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Daily Market Outlook, November 29, 2023 Munnelly’s Market Commentary… Asia – Stocks in the Asia-Pacific region displayed a mixed performance in the wake of volatile trading on Wall Street. The US dollar weakened, and treasury bonds gained ground following dovish comments from the Federal Reserve. Investors also considered the Reserve Bank of New Zealand’s decision […]
The Japanese yen continues rising against the US dollar. The current USDJPY exchange rate stands at 147.08. Two factors influence the yen’s exchange rate: Japan’s inflation and the behaviour of the US dollar. The price situation is somewhat balanced: while the CPI has risen, it remains unstable. The USD circumstances are rather productive for the […]
The Australian dollar, paired with the US dollar, continues to rise. The current AUDUSD exchange rate stands at 0.6650. Inflation is slowing in Australia, supporting the scenario of the Reserve Bank of Australia refraining from further interest rate hikes. Market expectations for a rate hike have decreased from 70% to 50%. Today’s statistics show a […]
NZD Spikes Higher The New Zealand Dollar was among the big winners yesterday as USD reversed lower. NZDUSD traded to its highest level since August earlier today before selling kicked in to fuel a correction lower. Overnight, the RBNZ was seen holding rates unchanged at 5.5%, in line with expectations. However, the bank warned that […]
DXY Plunges The US Dollar was seen plunging to its lowest level since early August yesterday as traders digested the latest Fed commentary. Fed’s Waller commented yesterday that he was encouraged by the slowing of the US economy and believed that Fed monetary policy was in the right place to bring inflation down to target. […]
EURUSD, “Euro vs US Dollar” EURUSD is testing the resistance level. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.0965 is expected, followed by a rise to 1.1055. An additional signal confirming the rise will be a rebound from the lower boundary of the […]