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Global markets traded with a mixed tone as rising expectations for additional Fed rate cuts continued to pressure the US Dollar, pushing the DXY back toward the 98.00 zone. The British Pound weakened sharply after UK GDP unexpectedly contracted for the second straight month, heightening concerns over the country’s economic momentum. Meanwhile, the Japanese Yen held firm as hawkish BoJ expectations offset broader risk-on sentiment. In commodities, WTI crude oil opened the European session on a bullish footing, supported by improving demand signals and stabilizing supply dynamics. Overall, currency markets were dominated by diverging central bank expectations, while commodities found support from shifting macro conditions.
GBP/USD remains under pressure after UK GDP unexpectedly contracted for the second consecutive month, reinforcing fears of a deteriorating economic outlook. The pair struggles to recover as investors reassess growth risks and brace for potential policy implications from the Bank of England.
Geopolitical Risks: Limited direct geopolitical influence, with market focus centered primarily on domestic UK data.
US Economic Data: Softer US data expectations offer mild USD relief but fail to offset the deeper GBP-driven weakness.
FOMC Outcome: Fed rate-cut expectations cap USD upside, providing partial cushion to GBP/USD declines.
Trade Policy: No major trade developments impacting the pair today.
Monetary Policy: BoE now faces rising pressure to respond to weakening growth, fueling further GBP downside.
Trend: Short-term bias remains bearish as momentum favors sellers.
Resistance: 1.2600
Support: 1.2480
Forecast: GBP/USD may extend losses toward the support zone unless UK data stabilizes.
Market Sentiment: Broadly bearish as investors react to worsening UK economic signals.
Catalysts: Upcoming UK inflation and employment reports for further directional clarity.
USD/JPY trades lower as Yen bulls regain control following renewed expectations that the Bank of Japan may continue shifting toward policy normalization. Divergence between a potentially tightening BoJ and a rate-cutting Fed supports JPY strength.
Geopolitical Risks: Risk-on sentiment limits deeper USD/JPY declines but does not offset BoJ-driven gains.
US Economic Data: Upcoming US Jobless Claims may add volatility but likely maintain USD softness.
Trade Policy: No significant trade-related movements today.
Trend: Turned bearish as JPY strength builds.
Forecast: USD/JPY likely remains on the defensive toward the lower bound.
Market Sentiment: Mildly risk-on but overshadowed by BoJ hawkishness.
Catalysts: BoJ policy comments, US labor market data.
WTI crude opened the European session higher as improving global demand signals and reduced supply concerns boosted sentiment. Oil markets show signs of stabilization after recent volatility driven by geopolitical headlines.
Geopolitical Risks: Continued Ukraine-related developments keep volatility elevated.
US Economic Data: Expectations of softer USD may support crude demand.
FOMC Outcome: Fed cuts improve risk appetite and energy outlook.
Trend: Short-term bullish recovery.
Resistance: $60.00
Support: $58.20
Market Sentiment: Improving as traders rotate back into commodities.
Catalysts: EIA inventory data, geopolitical developments.
EUR/USD trades near two-month highs as broad USD weakness continues to dominate markets. Traders remain confident that the Fed may deliver additional cuts in 2026, supporting EUR strength.
Geopolitical Risks: Limited influence; focus remains on monetary policy divergence.
US Economic Data: Anticipation of softer data pressures the USD further.
FOMC Outcome: Fed rate-cut expectations remain the primary bullish driver for EUR/USD.
Trend: Bullish with strong upward momentum.
Resistance: 1.1700
Support: 1.1620
Forecast: EUR/USD could challenge the upper resistance if USD selling persists.
Market Sentiment: Pro-EUR due to policy divergence.
Catalysts: ECB commentary, US Jobless Claims, Fed speakers.
The US Dollar Index trades weakly above 98.00 as markets increasingly price more 2026 Fed cuts than currently projected by policymakers. This has added sustained downward pressure on the USD across major pairs.
Geopolitical Risks: Limited support for safe-haven flows today.
FOMC Outcome: Dovish Fed outlook remains the primary bearish catalyst.
Trend: Bearish, with continued pressure toward recent lows.
Resistance: 98.90
Support: 97.80
Forecast: DXY may slide further if sentiment remains dovish.
Market Sentiment: Bearish as rate-cut expectations anchor USD weakness.
Catalysts: US Jobless Claims, Fed speak, inflation expectations.
Today’s session highlighted widening policy divergence across major economies, with the US Dollar under broad pressure as markets price deeper 2026 Fed cuts, while the Pound struggles under weak domestic growth. The Yen remains resilient amid a more assertive BoJ stance, adding a defensive tone to the FX landscape. Oil prices gained traction, helping balance risk appetite in commodities. As traders look ahead to upcoming US data releases and fresh central bank commentary, volatility may rise, particularly across USD pairs and growth-sensitive assets. For now, the market tone remains tilted toward USD softness, selective FX strength, and modest recovery in energy markets.
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Global markets advanced as the Federal Reserve’s expected rate cut continued to lift sentiment across metals and broader commodities. Gold extended its climb above $4,200 while Silver held firm near record levels despite a modest pullback from all-time highs. Meanwhile, the US Dollar eased toward 98.50, reflecting shifting interest rate expectations and softening momentum ahead of Jobless Claims data. Oil weakened below $59.00 amid Ukraine peace deal discussions, and the Australian Dollar remained pressured following mixed employment figures. Overall, the post-Fed environment favors metals and risk assets as traders reposition ahead of incoming US data.
Gold trades above $4,200 as the market reacts to the Federal Reserve’s expected rate cut. Investor optimism and USD weakness have supported further gains, while risk-on sentiment post-Fed keeps demand for safe-haven assets robust.
Geopolitical Risks: Moderate; tensions remain globally but markets focus on Fed policy.
US Economic Data: Soft US data supports gold as the Fed signals lower rates.
FOMC Outcome: Expected Fed cut reinforces bullish sentiment.
Trade Policy: Tariff and trade concerns have minimal short-term impact.
Monetary Policy: Dovish Fed outlook underpins gold strength.
Trend: Bullish above $4,180.
Resistance: $4,220 and $4,250.
Support: $4,180 and $4,150.
Forecast: Gold likely to test $4,250 if momentum persists.
Market Sentiment: Positive; traders focus on Fed-driven gains.
Catalysts: Fed commentary, US labor data, global risk sentiment.
Silver corrects slightly to near $62 after reaching all-time highs, though overall momentum remains firm. Market participants continue to react to the Fed rate cut, which has weakened the Dollar and supported precious metals.
Geopolitical Risks: Minimal direct impact; indirectly influences safe-haven flows.
US Economic Data: Dollar weakness supports silver gains.
Trade Policy: Limited near-term effect on industrial metals demand.
Trend: Bullish but consolidating.
Forecast: Silver likely to stabilize near $62 before testing $63.
Market Sentiment: Firm; buyers remain confident post-Fed.
Catalysts: Fed policy updates, USD moves, gold price correlation.
WTI trades below $59.00 as markets weigh Ukraine peace-deal discussions. While the Fed cut boosts risk assets, oil faces pressure from geopolitical developments and improving supply expectations.
Geopolitical Risks: Ukraine peace talks and Middle East supply developments influence sentiment.
US Economic Data: Strong US data could support demand, but risk sentiment limits upside.
FOMC Outcome: Dovish Fed indirectly favors oil via risk-on sentiment.
Trend: Neutral to mildly bearish.
Resistance: $59.50 and $60.00.
Support: $58.50 and $58.00.
Market Sentiment: Cautious; traders await clearer supply signals.
Catalysts: OPEC announcements, geopolitical developments, inventory data.
AUD/USD remains depressed above 0.6600 after mixed Australian employment data. The post-Fed Dollar weakness provides some support, but the Aussie is constrained by domestic economic uncertainty and cautious risk sentiment.
Geopolitical Risks: Low direct impact; market focus is domestic jobs data.
US Economic Data: Soft USD post-Fed provides slight AUD lift.
FOMC Outcome: Fed dovish stance reduces USD strength, indirectly supporting AUD.
Trend: Neutral to bearish.
Resistance: 0.6630 and 0.6660.
Support: 0.6600 and 0.6575.
Forecast: AUD/USD likely to trade sideways with minor gains possible if risk sentiment improves.
Market Sentiment: Cautious; traders weigh mixed data.
Catalysts: Australian jobs data, Fed commentary, risk sentiment shifts.
The US Dollar Index trades near 98.50 post-Fed rate cut, reflecting a softer USD. Market participants digest the Fed’s dovish move while awaiting upcoming US labor data for further guidance.
Geopolitical Risks: Minimal; focus remains on Fed and domestic data.
FOMC Outcome: Fed cut drives current USD softening.
Trend: Neutral to slightly bearish.
Resistance: 98.80 and 99.20.
Support: 98.20 and 97.90.
Forecast: USD may continue to soften, with consolidation expected until next data release.
Market Sentiment: Cautious; traders digest post-Fed adjustments.
Catalysts: Upcoming US jobs reports, Fed commentary, global risk sentiment.
Metals remain the focal point of today’s session, with Gold and Silver maintaining strong bullish structures supported by the Fed’s dovish shift. The US Dollar’s extended pullback continues to influence commodity flows and cross-currency dynamics, while oil struggles to find direction amid geopolitical negotiations. With upcoming US labor indicators and global risk sentiment in play, markets may see heightened volatility into the next trading cycle. For now, the broader tone stays constructive for metals, mixed for commodities, and cautious for USD-linked pairs as investors digest the full impact of the Fed’s policy move.
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Global markets traded cautiously as investors positioned ahead of the highly anticipated Federal Reserve rate decision. The US Dollar held firm above the 99.00 mark, supported by solid US labor data that reinforced expectations of a measured Fed stance. WTI crude extended losses below $58.50 following the resumption of Iraq’s oilfield operations, easing supply concerns and weighing on energy prices. In currency markets, USD/CAD drifted higher toward 1.3850 as traders awaited back-to-back policy decisions from the Fed and the Bank of Canada. Meanwhile, EUR/USD remained pinned below 1.1650, and the Japanese Yen staged a mild recovery from a two-week low as divergent Fed–BoJ expectations continued to guide flows.
WTI trades below $58.50, pressured by renewed US Dollar strength and improving supply conditions. The resumption of Iraq’s oilfield operations eased supply concerns, while stronger US labor data supported USD gains, weighing further on crude prices.
Geopolitical Risks: Reduced Middle East supply risk after Iraq’s oilfield recovery has softened upward pressure on crude.
US Economic Data: Strong US job data lifted the Dollar, making oil more expensive for non-USD buyers.
FOMC Outcome: Markets await clarity on the Fed’s rate path, which could influence demand expectations.
Trade Policy: US tariff-related uncertainty remains a mild headwind for global oil demand outlook.
Monetary Policy: A firmer Fed stance could cap oil gains by strengthening USD and dampening demand expectations.
Trend: Bearish bias as prices remain below the $59.00 zone.
Resistance: $59.00 and $59.80.
Support: $58.00 followed by $57.30.
Forecast: WTI likely stays pressured unless demand expectations improve post-Fed.
Market Sentiment: Cautious with downside tilt due to supply recovery and USD strength.
Catalysts: Fed decision, EIA inventory data, and further updates from Iraq.
The US Dollar Index trades steady above 99.00, reflecting cautious pre-Fed positioning. Markets await the rate decision for clarity on forward guidance, keeping DXY confined within a narrow intraday range.
Geopolitical Risks: Limited impact, with focus shifting to central bank expectations.
US Economic Data: Solid labor data supports the USD’s resilience.
Trade Policy: US tariff threats introduce mild upside risk for the Dollar.
Trend: Consolidation with slight bullish bias above 99.00.
Forecast: Likely stable until Fed, with potential upside if tone leans hawkish.
Market Sentiment: Neutral but supportive as traders wait for Fed clarity.
Catalysts: FOMC statement, Powell press conference, upcoming US data.
USD/CAD ticked up toward 1.3850 as both Fed and BoC policy decisions approach. Oil weakness added upward pressure on the pair, while traders remain cautious ahead of simultaneous major central bank risk.
Geopolitical Risks: Stable conditions keep CAD’s risk sensitivity moderate.
US Economic Data: Strong US data favors USD over CAD.
FOMC Outcome: A hawkish tilt would support USD/CAD upside.
Trend: Mild bullish tone as long as above 1.3810.
Resistance: 1.3870 and 1.3900.
Support: 1.3810 and 1.3775.
Market Sentiment: Cautious ahead of dual central bank events.
Catalysts: Fed decision, BoC announcement, oil market movements.
EUR/USD remains steady below 1.1650 as traders stay sidelined before the Fed announcement. The pair lacks momentum as USD strength and subdued Eurozone data weigh on upside attempts.
Geopolitical Risks: Eurozone geopolitical quiet keeps focus on macro drivers.
US Economic Data: Strong US data favors USD dominance.
FOMC Outcome: Offers major directional risk—hawkish Fed could push EUR/USD lower.
Trend: Neutral to bearish below 1.1650.
Resistance: 1.1670 and 1.1700.
Support: 1.1620 and 1.1585.
Forecast: Consolidation expected until Fed triggers directional breakout.
Market Sentiment: Muted with pre-Fed caution.
Catalysts: Fed decision, Eurozone sentiment data.
The Japanese Yen recovered from a two-week low against the USD as investors weighed diverging expectations between the BoJ and the Fed. Despite USD strength, some safe-haven demand supported the Yen ahead of key central bank decisions.
Geopolitical Risks: Mild risk-off tone supports JPY slightly.
FOMC Outcome: A hawkish Fed could push USD/JPY higher again.
Trend: Mild corrective bias in favor of JPY.
Resistance: 148.70 and 149.20.
Support: 147.90 and 147.40.
Forecast: Likely range-bound until Fed and BoJ outlooks become clearer.
Market Sentiment: Cautious, slightly JPY-supportive.
Catalysts: Fed decision, BoJ policy remarks, US yields.
Market sentiment remains cautious but steady as traders brace for potential volatility following key central bank announcements. The US Dollar’s firm footing reflects expectations of a balanced but data-sensitive Fed outlook, while commodity markets continue to respond to improving supply conditions. Major currency pairs are likely to see sharper directional moves once the Fed and BoC deliver their policy signals. With interest rate expectations and global growth concerns back in the spotlight, the next 24 hours will be pivotal for setting market tone into the remainder of the week.
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Global markets opened mixed as Australia’s central bank held interest rates steady at 3.6%, pressuring the Australian Dollar across major pairs. The RBA’s neutral tone weighed on AUD/USD, AUD/NZD, and AUD/JPY, with traders scaling back expectations for any near-term tightening. Meanwhile, oil prices slipped, with WTI retreating toward $58.50 following the recovery of Iraq’s oilfields, easing supply concerns. In North America, USD/CAD maintained a slight downside bias, though losses were limited by renewed US tariff concerns under Trump’s comments. Overall, the session is dominated by RBA-driven currency moves and shifting energy market sentiment.
WTI is trading near USD 58.50/barrel as supply-side optimism from Iraq’s oilfield recovery weighs on prices, while oversupply concerns linger globally.
Geopolitical Risks: Recovery in Iraqi oil output increases supply, pressuring WTI.
US Economic Data: Soft US data and expectations of lower US interest rates tend to weaken the dollar, which could support oil — but current oversupply worries dominate.
FOMC Outcome: Anticipated rate cuts by Federal Reserve (Fed) could dampen USD and support oil demand, though mixed signals keep sentiment murky.
Trade Policy: Global trade/tension risks — such as US-China trade uncertainties or sanctions — affect demand expectations for crude and could support oil if supply risks emerge.
Monetary Policy: Lower global interest rates tend to support commodities like oil, but persistent supply concerns still weigh heavily on WTI.
Trend: Mildly bearish/neutral — WTI trades just below $60 after a short-term rally, but limited upside remains.
Resistance: Around $60.80–$61.50 (near recent highs before the pullback).
Support: Near $57.50–$58.00 (recent bottoms and oversupply pressure zones).
Forecast: Unless a major supply disruption emerges or global demand outlook improves, WTI could remain in a $57.50–$60.50 range in the near term.
Market Sentiment: Cautiously bearish — traders are wary about oversupply despite some supportive factors (rate cuts, potential supply shocks).
Catalysts: Upcoming US crude inventory reports (API / EIA), developments in Iraq and OPEC+ production plans, and global demand signals (e.g. China demand, US economic data).
AUD/USD is trading around 0.6625–0.6640, drifting slightly lower after the Reserve Bank of Australia (RBA) kept its OCR at 3.60%. The Aussie remains supported, however, by diverging expectations between a steady/hawkish RBA and a potentially dovish Fed.
Geopolitical Risks: Global risk sentiment affects commodity-linked currencies like AUD; safe-haven demand or risk-off moves could pressure AUD.
US Economic Data: Weak US data and expected Fed rate cuts tend to push USD lower, helping AUD/USD.
Trade Policy: Global growth and trade demand — especially in China (a key trading partner) — influence AUD via commodity demand.
Trend: Moderately bullish — price remains above the 20-day EMA, and consolidation after recent gains suggests potential for continuation
Forecast: If RBA maintains hawkish-tilt and the Fed signals cuts, AUD/USD could test 0.6650–0.6680; weakness below 0.6600 may test support toward ~0.6530.
Market Sentiment: Neutral-to-bullish — traders remain open to further AUD upside but are cautious ahead of RBA’s detailed communications.
Catalysts: RBA press conference comments, upcoming US data (employment, CPI), and Fed decision; also global risk sentiment.
USD/CAD is trading in the mid-1.3800s, showing a negative bias as the Canadian dollar gains modest strength. However, losses remain limited amid US tariff-related uncertainty and global risk factors.
Geopolitical Risks: Tariff threats and trade tensions — especially related to US policy — can influence USD/CAD volatility.
US Economic Data: Strong US data could boost USD, pushing USD/CAD higher; weak data supports CAD.
FOMC Outcome: A dovish Fed would weigh on USD, benefiting CAD and pushing USD/CAD lower.
Trend: Slightly bearish to neutral — limited downside as support levels hover, but no strong bullish reversal yet.
Resistance: Around 1.3850–1.3880 (recent intraday highs).
Support: Near 1.3750–1.3700, where previous declines found buying interest.
Market Sentiment: Cautiously bearish — traders are leaning toward modest CAD strength but remain alert for USD or oil-driven reversals.
Catalysts: US tariff developments, US economic data releases, oil price movements, and any signals from US or Canadian central bank policy.
AUD/NZD has slid toward ~1.1440 after the RBA kept its OCR unchanged at 3.6%, dampening AUD strength vs other major currencies like NZD.
Geopolitical Risks: Global risk sentiment affects both AUD and NZD; any risk-off may push AUD/NZD lower if AUD underperforms.
US Economic Data: Indirect effect via USD strength/weakness on commodity currencies.
FOMC Outcome: A weaker USD post-Fed could buoy both AUD and NZD, but relative strength depends on local central banks.
Trend: Short-term bearish as AUD loses momentum vs NZD after the RBA decision.
Resistance: Around 1.1550–1.1600 (recent range highs).
Support: Near 1.1400–1.1420, current trading area; further support might come around 1.1350 if downside continues.
Forecast: Unless AUD gets a hawkish surprise or NZD weakens, expect AUD/NZD to test 1.1400–1.1350 in the near term.
Market Sentiment: Slightly bearish toward AUD vs NZD — investors are pricing in AUD weakness after the RBA hold.
Catalysts: RBA post-meeting tone, NZ domestic data or central bank signals, global risk sentiment shifts, commodity-market news.
AUD/JPY has weakened below 103.50 after the RBA’s decision to hold rates at 3.6%, softening AUD strength relative to the yen.
Geopolitical Risks: Risk sentiment and safe-haven flows impact AUD/JPY — risk-off tends to benefit JPY, hurting AUD/JPY.
FOMC Outcome: A weaker USD post-rate cut could lift JPY and compress AUD/JPY further; dovish Fed tends to support JPY strength.
Trend: Bearish-to-neutral short term as AUD loses ground vs JPY after RBA statement.
Resistance: Near 104.50–105.00 (recent swing highs).
Support: Around 102.50–103.00 (psychological and technical support zones).
Forecast: Given current backdrop, AUD/JPY may drift toward 102.50–103.00, unless risk sentiment improves or AUD gets fresh support.
Market Sentiment: Cautiously bearish — investors reacting to RBA hold and positioning for potential JPY safe-haven flows.
Catalysts: RBA and BoJ communications, global risk events (geopolitics, market stress), commodity and trade-data flows.
Currency markets remain focused on the RBA’s policy stance, which continues to exert broad pressure on the Aussie across the board. The Canadian Dollar sees modest support, while oil prices retreat on improving supply conditions. With central bank expectations and geopolitical risks still in play, volatility may pick up as traders await key US, Australian, and Canadian data releases. The broader tone remains cautious as markets digest the RBA’s decision and recalibrate expectations heading into midweek trading.
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Global markets kicked off the week on a firmer tone as expectations of Federal Reserve rate cuts fueled a broad improvement in risk sentiment. Gold pushed above $4,200, the yen strengthened on solid wage data, and commodity-linked currencies like the AUD and NZD found support from upcoming and positive Chinese trade figures. Meanwhile, USD/CAD remains subdued as traders await key Fed and BoC policy decisions. Overall, the session is driven by shifting interest rate expectations and stronger macro data out of Asia.
Gold trades around $4,200–$4,230 in early Asian trade as markets price in a high probability of a Fed rate cut at the December meeting; softer US data and continued central-bank buying are supporting bullion.
Geopolitical Risks: Any escalation would raise safe-haven demand for gold.
US Economic Data: Cooling labour data has lifted Fed cut odds, supporting gold.
FOMC Outcome: A dovish Fed (rate cut) is the main bullish catalyst for XAU
Trade Policy: Tariff/trade developments can affect USD flows and gold indirectly.
Monetary Policy: Continued central bank purchases (notably PBoC) add structural demand.
Trend: Short- to medium-term bullish as XAU sits above key EMAs.
Resistance: Near $4,265–$4,300 (recent range highs).
Support: $4,164–$4,200 (20-day EMA and recent session lows).
Forecast: If Fed signals a cut, expect continuation toward the $4,265–$4,300 area; USD strength/strong US data could cap gains.
Market Sentiment: Bullish-to-cautious — price is elevated on dovish Fed bets but remains sensitive to data.
Catalysts: FOMC decision & communications, US labour prints, PBoC/central-bank reserve updates.
AUD/USD is trading just below 0.6650 (around ~0.6640) — the highest since September — as markets await China trade data and the RBA’s near-term guidance; risk sentiment is supporting the Aussie.
Geopolitical Risks: China-related headlines remain the primary external risk.
US Economic Data: USD moves driven by US macro prints will influence AUD/USD.
Trade Policy: China trade figures and demand for commodities weigh heavily on AUD.
Trend: Short-term bullish — pushing toward multi-week highs.
Forecast: Positive China trade data or weaker USD could propel AUD toward 0.6680; a disappointing China print could trigger a retracement.
Market Sentiment: Risk-on tilt supporting AUD, but fragile ahead of China releases.
Catalysts:China trade numbers, RBA commentary, global risk tone.
USD/CAD is holding around 1.3800 after Friday’s losses as traders await Fed and Bank of Canada policy signals and keep an eye on oil prices for CAD support.
Geopolitical Risks: Energy market shocks or sanctions can impact CAD via oil.
US Economic Data: Strong US prints could lift USD/CAD; weak prints favor CAD.
FOMC Outcome: Fed policy divergence vs. BoC will be decisive.
Trend: Neutral-to-bearish for USD/CAD after recent retracement.
Resistance: 1.3850–1.3880 (recent highs).
Support: 1.3750–1.3700 (Friday lows / intraday demand).
Market Sentiment: Cautious — positioning ahead of central bank decisions and oil prints.
Catalysts: FOMC, BoC releases, weekly oil inventory reports, and Canadian data.
The yen is on the front foot after stronger wage growth data pushed up rate-hike expectations for the BoJ — USD/JPY is under pressure as markets price in a more hawkish BoJ path.
Geopolitical Risks: Safe-haven flows can intermittently support the yen.
US Economic Data: Strong US data can keep USD/JPY elevated; weak data helps the yen.
FOMC Outcome: Divergence between Fed and BoJ expectations will shape USD/JPY.
Trend: Strengthening yen trend in the short term as markets reprice BoJ tightening.
Resistance: (for USD/JPY on the upside): ~151.00–152.50 (recent highs — upper bounds to watch).
Support: (for USD/JPY on the downside): ~147.00–148.00 (recent intraday support levels).
Forecast: Further positive wage prints or hawkish BoJ guidance could push USD/JPY lower (stronger yen); any abrupt shift in global risk appetite could temporarily reverse moves.
Market Sentiment: Yen-positive on domestic wage data and BoJ repricing.
Catalysts: Japan wage and inflation prints, BoJ minutes/speeches, global risk flows.
NZD/USD is gathering strength — trading near ~0.575–0.580 — after China’s trade surplus widened to a five-month high in November, supporting commodity FX and the kiwi. Markets are also influenced by elevated Fed cut odds.
US Economic Data: China-related developments are highly relevant for NZD.
FOMC Outcome: Dovish Fed bets continue to cap USD strength, aiding NZD.
Trend: Short-term bullish with NZD pushing into multi-week gains.
Resistance:0.5850–0.5900 (recent monthly highs).
Support: 0.5720–0.5680 (recent intraday pullbacks).
Forecast: Positive China data and sustained Fed dovishness could carry NZD toward 0.5850; a firmer USD or weaker China figures would risk a pullback.
Market Sentiment: Risk-on tilt supporting commodity currencies; NZD benefits from China’s stronger trade prints.
Catalysts: China trade releases, Fed decision, NZ domestic data, and RBNZ communications.
Market sentiment remains cautiously optimistic as traders position ahead of major central bank updates and key economic releases. Gold retains strong upside momentum, the yen stays supported on higher wage-growth-driven BoJ expectations, and commodity currencies take cues from China’s trade outlook. With rate-cut bets rising and volatility expected later in the week, global markets remain in data-dependent mode. Stay tuned for further movements as new reports and central bank signals shape the next leg of price action.
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Markets are holding steady as traders await the release of the US PCE inflation data, a crucial indicator for Federal Reserve policy. Key assets like gold, silver, oil, and major currency pairs show cautious positioning ahead of this influential report.
Gold price (XAU/USD) trades flat near $4,205 during early Asian hours. Rising US Treasury yields and strong US jobs data limit upside ahead of the delayed US PCE inflation report.
Geopolitical Risks: Uncertainty in Ukraine peace talks boosts safe-haven flows to gold.
US Economic Data: Lower-than-expected jobless claims at 191K support USD, capping gold gains; PCE data awaited for Fed clues.
FOMC Outcome: Expected 25 bps rate cut next week reduces gold’s opportunity cost.
Trade Policy: No direct mentions, but broader tensions could favor safe-havens.
Monetary Policy: Dovish Fed expectations underpin non-yielding gold.
Trend: Flat with upside capped by yields.
Resistance: Near $4,205 current levels.
Support: Not specified, but recent consolidation around $4,200.
Forecast: Sideways until PCE; hotter data may pressure lower.
Market Sentiment: Cautious, sidelined traders await PCE.
Catalysts: PCE inflation release later today.
Silver price (XAG/USD) rises 0.5% to near $57.50 after correcting from $58.90 all-time high. Gains stem from firm dovish Fed cut expectations.
Geopolitical Risks: Limited direct impact noted.
US Economic Data: Weak ADP jobs data at -32K fuels rate cut bets.
Trade Policy: Not highlighted.
Trend: Firm uptrend above rising 20-day EMA at $53.91.
Forecast: Upward bias if above EMA; consolidation possible.
Market Sentiment: Bullish momentum building.
Catalysts:Fed meeting next week.
WTI crude trades around $59.45, holding below $60 amid rising US stockpiles signaling excess supply. Fed rate cut bets provide downside cushion.
Geopolitical Risks: Ukraine attacks on Russian Druzhba pipeline raise supply concerns.
US Economic Data: EIA stockpiles up 574K barrels vs. expected draw.
FOMC Outcome: 89% chance of 25 bps cut next week.
Trend: Downward pressure from supply.
Resistance: $60.00.
Support: Around $59.45 current levels.
Market Sentiment: Cautiously supported by rate bets.
Catalysts: Geopolitical supply disruptions.
AUD/USD holds above 0.6600 near two-month high. Steady positioning persists ahead of US PCE data.
Geopolitical Risks: Minimal direct influence.
US Economic Data: PCE report to signal Fed path.
FOMC Outcome: Rate cut odds weigh on USD.
Trend: Bullish near highs.
Resistance: Two-month peak levels.
Support: 0.6600.
Forecast: Steady unless PCE surprises.
Market Sentiment: Optimistic above key level.
Catalysts: US PCE inflation data.
GBP/USD trades flat near 1.3330 amid PCE wait. Constructive above 1.3300 despite UK slowdown concerns.
US Economic Data: PCE for rate path hints.
FOMC Outcome: 89% odds of 25 bps cut to 3.50%-3.75%.
Trend: Firmer above 100-EMA at 1.3300.
Resistance:Upper Bollinger at 1.3348.
Support: 100-EMA 1.3300, then 1.3189.
Forecast: Bullish if holds EMA; volatility rising.
Market Sentiment: Positive momentum, RSI 61.
Catalysts: PCE data today.
The upcoming PCE inflation figures will likely shape market sentiment and guide future price movements. Investors should monitor developments closely to adjust strategies in response to evolving economic signals.
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The US Dollar traded mixed today as markets digested divergent central bank signals, with the Japanese Yen firming on expectations that the Bank of Japan may move further away from ultra-easy policy while the Federal Reserve remains tilted toward easing next year. Risk-sensitive currencies like the Australian Dollar outperformed, with AUD/USD holding above the 0.6600 handle and touching its highest levels since late October, supported by a wider trade surplus and reduced odds of near-term RBA cuts.
USD/CAD is holding a mild positive bias around the 1.3960–1.3970 region after bouncing from near one‑month lows in the mid‑1.39s, snapping a recent two‑day losing streak. The pair’s recovery is modest, with buyers cautious as softer US yields and stable oil prices keep a lid on broad USD upside.
Geopolitical Risks: Global risk sentiment is relatively calm, allowing the pro‑cyclical Canadian Dollar to draw some support from steady crude prices, which tempers USD/CAD gains.
US Economic Data: Recent signs of cooling US activity reinforce expectations for additional Fed easing, preventing a sustained USD surge against the CAD.
FOMC Outcome: Markets still price further Fed cuts into 2026, limiting the room for a durable USD uptrend versus higher‑beta currencies like CAD.
Trade Policy: There are no fresh trade headlines directly impacting CAD, leaving the pair mainly driven by rate expectations and oil dynamics.
Monetary Policy: Divergence between a more dovish Fed and a relatively cautious Bank of Canada keeps upside capped even as risk‑off periods briefly favor the USD.
Trend: Short‑term tone is mildly bullish off the mid‑1.39 base but remains within a broader corrective phase below key longer‑term highs.
Resistance: Initial resistance is seen around 1.4000–1.4050, with stronger supply expected closer to the 1.4400 technical ceiling highlighted by analysts.
Support: First support aligns near 1.3920–1.3940, with a break exposing last week’s low in the mid‑1.39s.
Forecast: As long as the pair holds above mid‑1.39, a choppy grind toward 1.40 is possible, but any rallies are likely to face selling pressure amid dovish Fed expectations.
Market Sentiment: Positioning is cautious, with traders reluctant to chase upside given stretched CAD weakness earlier in the year and fading USD momentum.
Catalysts: Upcoming US data, Fed communication, and any shifts in oil prices will be key for near‑term direction in USD/CAD.
The Japanese Yen is building on recent gains, with USD/JPY trading below prior peaks as investors lean into expectations that the Bank of Japan will continue normalizing policy while the Fed moves closer to additional cuts. Safe‑haven demand amid periods of softer equity sentiment is also helping the Yen hold firmer against the Dollar.
Geopolitical Risks: Episodes of risk‑off tone in global equities support the Yen’s safe‑haven status, adding downside pressure on USD/JPY.
US Economic Data: Mixed but cooling US indicators have reinforced the dovish Fed narrative, weighing on the Dollar versus lower‑yielders like JPY.
Trade Policy: No major fresh trade headlines are in focus, leaving policy expectations and risk sentiment as primary Yen drivers.
Trend: The short‑term trend in USD/JPY has turned lower as the pair pulls back from recent highs and momentum indicators cool.
Forecast: As long as BoJ hike expectations remain firm and Fed cut bets stay elevated, further downside in USD/JPY or at least a heavy, sell‑on‑rallies tone looks likely.
Market Sentiment: Sentiment is skewed in favor of Yen strength, with traders attentive to both verbal and potential direct intervention if volatility spikes
Catalysts:Upcoming US data releases, the next BoJ communications, and any change in global risk appetite will be crucial for the next leg in USD/JPY.
NZD/USD is trading softer near the 0.5750 area as a modest US Dollar rebound pressures the pair after recent gains driven by dovish Fed expectations. The Kiwi remains off its lows, with lingering expectations of additional Fed easing helping to limit the downside for now.
Geopolitical Risks: Broader risk sentiment remains a key factor for this high‑beta pair, with any shift to risk‑off typically weighing on NZD versus USD.
US Economic Data: Cooling US data keep rate‑cut odds elevated, but short‑term corrections in the Dollar can still trigger pullbacks in NZD/USD.
FOMC Outcome: The CME FedWatch data show high probabilities for another Fed cut, which should ultimately cap deeper Kiwi losses against the Greenback.
Trend: The near‑term trend is consolidative after a recovery from earlier lows, with the pair oscillating around the mid‑0.57 region.
Resistance: Initial resistance appears around 0.5800–0.5830, where recent rallies have run into supply.
Support: Support is seen near 0.5700–0.5720, with a break risking a retest of prior cycle lows.
Market Sentiment: Sentiment toward NZD is cautiously constructive but sensitive to China data and swings in global risk appetite.
Catalysts: Chinese PMIs, upcoming US releases, and any fresh RBNZ commentary will be key triggers for volatility in NZD/USD.
The People’s Bank of China set the daily USD/CNY central parity at 7.0733, slightly stronger than the previous fix of 7.0754, signaling a subtle preference for a firmer yuan. This comes as the offshore yuan trades near recent highs, supported by stronger fixings and improving sentiment toward China’s currency.
Geopolitical Risks: While US‑China tensions remain a background risk, there are no fresh escalations directly impacting today’s fix.
US Economic Data: Softer US data and Fed cut expectations have eased upward pressure on USD/CNY, allowing the PBOC to guide the pair modestly lower.
FOMC Outcome: Anticipated Fed easing reduces the risk of sharp Dollar appreciation versus the yuan, giving Beijing more room to support currency stability.
Trend: The broader trend in USD/CNY has shifted toward gradual yuan strengthening over the past month as the pair edges lower from prior highs.
Resistance: Resistance sits near recent peaks above 7.10, where prior advances were capped.
Support: Support is emerging just below 7.06, with further downside watched near the 7.00 psychological area.
Forecast: If the PBOC maintains slightly stronger fixes and Fed cut expectations persist, USD/CNY could remain under mild downward pressure or trade sideways with a soft USD bias.
Market Sentiment: Sentiment toward the yuan has improved as stronger fixings and expectations of policy stability bolster confidence in the currency.
Catalysts: Upcoming Chinese activity data, PBOC liquidity operations, and any shifts in US‑China policy rhetoric will guide the next moves in USD/CNY.
AUD/USD is extending its two‑week uptrend, trading firmly above 0.6600 and marking its highest levels since late October during the Asian session. The pair held its gains after Australian data showed a wider monthly trade surplus, reinforcing the Aussie’s fundamental underpinnings.
Geopolitical Risks: A relatively stable risk backdrop and a bullish tone in equities support demand for the risk‑sensitive Australian Dollar.
US Economic Data: Softer US data and elevated Fed rate‑cut expectations keep the US Dollar near a one‑month low, aiding AUD/USD strength.
FOMC Outcome: Markets are pricing a high probability of a Fed cut at the upcoming meeting, which weighs on the Greenback and favors higher‑beta currencies like AUD.
Trade Policy: Australia’s external sector remains a key support, with the latest trade figures signaling resilient export performance despite global headwinds.
Trend: The trend is clearly bullish in the near term, with price action confirming a breakout above prior resistance and reinforcing the upside bias.
Resistance: Immediate resistance is near 0.6629 (October high), with a further hurdle around the 0.6700–0.6710 year‑to‑date peak zone.
Support: Initial support lies around 0.6560–0.6580, with stronger demand expected just below 0.6500 if a deeper pullback occurs.
Forecast: As long as AUD/USD holds above 0.6600 and Fed cut pricing remains elevated, further upside toward 0.6660–0.6700 looks plausible, though overbought conditions could trigger interim consolidations.
Market Sentiment: Market mood around AUD is positive, with traders viewing dips as buying opportunities amid supportive data and policy divergence.
Catalysts: Upcoming Australian data, any fresh RBA commentary, and key US releases that affect Fed expectations will be the main drivers for the next leg in AUD/USD
Overall, today’s session highlighted a shifting FX landscape where policy divergence and trade dynamics are in focus: the Yen is drawing support from BoJ normalization bets, the Canadian Dollar and Kiwi are tracking a choppy but capped Dollar rebound, while the PBOC’s slightly stronger yuan fix underscores a desire for stability. With the Dollar’s upside looking limited against some majors and pro‑risk currencies like AUD gaining on solid data, traders will be watching upcoming US releases and central bank commentary for confirmation of the next leg in this mixed-Dollar environment.
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The US Dollar slipped ahead of key economic data releases, with traders positioning cautiously as markets await fresh signals on inflation, labor strength, and the Fed’s policy path. Risk sentiment was mixed across majors as commodity currencies reacted to shifting macro expectations and China-linked momentum.
The US Dollar Index slipped toward 99.20 as traders positioned cautiously ahead of major US data releases. The move reflects softer momentum in the dollar as the market waits for clarity on inflation and labor trends.
Geopolitical Risks: Limited influence for now, with attention shifting toward macro signals.
US Economic Data: Upcoming NFP, ISM, and PCE readings are the primary catalysts driving the latest USD pullback.
FOMC Outcome: Markets continue to price in December rate cuts, weighing on the dollar.
Trade Policy: No fresh trade headlines, but lingering global uncertainties remain mildly USD-supportive.
Monetary Policy: A more dovish Fed outlook contrasts with steadier policy tones abroad, contributing to DXY softness.
Trend: Short-term trend is turning bearish below 100.00.
Resistance: 100.00 / 100.40
Support: 99.20 / 98.80
Forecast: ias remains lower unless US data surprises to the upside.
Market Sentiment: Tilted bearish as rate-cut expectations increase.
Catalysts: US PCE, ISM, and jobs data will determine whether DXY sees a deeper pullback.
AUD/USD held firm despite weak Q3 GDP, supported by the RBA’s hawkish stance and steady demand for the Aussie near a multi-week high. Markets are reassessing the likelihood of further RBA tightening.
Geopolitical Risks: Low impact, with domestic data and China indicators taking priority.
US Economic Data: Softer USD supports AUD resilience ahead of US releases.
Trade Policy: Stable trade environment helps commodity currencies maintain traction.
Trend: Bullish bias with higher lows forming.
Forecast: Upside likely if RBA tone stays firm and USD remains pressured.
Market Sentiment: Positive as traders view GDP weakness as temporary.
Catalysts:Australia CPI, China PMI, and RBA commentary.
China’s Services PMI eased to 52.1, slightly below expectations, suggesting slower momentum in the services sector. The reading keeps Chinese growth concerns in focus.
Geopolitical Risks: Mild geopolitical tension continues to influence China-linked sentiment.
US Economic Data: Stronger USD data could amplify pressure on CNY.
FOMC Outcome: Dovish Fed limits USD/CNY upside but doesn’t fully offset China’s soft data.
Trend: Neutral with a slight upward tilt.
Resistance: 7.16 / 7.18
Support: 7.12 / 7.10
Market Sentiment: Cautious due to mixed China growth signals.
Catalysts: China inflation, liquidity measures, and PBOC daily fixing.
NZD/USD strengthened toward 0.5750 as upbeat China PMI figures and Fed rate-cut expectations improved risk appetite. The kiwi benefitted from correlation to China’s economic signals.
Geopolitical Risks: Stable risk environment supports NZD flows.
US Economic Data: Softer USD ahead of major data releases boosts NZD.
FOMC Outcome: Markets expect the Fed to cut sooner, lifting the kiwi.
Trend: Turning bullish with improving momentum.
Resistance: 0.5780 / 0.5820
Support: 0.5700 / 0.5660
Forecast: Potential for a breakout higher if risk sentiment stays firm.
Market Sentiment: Improving, supported by China data.
Catalysts: US data, dairy auctions, China macro readings.
AUD/JPY remained below 102.50 after weak Australian GDP reduced growth sentiment, while the pair continues to track broader Asian risk flows.
Geopolitical Risks: Regional tensions remain mildly supportive of JPY safety flows.
US Economic Data: Little direct impact, though USD softness indirectly influences cross-flows.
FOMC Outcome: Dovish Fed helps risk sentiment but not enough to lift AUD/JPY.
Trade Policy: Japan-Australia trade signals remain stable with limited impact.
Trend: Bearish below 102.50.
Resistance:102.80 / 103.20
Support: 101.80 / 101.40
Forecast: Further downside possible unless Australian data stabilizes.
Market Sentiment: Mixed, leaning bearish for AUD/JPY.
Catalysts: Australia CPI, BoJ commentary, Asian equity performance.
Overall, market direction now hinges on the upcoming US data slate, which is likely to set the tone for both USD performance and broader risk sentiment. Traders should stay alert to volatility as rate-cut expectations and cross-asset flows continue to shift.
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WTI crude slid below $59 as bearish demand expectations weighed on global markets, pressuring energy-linked currencies and dampening risk sentiment. The pullback in oil also contributed to weakness in the CAD, while mixed flows across major currencies reflected shifting central bank expectations. Meanwhile, steady policy signals from China and profit-taking in precious metals kept broader market movements contained ahead of key U.S. data.
WTI trades below $59.50, extending its decline as bearish demand expectations continue to dominate market sentiment. Traders remain cautious following OPEC+’s decision to halt supply hikes, which has failed to offset concerns over slowing global consumption.
Geopolitical Risks: Limited geopolitical disruption keeps supply flows stable, adding pressure to prices.
US Economic Data: Softening U.S. manufacturing and weak freight indicators reinforce demand worries.
FOMC Outcome: Growing expectations for future Fed cuts weigh on USD but fail to lift oil due to demand-side fears.
Trade Policy: No new tariff developments, leaving sentiment driven mainly by economic fundamentals.
Monetary Policy: Looser policy expectations globally point to slower economic momentum, dampening energy demand.
Trend: Near-term trend remains bearish after failing to recover the $60 handle.
Resistance: Immediate resistance sits at $59.80, followed by $60.50.
Support: Key support emerges at $58.70, then $58.10.
Forecast: WTI is likely to remain under pressure unless demand signals improve.
Market Sentiment: Traders remain cautious, with sentiment leaning bearish.
Catalysts: U.S. inventory data and updated demand forecasts from global agencies.
USD/CAD trades near 1.4000, maintaining recovery momentum as lower oil prices continue to weigh on the Canadian Dollar. Despite broad dovish Fed bets, the pair remains supported by commodity-driven weakness in the CAD.
Geopolitical Risks: Stable supply expectations reduce CAD support typically seen during geopolitical tensions.
US Economic Data: Mixed U.S. indicators create two-way movement but still offer slight USD support.
Trade Policy: No new U.S.–Canada trade shifts impacting the pair.
Trend: Bias remains mildly bullish above the 1.3980 support region.
Forecast: USD/CAD may grind higher if oil remains under pressure.
Market Sentiment: Tilted in favor of the USD due to commodity weakness.
Catalysts:Oil price movements and upcoming U.S. jobs data.
USD/JPY moves higher as the Yen drifts away from its two-week high amid a positive risk tone. Improved sentiment in global equities reduces demand for safe-haven currencies, pressuring the JPY.
Geopolitical Risks: Limited global tensions keep safe-haven demand subdued.
US Economic Data: Stable U.S. data supports USD resilience.
FOMC Outcome: Fed cut expectations cap USD upside but still allow moderate gains versus JPY.
Trend: Bias shifts bullish as USD/JPY rebounds from recent lows.
Resistance: 152.40 and 153.00.
Support: 151.60 and 151.00.
Market Sentiment: Risk-on sentiment weighs against JPY.
Catalysts: BoJ commentary and U.S. treasury yields.
Silver has slipped below $57.00 as profit-taking emerges after its record-breaking rally. The metal remains broadly bullish but vulnerable to short-term corrections.
Geopolitical Risks: Stable geopolitical conditions reduce safe-haven inflows.
US Economic Data: Modest U.S. improvements cool demand for defensive assets.
FOMC Outcome: Dovish Fed expectations still support long-term metals strength.
Trend: Short-term correction within a broader uptrend.
Resistance: $57.60 and $58.25.
Support: $56.30 and $55.80.
Forecast: A pullback may stabilize before buyers attempt to retest highs.
Market Sentiment: Cautious but still broadly bullish.
Catalysts: US yields, risk sentiment, and momentum signals.
The PBOC set the USD/CNY reference rate at 7.0794, slightly higher than the previous fix, signaling steady but controlled CNY movement. The adjustment reflects Beijing’s aim to maintain stability amid global volatility.
Geopolitical Risks: Limited tensions keep Beijing focused on economic stability rather than currency defense.
US Economic Data: Mild U.S. strength supports USD levels.
FOMC Outcome: Fed’s dovish stance limits strong USD gains but CNY remains guided by policy.
Trade Policy: Stable U.S.–China trade relations reduce FX volatility.
Trend: Controlled upward bias within a managed band.
Resistance:7.0860 and 7.0930.
Support: 7.0710 and 7.0650.
Forecast: The pair is likely to stay range-bound under PBOC guidance.
Market Sentiment: Neutral to moderately USD-favored.
Catalysts: Chinese PMI data and PBOC liquidity operations.
Oil’s decline remained the focal point of today’s session, reinforcing concerns over global demand and shaping movement across commodities and FX pairs. With traders awaiting fresh economic indicators and potential central bank cues, short-term volatility is likely to persist across WTI, metals, and major currencies as markets position for the next catalyst.
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Gold and silver surged to fresh highs today, driven by mounting expectations of Federal Reserve rate cuts and a pullback in US yields. Gold pushed above $4,200 while silver extended its record-breaking run beyond $57.50, underscoring strong momentum across precious metals.
Commodity markets were active as well, with oil jumping toward $59.30 after OPEC+ moved to halt supply increases, while major currencies reacted to weaker US Dollar flows and softening global manufacturing signals.
Gold extends its rally above $4,200 as investors continue pricing in deeper Fed rate cuts into early 2025. The latest upside move reflects easing US Treasury yields and sustained demand for haven assets despite improving risk sentiment.
Geopolitical Risks: Continued geopolitical uncertainty in the Middle East and Europe underpins safe-haven buying.
US Economic Data: Softer US releases have reinforced expectations of slowing economic momentum.
FOMC Outcome: Increasing market confidence that the Fed will begin cutting rates sooner is fueling upward pressure.
Trade Policy: Stable global trade conditions support demand for metals as alternative investment assets.
Monetary Policy: Expectations of a more accommodative Fed remain the primary bullish catalyst.
Trend: Strong bullish trend remains intact above major moving averages.
Resistance: Immediate resistance stands at $4,250.
Support: Initial support lies near $4,150.
Forecast: Momentum suggests potential continuation toward the mid-$4,200s if yields stay subdued.
Market Sentiment: Bullish sentiment dominates across the metals complex.
Catalysts: US inflation data and any fresh Fed commentary will be key drivers.
Silver pushes to a record high above $57.50 as bullish metals sentiment accelerates. Despite strong gains, overbought RSI conditions suggest limited room for immediate upside before a healthy correction.
Geopolitical Risks: Global tensions keep investor interest in safe-haven assets elevated.
US Economic Data: Mixed US indicators continue to weigh on the Dollar, benefiting silver.
Trade Policy: Stable trade flows support industrial metals demand.
Trend: Momentum remains strongly bullish despite overextended readings.
Forecast: Consolidation is likely, though deeper gains remain possible if Fed expectations strengthen.
Market Sentiment: Extremely bullish but monitoring for exhaustion signs.
Catalysts:US data and potential corrections in overbought conditions.
WTI jumps to near $59.30 after OPEC+ agreed to halt upcoming supply hikes, providing a bullish lift to the market. The decision offsets concerns about weakening global demand and helps stabilize prices.
Geopolitical Risks: Middle East tensions remain a key factor supporting crude.
US Economic Data: Soft data raises concerns for demand but is outweighed by supply optimism.
FOMC Outcome: Potential rate cuts may indirectly support oil via improved economic outlook.
Trend: Short-term momentum has turned positive following the OPEC+ announcement.
Resistance: Resistance sits at $60.00.
Support: Support aligns near $58.20.
Market Sentiment: Improving after the supply decision.
Catalysts: OPEC+ statements, US crude inventory data.
EUR/USD trades above 1.1600 and tests the 200-day SMA as the US Dollar weakens broadly. The pair is benefiting from improved Eurozone sentiment and reduced demand for Dollar safe-haven flows.
Geopolitical Risks: Calm geopolitical backdrop helps AUD maintain risk-linked support.
US Economic Data: Softer US metrics weigh on USD strength.
FOMC Outcome: Growing Fed cut expectations pressure the Dollar.
Trend: Short-term recovery remains intact.
Resistance: 1.1625 near the 200-day SMA.
Support: Immediate support lies at 1.1570.
Forecast: A break above the SMA may pave the way for further gains toward 1.1670.
Market Sentiment: Mildly bullish as USD softens.
Catalysts: Eurozone data and US Dollar positioning.
China’s RatingDog Manufacturing PMI slipped to 49.9 in November, missing expectations of 50.5 and signaling renewed contraction. The data weighs on Chinese economic sentiment and maintains pressure on the Yuan.
Geopolitical Risks: Global trade uncertainty increases downside risks to China’s manufacturing recovery.
US Economic Data: Weak US data supports Dollar softness but does little to lift Chinese domestic sentiment.
FOMC Outcome: Potential Fed cuts may relieve pressure on CNY in the medium term.
Trade Policy: China continues to navigate slower export demand.
Trend: Bias remains slightly upward as CNY faces pressure.
Resistance:7.0900.
Support: 7.0750.
Forecast: CNY may remain under pressure unless manufacturing momentum improves.
Market Sentiment: Cautious as manufacturing falls back into contraction.
Catalysts: PBOC statements and fiscal policy measures.
Precious metals dominated today’s market narrative, with gold and silver setting fresh highs as Fed rate cut bets intensified and the US Dollar weakened. Oil prices also firmed on OPEC+ supply decisions, while major currencies reacted to shifting rate expectations and mixed global data. Markets now look ahead to upcoming US releases and central bank commentary to confirm whether the current momentum across commodities and FX can continue.
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