Forex news for NY trading on November 23, 2018
- Key economic events next week
- The CHF is the strongest currency this week. The NZD is the weakest.
- US bond market closed for the week
- US crude oil futures call it a week. Settle at $50.42. Down -7.71% today.
- US stocks end the day and week with declines
- N. Ireland DUP leader: If May is successful in Parliament, will need to revisit government agreement
- Saudis and OPEC quietly mulling clandestine oil output cut - report
- European shares end the week with mixed but modest results
- NY Fed Nowcast dips to 2.5% from 2.6% last week
- Spain insists guarantees about Gibraltar future should be part of Brexit
- Crude oil below 50% retracement level
- Brexit: EU leaders to tell Britain they are determined "to have as close as a possible partnership"
- US November Markit prelim services PMI 54.4 vs 55.0 expected
- Canada September retail sales +0.2% vs 0.0% expected
- Canada October CPI +2.4% vs +2.2% y/y expected
- ForexLive European morning FX news wrap: Euro dips on German growth worries; oil tumbles
In other markets:
- Spot gold fell $4.40 or -0.36% at $1223.05
- WTI crude oil futures fell $4.24 or -7.76% at $50.39.
- Bitcoin on Coinbase is down $213 and $4214. It was a tough week for the digital currency. Last week Bitcoin was a $5453. That is a 22.7% decline vs last Friday's close
In the US stock market today, the major indices slept walked to lower levels after the Turkey Day holiday yesterday. European shares were mixed:
US yields fell in a quiet holiday like trade:
In the forex market, the JPY is ending the day as the strongest. The EUR is the weakest. The USD was stronger vs all the major pairs with the exception of the USD.
The NY day seemed to have more of a Turkey hangover. The big catalyst for the day came from the weaker PMI data out of Europe in the London morning session, and weekend anxiety about Brexit summit. Both the EURUSD and the GBPUSD are closing near the lows for the day. For the EURUSD, it fell below its 200 hour MA at 1.13685 and stayed below. That will be a key bias technical level for next week.
The GBPUSD had an up and down week, but is closing below its 200 hour MA at 1.2856 and its 100 hour MA at 1.2825.
That'll do it for the holiday shortened week. With the early Thanksgiving this year, there is still one more week in November. So next week is relatively quiet.
