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Hello everyone, today XM Forex will bring you "[XM Forex Decision Analysis]: Risks collapsed at the beginning of December! Japan has sent the clearest signal to date to raise interest rates." Hope this helps you! The original content is as follows:
On December 1, financial markets adopted a cautious attitude this week and early December, with U.S. stock index futures falling between 0.5% and 1% on Monday morning in Europe. In the second half of the day, the U.S. economic calendar will release the November Manufacturing Purchasing Managers Index (PMI) report from the Institute for Supply Management (ISM).
In the Asian trading day, Chinese data showed that the RatingDog manufacturing PMI fell to 49.9 in November, down to the contraction range from 50.6 in October. The reading was below market expectations of 50.5. After rising nearly 1.5% last week, AUD/USD fell slightly on Monday, trading below 0.6550.
The Federal Reserve (USD) Index fell more than 0.7% last week, as dovish www.xmasseuse.comments from Fed officials fueled expectations of a 25 basis point (bps) interest rate cut in December. Fed Chairman Jerome Powell will participate in a panel discussion on George Shultz and his contributions to economic policy, but he is expected to speak on monetary policy as the Fed is in the midst of a lockdown ahead of its Dec. 9-10 meeting. The U.S. dollar index held around 99.50 ahead of the start of European trading on Monday.
Bank of Japan Governor Kazuo Ueda said on Monday that delaying interest rate hikes for too long could lead to severe inflation, forcing the central bank to quickly adjust its policies. USD/JPY remains under mild bearish pressure, heading towards a decline to 155.50 early Monday.
EUR/USD remained relatively stable on Monday and consolidated last week's gains, just below 1.1600. On Tuesday, Eurostat will publish the Harmonized Consumer Price Index (HICP) inflation number for November.according to.
GBP/USD fell slightly on the daily line on Friday, but rose by about 1% this week. The pair gradually moved lower, approaching 1.3200, to start the European trading day.
Gold remained positive at the start of Monday's European trading day and appears poised for further gains amid supportive fundamentals. Traders have increased bets on another rate cut by the U.S. central bank in response to recent dovish www.xmasseuse.comments from several Fed officials. The dovish outlook in turn pushed the U.S. dollar (USD) to near two-week lows and continued to support non-yielding gold.
Euro: EUR/USD range trading continues, with the intraday bias remaining neutral. The resistance level of 1.1655 still exists and further decline is expected. On the downside, a break below 1.1490 and 1.1467 will resume the overall decline from the 1.1917 high. The next target is 1.1390, followed by the 38.2% retracement from 1.0176 to 1.1917, 1.1252. However, a decisive breakout of 1.1655 would signal that the decline from 1.1917 is www.xmasseuse.complete and bias the trend back towards the 1.1727 resistance and above.
The above content is all about "[XM Foreign Exchange Decision Analysis]: Risk collapse at the beginning of December! Japan has sent the clearest signal to raise interest rates so far". It is carefully www.xmasseuse.compiled and edited by the XM Foreign Exchange editor. I hope it will be helpful to your trading! Thanks for supportinghold!
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