Pre US Open, Daily Technical Analysis Thursday, November 30, 2017

EUR/USD Intraday: turning down.
Pivot: 1.1870
Most Likely Scenario: short positions below 1.1870 with targets at 1.1795 & 1.1760 in extension.
Alternative scenario: above 1.1870 look for further upside with 1.1895 & 1.1920 as targets.
Comment: …

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(30 NOVEMBER 2017)DAILY MARKET BRIEF 2:Optimistic on Select EM Currencies

While the market focus is clearly on Crypto currencies conditions are steady improving for EM FX. Constructive global backdrop including improved risk appetite and strong growth will send investors deeper into select EM currencies. Current EM weakness …

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(30 NOVEMBER 2017)DAILY MARKET BRIEF 1:Yellen gives positive outlook on the US economy

Yesterday, Janet Yellen spoke in front of Congressional leaders amid the release of the US GDP data, which as expected, climbed to 3-year high. The end of Yellen’s mandate is near as the current Fed Chair is going to be replaced next year by Jerome Pow…

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(08 NOVEMBER 2017)DAILY MARKET BRIEF 2:China in focus on a slow news day

Perhaps the timing might be questionable but China trade surplus with the US dropped to $26.2 in Oct from $28.08. Interestingly US president trump will be traveling to Beijing today to meet Xi Jinping. Overall while exports dragged increasing 6.9% y/y from 8.1% (against 7.1% exp), Imports surged 17.2% leaving trade surplus of $38.2 bn for the month. The rising import is good news for regional commodity exporters and indication that domestic demand have improve due to rebalancing. However, for Oct read Iron ore imports buckled as China made efforts to halt pollution through crackdown on steel producers. China’s weaker export growth suggests slowing global growth.

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(08 NOVEMBER 2017)DAILY MARKET BRIEF 1:NZD: RBNZ to keep OCR unchanged

Since the beginning of the week, G10 currencies were range bound. The lack of major news, both on the political and monetary policy sides, has caused a collapsed of volatility levels. The CVIX (Currency Volatility Index) eased to 6.87%, the lowest level since September 2014. The 3m implied volatility in EUR/USD fell to 4.14%, while the one on USD/JPY eased to 7.92%. The FX market will likely remain flat-lined this week as investors await news about Trump’s Tax plan and developments about the Brexit negotiations.

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