https://forextk.org/wp-content/uploads/2022/08/shskhes.jpg 400 495 admin /wp-content/uploads/2021/01/logo1.png admin2022-11-29 11:58:502022-11-29 11:58:50Daily Analysis 29November
- US indices finished yesterday’s session lower with all major benchmark from Wall Street dropping more than 1%. S&P 500 dropped 1.54%, Dow Jones moved 1.45% lower and Nasdaq declined 1.58%. Russell 2000 plunged 2.05%
- Risk moods improved during the Asian session amid rumors that China may relax its coronavirus policies in response to recent protests. State Council will hold a press conference at 7:00 am GMT and some speculate that announcements may be made there
- Chinese indices gained with CHNComp trading over 3% higher at press time. Other indices from Asia-Pacific traded mostly higher but Japanese Nikkei lagged
- DAX futures point to a higher opening of the European cash session today
- Fed Barkin said that if inflation remains high, rates will continue to rise. Fed Brainard said that she expects inflation to remain volatile in the coming years
- Japanese retail sales increased 4.3% YoY in October (exp. 5.0% YoY)
- Japanese unemployment rate remained unchanged at 2.6% in October (exp. 2.5%)
- CPI inflation in German North Rhine Westphalia state decelerated from 11.0 to 10.4% YoY in November
- Cryptocurrencies gain with Bitcoin adding 1.5% and Ethereum trading 2.9% higher. Dogecoin rallies almost 8%
- Pick-up in risk appetite is supporting oil and industrial metal prices. Commodity currencies, like AUD or NZD, are also outperforming
CHNComp is rallying today as traders hope for relaxing of Covid measures to be announced. Index recovered all of yesterday’s losses and is trading at the highest level in almost 2 weeks.
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