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- Forex today saw new highs for the DXY and a slight rise in US yields, while US consumer confidence fell in November to 135.7, in line with consensus expectations.
- US stocks delivered a positive day after spending the day in the red, unscathed despite Washington's latest threats to impose more tariffs on China and tariffs on all auto imports other than Canada and Mexico.
On Tuesday, the FX space was facing obstacles that prevented Fed Powell's speech tonight and the Xi / Trump summit scheduled for the end of the week. The greenback hit new highs at 97.50 while outperforming the Fibo at 61.8% from the mid-November drop to the current lows at 97.06, exceeding 78.6% of Fibo at 97.34. and ending the North American session. For US yields, the 10-year US Treasury yield rose from 3.05% to 3.07%, while the 2-year yield rose from 2.82% to 2.84%.
In the United States, consumer confidence fell in November to 135.7 as expected. However, this did not detract from the fact that we had five consecutive months of gains that propelled sentiment to an 18-year high.
"US stocks have not been too upset by President Trump's latest threat to impose more tariffs on China and by conflicting statements from US and Chinese officials, the S & P500 is rising Brent crude again fell below $ 60 but recovered, "Westpac analysts said.
Currency action
The single currency was under pressure, entering the North American trade of -0.09% in European trade and falling from 1.136 to 1.1280. The euro fell below the Fibo threshold of 1.1364 to 61.8% (1.11216 to 1.1472 November rise). This decision was entirely related to the dollar's recovery and the prospect of a Xi / Trump meeting at the end of the week to discuss trade. There was an initial offer just above the 1.13 figure on the feeling that the Italian government had left the possibility of reducing the deficit for 2019, but nothing has been confirmed. However, contradictory headlines over whether it had already been confirmed that Xi / Trump would call a truce was sending the euro back in free fall as the dollar lifted the supply. The EUR / USD closed the North American session at 1.1284. Cable was under pressure following Trump's negativity over British prime minister's proposal for a Brexit deal, which many hope will be rejected by the House of Commons on December 11, while seeking parliamentary approval British. There had been a correction between 1.2733 and 1.2776, but the offer came back and the pair disappeared. The GBP / USD fell from 1.2816 to 1.2725 and ended trade in NY at 1.2744. The EUR / GBP was posting good deals in both directions, once again caught up by the flow of dollars, geopolitical and European political anxiety. The cross was initially picked up from 0.8849 during the European handover of the Asian session where the cross had risen an offer since its decline to 0.8834 up to a maximum of 0.8887 in late European trading. There, the center was sold and sent collapsing to a minimum of 0.8855 before returning to 0.8872. However, it was a break from there and the crossover ranged from 0.8872 to 0.8852, the lowest of the sessions in New York. EUR / GBP closed at 0.8859. Once again, the movements concerned political anxiety and the flow of dollars. USD / JPY rose from 113.45 to 113.85 and the AUD fell from 0.7250 to 0.7200. The commodities sector was in trouble on Tuesday in anticipation of the Xi / Trump summit this weekend which created a demand for the greenback before Powell's speech to the speech at the New York Economic Club tonight. , where traders will be looking to find out whether he is inclined to the recent less hawkish sentiment surrounding the tightening of the Fed. WTI continued to bleed, putting pressure on the CRB below 179 and finally weighing on the Australian. However, as stocks corrected, the Australian managed to pass an offer at 0.7199 to test the ADM of 21 hours at 0.7228, when the Australian closed. Among commodity sales, metal prices were losing ground. Gold was arranged on Comex at $ 1,213.40 / ounce, down $ 9 or 0.7%, while the spot reached a low of $ 1,211 and closed the New York session at $ 1,214. At the same time, the Dow Jones Industrial Average added 108.49 points, or 0.44%, to 24,748.73 and is on the verge of returning to positive territory for 2018, at the confluence of 23 , 6% fibo and 10-D SMA.
Key notes of the American session:
Wall Street recovers its first losses, closes with moderate gains
Key upcoming events:
Fed Chairman Powell talks about "The Federal Reserve's Framework for Monitoring Financial Stability" at the Economic Club of New York in the United States, and the BoE also releases its report on financial stability. The BoE will also release the results of its annual stress test conducted by leading banks in the UK, followed by Mark Carney, who will make a presentation.
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