Daily Market News by Xtreamforex.com

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  1. #441
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    Default GBP/JPY: Brexit, full-fledged bear dominating below 153.00 on COVID-19 chatter

    Daily Market News by Xtreamforex.com
    GBP/JPY licks the cut at the 152.70 area after hitting a week-long high before hitting a two-week low of 152.47 ahead of the London opening on Friday. The Cross saw a double attack as it served food to bears amid fears of coronavirus and Brexit-related concerns. 4,444 French fishermen prepare to shut down Channel Tunnels and major ports on Friday to celebrate their disappointment over the UK’s fishing license regulations.

    The British government has already urged politicians not to use illegal means, but this is unlikely to stop France’s outrage.
    On the positive side, Maroš Šefchovic’s visit to London, an EU exit officer, is a British diplomat if both parties agree on a border protocol with Northern Ireland (NI), which has recently shown positive progress. It is worth noting that the previous day’s refusal of Bank of England (BOE) Governor Andrew Bailey’s inflation concerns reduces the likelihood of a rate hike and also affect GBP / JPY prices.
    Or, Japan’s recent announcement and Moody’s rating outlook are adding to more robust inflation data to further drive the yen’s appreciation.

    “If a new coronavirus variant is identified, we will revisit border control as needed,” said Hirokazu Matsuno, Chief Cabinet Secretary of Japan, according to Reuters. As for data, Japan’s consumer price index (CPI) rose from 0.1% year-on-year to 0.5% in November, and fresh food CPI fell from 0.4% in market forecasts to 0.3%. 0, 1% faster. In addition, CPI ex Food and Energy were 0.3% of expectations on an annual basis.

    Elsewhere, concerns about the Fed’s rate hikes at the wrong time are squeezing market sentiment and supporting the US dollar’s demand for safe haven. However, the Covid19 issue has spread outside Europe’s first horror zone due to concerns about a variant of the official name B.1.1.529, which is related to South Africa and is unaffected by the vaccine. For this reason, the World Health Organization (WHO) and UKHSA held a special session on Friday.

    Sentiment on 10-year Treasuries yields on US Treasuries fell 8 basis points (bps) to 1.565%, extending Wednesday’s recession from its monthly highs and S & P 500 futures falling 1.0% at the latest.

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  2. #442
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    Default GBP/USD remains weak below 1.3350 amid omicron concerns and Brexit concerns

    GBP/USD is trading moderately below 1.3350, consolidating from its 11-month low of 1.3278, with risk sentiment improving slightly. Despite the risk reset, the risk remains downward biased against the majors as they continue to face the latest Omicron covid and ongoing Brexit issues.

    Risk sentiment took a hit in early Asia, and concerns over the latest covid variant shook the market, propelling the overall rebound of the US dollar. South Africa’s recent surge in COVID-19 cases, which appears to have been triggered by a new strain, is urging countries around the world to impose new restrictions. However, Dror Mezorah, head of the coronavirus department at Hadassah University Hospital in Ein Karem, said the clinical status of people infected with Omicron is encouraging.

    Despite risk recovery, sentiment around the pound can remain compromised by ongoing Brexit concerns. Vice-President of the European Commission, Margaritis Schinas, said Britain needed to resolve the post-Brexit immigration issue on Saturday.

    Meanwhile, French President Emmanuel Macron attacked British Prime Minister Boris Johnson in a letter tweeted Friday and accused him of being “not serious.” This is in light of the ongoing tensions surrounding the Franco-British fishery. We will continue to lead the update of Omicron Covid variants and their impact on risk sentiment on Monday’s UK and US economic calendars. Investors are trying to reassess the Bank of England’s (BOE) rate hike expectations in light of recent Covid claims. This could be a further downside to the UK currency.

    Read Full News : Daily & Weekly Analysis on XtreamForex

  3. #443
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    Default Options market USD/CAD turns most bearish in last two weeks & expecting volatility i

    in ro ham eslah kon:
    WTI crude fell to $70.40 in an early two-day rally on Tuesday. While the 2-day symmetrical triangle limits Black Gold’s recent move, adding 50 HMA to the RSI’s decline and the upper barrier is encouraging for sellers. However, a clear downward break of the triangular support level near $69.20 at the time of issue was necessary for oil sellers to regain control.

    After that, a Friday low of $68.30 will attract the market’s attention before lowering the WTI bearish to a September low of around $67 and a July low of around $65. On the other hand, the rise in commodity prices will be a nutritious nut around $72.00 including the triangular resistance and 50 HMA. Even if the price crosses $72, Friday’s high of $74 could provide an additional filter before oil moves up to $77.60. This implies an upside on the 25th of November.

    The options market scenario supports USDCAD sellers ahead of today’s testimony of Canada’s GDP and Federal Reserve Chairman Jerome Powell. The reason for the bearish trend may be related to the cautious optimism of the market on Monday. However, recent doubts about the ability of the vaccine to tame a South African Covid variant known as Omicron support US $ / Canadian dollar buyers. With that in mind, the USD / CAD recorded a 0.30% daytime rise of about 1.2790 at the time of the press.

    Read Full News : Daily & Weekly Analysis on XtreamForex

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