28 Nov: Currencies choppy, WTI lower. Little data due. but plenty of Fed speakers coming up today.

By | November 28, 2017

 

It has been a messy session, with most currency pairs finishing not too far from where they started although not before some early US$ weakness, which saw further strength in the Euro, Yen and Commodity bloc in particular. That has since been partially reversed and further near term dollar strength now looks possible although it may just be that the next couple of sessions remain choppy, but without much direction, as traders brace themselves for the resumption of deliberations on the U.S. tax plan and the confirmation hearing for Federal Reserve Governor Jerome Powell, as the central bank’s next chair (due later today). In other markets, stocks are pretty much unchanged, while the metals are a little higher. WTI has seen some profit taking ahead of this week’s OPEC Meeting, finishing down around 1.25%.

Tuesday looks like being rather quiet, with nothing to come from Asia and then little from Europe although the UK Banking Stress Test results may see some volatility in Cable. Otherwise we have just the German Consumer Confidence to look forward to ahead of the US session, when the Case Shiller House Price Index, Richmond Fed Mfg Index and the House Price Index will be released. Today’s Fed speakers will include Powell, Dudley and Harker, and will follow up on Kaplan’s thoughts, who said yesterday that a rate is hike appropriate in “near future”. The US Treasury Secretary, Mnuchin is also due to speak, late in the day.

CURRENCIES
EURUSD: 1.1899
Res  1.1925  1.1960  1.1980
Sup  1.1895  1.1850  1.1875
USDJPY: 111.09
Res  111.30  111.70  111.95
Sup  110.85  110.60  110.30
GBPUSD: 1.3320
Res  1.3350  1.3380  1.3415
Sup  1.3300  1.3280  1.3270
USDCHF: 0.9817
Res  0.9825  0.9840  0.9860
Sup  0.9800  0.9775  0.9750
AUDUSD: 0.7605
Res  0.7620  0.7645  0.7665
Sup  0.7600  0.7585  0.7565
NZDUSD: 0.6912
Res  0.6920  0.6980  0.6950
Sup  0.6885  0.6850  0.6820
INDICES / COMMODITIES
S&P: 2602
Res  2605  2610  2615
Sup  2595  2590  2585
DJI: 23561
Res  23615  23650  23700
Sup  23500  23430  23370
ASX SPI: 5983
Res  6000  6025  6045
Sup  5970  5950  5920
XAUUSD: 1294
Res  1300  1305  1310
Sup  1290  1285  1280
XAGUSD: 17.05
Res  17.20  17.30  17.40
Sup  17.00  16.90  16.80
WTI: 57.89
Res  58.55  59.05  60.00
Sup  57.50  57.00  56.30

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