Market Update – December 5th – Dollar Drops, Gold Prices Around $1,800

  • USD index go back 104 space for the first time since June global stocks up fromn hope of China’s reopening ignores the strength of wage increases and the recovery of USD Index gains Down 1.4% last week and 5% in November. (worst month since 2010)
  • yuan has risen to the strongest since September. China’s COVID-19 turning point accelerated when it announced the easing of coronavirus controls over the weekend. as China tries to ease its stance on COVID-19 restrictions as a result of unprecedented protests against the policy.
  • Wall Street banks cut bonuses by 30%.
  • share stimulate Hanging Seng Rally over 4%, CSI 300 almost 2%. Nikkei and the ASX has lower performance. but also manages fractional returns NEAR40 a UK100 US futures were little changed and slightly lower as the market weighed the impact of China’s economic shift and central bank moves elsewhere The US 10-year rate rose 5.4 bp to 3.54% and the 10-year Bund rate increased to up 2.9 bp at 1.87%
  • Europe: Start of Russian oil price limit of $60 per barrel from the G7 Russia removed as expected!
  • US Oil – Ok lower than that $80.30 As Russia rejects EU restrictions Rising initially at $81.90 When China reopens, global growth prospects and commodity demand will eventually brighten. OPEC+ Leave the oil production quota unchanged.
  • Japanese yen Hold below 200-DMA below $135.
  • euro – reach the top 1.0583 a pound sterling for day 3 above 200-DMA is 1.2345.
  • gold – hovers around $1800. eg.
  • BTC – Up on $17313. llariedda eg

today Pay attention to the US ISM service survey, European retail sales data today. and central bank meetings in Canada and Australia this week.

Largest FX Mover @ (07:30 GMT) NZDJPY (+1.25%) Rising at 86.70 extending above all 5 and 9- arranged EMAs, RSI at 62 and MACD histogram and signal line rising above 0 H1 ATR 0.199, ATR 0.889 Daily.

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Andrea Pichidi

market analyst

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