What is the first month of winter preparing for us on “raw” instruments? Here’s a comprehensive analysis of the development options for the movement AUD / USD vs USD / CAD vs NZD / USD vs #USDX from November 27, 2019 on the Minor operational scale (daily timeframe).
US dollar Index
The dollar index is in the 1/2 Median Line channel of the Minor operational scale forks, therefore, the further development of the #USDX movement from November 27, 2019 will become determined by the development and direction of the breakdown of the boundaries (98.30 – 98.65 – 99.00 ) of the mentioned channel/
A combined breakdown of the upper boundary of the 1/2 Median Line channel (resistance level of 99.00) of the Minor operational scale forks and the 1/2 Median Line Minute (99.05) will make it relevant for the dollar index to reach the upper boundary ISL61.8 (99.45) of the equilibrium zone of the Minuette operational scale forks, the initial line SSL Minor (99.55) and maximum (99.67).
On the other hand, the breakdown of support level 98.30 on the lower boundary of the channel 1/2 Median Line Minor will determine the movement#USDX to the boundaries of the…
After ending the previous session modestly higher, the price of crude oil saw some further upside during trading on Tuesday. Crude for January delivery climbed $0.40 to $48.41 a barrel after ending Monday’s trading up $0.24 at $58.01 a barrel. The price of crude oil benefited from persistent optimism that the U.S.-China will ultimately reach an agreement to end their long-running trade dispute. A statement from China’s Commerce Ministry revealed Chinese Vice Premier Liu He held a phone call with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steve Mnuchin earlier Tuesday. The statement said the two sides discussed how to resolve each other’s core concerns, reached consensus on how to resolve related issues, and agreed to maintain communication on the remaining issues in the first phase of agreement negotiations. Traders were also looking ahead to reports on weekly oil inventories, with the Energy Information Administration’s report on Wednesday expected to show a modest drop in crude oil inventories in the week ended November 22nd. On the U.S. economic front, the Conference Board released a report unexpectedly showing a continued drop in consumer confidence in November. The Conference Board said its consumer confidence index fell to 125.5 in November from…
Good evening, dear traders! Congratulations to those who took advantage of our trading idea for the AUD/USD pair, which was provided last November 25.
Let me remind you that the idea was to develop the lower daily area in a downward trend:
As you can see, the first goal is taken:
The collapse did not follow, so I recommend taking profits.
Good luck in trading and see you tomorrow morning!
The material has been provided by InstaForex Company – www.instaforex.com…
The Treasury Department continued this week’s announcements of the results of its long-term securities auctions on Tuesday, revealing that its auction of $41 billion worth of five-year notes attracted above average demand. The five-year note auction drew a high yield of 1.587 percent and a bid-to-cover ratio of 2.50. Last month, the Treasury also sold $41 billion worth of five-year notes, drawing a high yield of 1.570 percent and a bid-to-cover ratio of 2.41. The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold. The ten previous five-year note auctions had an average bid-to-cover ratio of 2.38. Looking ahead, the Treasury is due to announce the results of its auction of $32 billion worth of seven-year notes on Wednesday. The material has been provided by InstaForex Company – www.instaforex.com…
The contrast of recent macroeconomic data demonstrates how responsive the American economy is to monetary incentives, while economic stagnation is developing in Europe. Strong data from the US at this stage support the greenback, reinforcing the belief that the Federal Reserve will take a long pause in the process of lowering the interest rate. It is difficult to say the same thing about the eurozone, where there are more and more signs of decline.
According to IFO analysts, the German manufacturing sector managed to get out of the recession. This comment exerted strong pressure on the single European currency, despite the quite decent IFO business climate indices.
As preliminary PMI data on manufacturing activity in Germany showed, the pace of decline in this sector has slowed. However, this positive news was offset by indicators of the service sector, which turned out to be worse than forecasts and showed that the weakening went beyond the manufacturing sector.
In general, the indicators of the locomotive of the eurozone continue to adversely affect the rate of the single European currency.
The EUR/USD rate was near the psychological level of 1.1000.
The main currency pair managed to stay above this mark primarily due…
The US currency began the week on a positive and intends to continue the fight in the same vein. The greenback upward trend is helped by the stability of the American economy and the peppy mood in the market with respect to the EUR/USD pair. Many analysts are confident that the dollar will strengthen its position in the near future.
The current market sentiment towards the EUR/USD pair has fully turned towards the greenback, experts emphasize. Analyzing the situation with the European currency, they note that there were no attempts to raise the euro on Monday, November 25. According to experts, the reason for this was the loss of hope for a change in the ECB policy after the arrival of Christine Lagarde. Recall that in her speech, the new leader confirmed the position of Mario Draghi, making it clear that it is useless to wait for the strengthening of rates. As a result, the European currency was under strong pressure and could not rise, analysts say.
Unlike its counterpart in the EUR/USD pair, the dollar feels at the height, again showing the desire to move up. Support for the greenback is provided by strong macroeconomic data from the…
Reflecting a softening in consumers’ assessment of current conditions, the Conference Board released a report on Tuesday showing U.S. consumer confidence unexpectedly declined for a fourth consecutive month in November. The Conference Board said its consumer confidence index fell to 125.5 in November from an upwardly revised 126.1 in October. Economists had expected the consumer confidence index to inch up to 126.9 from the 125.9 originally reported for the previous month. The unexpected drop by the headline index came as the present situation index slumped to 166.9 in November from 173.5 in October. “The decline in the Present Situation Index suggests that economic growth in the final quarter of 2019 will remain weak,” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. The percentage of consumers claiming business conditions are “good” crept up to 40.2 from 39.7 percent, but those claiming business conditions are “bad” also increased to 13.8 percent from 11.0 percent. Consumers’ assessment of the job market was less favorable, with those saying jobs are “plentiful” falling to 44.8 percent from 47.7 percent and those claiming jobs are “hard to get” rising to 12.7 percent from 11.6 percent. “However, consumers’ short-term expectations improved modestly, and…
With revised data showing U.S. new home sales spiked in September compared to the previously reported decrease, the Commerce Department released a report on Tuesday showing new home sales pulled back in the month of October. The Commerce Department said new home sales fell by 0.7 percent to an annual rate of 733,000 in October after surging up by 4.5 percent to an upwardly revised rate of 738,000 in September. Economists had expected new home sales to jump by 1.1 percent to a rate of 709,000 from the 701,000 originally reported for the previous month. With the upward revision, new home sales in September were at their highest level since hitting 778,000 in July of 2007. The pullback in new home sales in October came as sales in the Northeast plunged by 18.2 percent to a rate of 27,000. New home sales in the South also tumbled by 3.3 percent to a rate of 436,000. On the other hand, the report said new home sales in the West soared by 7.1 percent to rate of 195,000 and new home sales in the Midwest jumped by 4.2 percent to rate of 75,000. The Commerce Department said the median sales price of…