- Chinese Premier Li: Inflation remains high in some countries. Risk of global recession increasing
- Westpac: Australian economy likely to stall in 2H 2023
- Reuters Paul: ECB to raise deposit rate by 50 basis points to 2.0% (51 of 60 economists)
- China's CPI YoY for November 1.6% versus 1.6% expected
- PBOC sets yuan midpoint at 6.9588/dollar
- What are the technicals saying as the market heads into the last day of the week
- Japan Industry Minister Nishimura: Must be careful about tax hikes for defense buildup
- Reuters Poll: All 84 economists the Fed raising rates by 50 basis points at next policy meeting
- Boeing and United Airlines to make historic announcement tomorrow
- New Zealand manufacturing sales for Q3 3.1% versus -4.9% last quarter
- New Zealand electronic card retail sales for November +0.3% versus 1.0% last month
- ForexLive Americans FX news wrap: US $despite rebounding yields
- S&P snaps five-day losing streak. NASDAQ four day slide stopped
Markets:
- Spot gold place plus $8.07 or 0.40% at $1796.91
- spot silver up $0.24 or 1.06% at $23.28
- WTI crude oil up $0.50 at $71.95
- Bitcoin $17,215.
The USD continued its fall in the Asian session after moving lower during yesterday's trading. The USD is ending down vs all the major currencies in the Asian-Pacific session with the steepest declines vs the JPY (-0.51%), the NZD (-0.49%) and the AUD (-0.37%). There remains some risk on flows after the US stocks moved higher in trading yesterday and the Asian session saw some moves higher Nikkei (+1.24%) and the HK Hang Seng (+1.64%).
The strongest to the weakest of the major currencies
Looking at some of the major currencies:
- EURUSD: The EURUSD was able to stay above a broken swing area seen this week between 1.0543 to 1.0549 (the low reached 1.0549) and climb to a high of 1.05848. The high from Monday's trade is up at 1.05943. Move above that and the pair is trading at the highest level since June 28th with the next targets at a swing area going back to April to June between 1.06156 and 1.0640.
- USDJPY:The USDJPY initially moved higher to test the falling 200 hour MA at 136.81 before reversing lower and heading to a low of 135.752. The breaking of the 100 hour MA at 136.49 area gave the pair the shove needed to the downside. The low today so far tested the 50% midpoint of the move up from last Friday's low at 135.73.
- AUDUSD: The AUDUSD was able to move above a swing area between 0.6775 and 0.6782. That pushed the price into the topside extreme going back to last week between 0.6775 to 0.68504. Stay above 0.6775 keeps the buyers in control (the price is at 0.6790)
- NZDUSD: The NZDUSD moved up to test at topside channel trend line (see chart below) near 0.6410. Yesterday, the price moved back above the 100 hour MA, and the pair found buyers near the MA in the early Asian session.
NZDUSD tests topside trend line on the hourly chart
- GBPUSD: The GBPUSD based near the 50% midpoint of the move down from the Monday high and pushed higher. Breaking above the 100 hour MA yesterday put the buyers more in control. Getting and staying above the 50% retracement at 1.22245 helped to confirm the 100 hour MA break. The high reached to 1.2276 so far. That is near the high from Tuesday at 1.2268.
