Global Market Summary and Lookahead
- US Dollar Returns to Lows After FOMC
- The US index continues to rise.
- Highly sensitive economic data and events continue to flood in.
This week’s economic calendar is jam-packed with a series of market-changing economic news that will help position markets ahead of a global monetary policy decision in mid-December. Upcoming German Inflation and Employment Numbers GDP Canadian and Swiss Q3 Inflation in the Euro Area President Fed Jerome’s Speech Powell and Kuroda Bank of Japan Canadian Employment and Key PCE and Non-US Closely Watched -Farm Payroll Release
For full releases of market movements and economic events, please see DailyFX Calendar
Markets that were shorter during last week’s holiday were dominated by the weakening of the US dollar after the minutes of the meeting. FOMC It revealed that most members thought a slower rate hike might be appropriate. The Fed’s mere nod that it might withdraw its foot from the accelerator has weakened the US dollar and raised risky markets. Markets are now expected to raise interest rates to 50 basis points at the meeting. FOMC mid december
Basic forecast for November 28, 2022.
Serious market events lie ahead for the S&P 500, FTSE 100, DAX and Nikkei.
Liquidity will return next week to markets where both seasonal and structural volatility has been suppressed. As we head into the holiday season, the end of the year often inflates expectations for lower activity and engagement. There is no guarantee that silence will prevail.
Pound Fundamentals Forecast: Retailers Hope To Boost Black Friday Sales
UK retailers hope Black Friday shopping will boost pre-festival spending during the UK’s worst cost-of-living crisis in years.
Australian Dollar Outlook: A Sinking Dollar Floats All Ships
The Australian dollar rose to a two-month high late last week. As the US dollar collapsed due to the market’s perception of the policy change by the Federal Reserve.
US Dollar Outlook: Will Lots of Data Hinder the Continued Decline of the US Dollar?
The US dollar continued to fall in anticipation of a slight decline in the Fed outlook. The US dollar has been a one-way trade for most of 2022, before the recent reversal. DXY is down 8% from late September.
Euro Next Week: EUR/USD Heading For Best Month Since 2010? Keep an eye on Eurozone CPI.
The euro is likely to enter its best month since September 2010 as markets focus on the relationship between the Fed and the ECB. EUR/USD Keeping an eye on Eurozone CPI and non-farm payrolls data.
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Technical forecast for November 28, 2022
Gold (XAU/USD) strengthened around the key technical support.
Gold returns to technical support and resistance zones around key psychological support at $1750. Can bulls push XAU higher or will the bears step in?
US Dollar Technical Forecast: EUR/USD, GBP/USD, USD/CAD, USD/JPY
The US dollar’s upward trend remains halted after hitting a new 20-year high in September. The October price action brought uncertainty into the mix. but until now November was a sharp reversal as prices had reversed.
Bitcoin (BTC), Ethereum (ETH) Weekly Forecast: Potential Short-Term Bounce Ahead
Bitcoin and Ethereum are both in the process of forming dominant technical patterns that could lead to a breakout in the short term.
Technical Outlook for S&P 500 and Nasdaq Composite Index: Looking for a Bullish Retracement?
After a shortened holiday week, the S&P 500 is at a critical crossroads. A break above this level may increase the likelihood that the medium-term weakness in the US stock market will begin to reverse.
Japanese Yen Weekly Forecast: 140 Keys for USD/JPY Ahead of US Economic Data
Technical analysis holds the turning point at 140.00, which is important for the short-term direction for USD/JPY
What is your opinion on market sentiment? – Bullish or rude?? You can let us know via the form at the end of this article. Alternatively, you can contact the author via Twitter. @nickcawley1.
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