pair. Hence, it will be prudent to wait for a sustained strength beyond the 1.3500 mark before placing fresh bullish bets.
Market participants now look forward to Tuesday’s economic docket, featuring the release of monthly Canadian GDP print and the Conference Board’s US Consumer Confidence Index. This, along with the risk sentiment, will drive the USD demand. Traders will further take cues from oil price dynamics to grab short-term opportunities around the USD/CAD pair.
Technical levels to watch
Full ArticleEuropean Monetary Union Business Climate: 0.54 (November) vs previous 0.76
November 29, 2022 18:26 FXStreet Market News
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If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
European Monetary Union Consumer Confidence in line with forecasts (-23.9) in November
November 29, 2022 18:21 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
A US Dollar recovery may be on the cards this week – ING
November 29, 2022 18:21 FXStreet Market News
Markets are keeping an eye on developments in China. Furthermore, Fed Chair Jerome Powell’s speech tomorrow and Nonfarm Payrolls on Friday are two key risk events. All in all, stars may be aligning for a Dollar recovery, in the view of economists at ING.
Bracing for a hawkish Powell
“Investors appear to be gravitating towards the risk-negative narrative of possible instability in China, despite the fact that this may prompt China to expedite its exit from Covid restrictions – likely a risk-on development.”
“This week’s events, which include tomorrow’s speech by Fed Chair Jerome Powell (where we see a higher likelihood that he will sound hawkish) and US jobs data (which could stay strong), may cause the Fed’s communicated and perceived narrative to drift away from dovish pivot expectations.”
“A 2Y10Y UST curve displaying a 75/80 bps inversion is indicating a common perception that the Fed will push forward with tightening into a recession. This should be a Dollar-positive combination.”
“We believe the Dollar can find some further support today as markets favour defensive trades ahead of key events later this week. Prior to Powell’s speech, a return to 107.00/107.50 levels in DXY is possible.”
Full ArticleEuropean Monetary Union Services Sentiment registered at 2.3 above expectations (2) in November
November 29, 2022 18:17 FXStreet Market News
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If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.