*China Manufacturing PMI 50.1 In November - NBS

China Manufacturing PMI 50.1 In November - NBS

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186289/

Japan Industrial Production Gains 1.1% In October

Industrial production in Japan was up a seasonally adjusted 1.1 percent on month in October, the Ministry of Economy, Trade and Industry said on Tuesday.

That was shy of expectations for an increase of 1.8 percent following the 5.4 percent decline in September.

On a yearly basis, industrial production retreated 4.7 percent after sinking 2.3 percent in the previous month.

Upon the release of the data, the METI adjusted its monthly assessment of industrial production to that it is pausing.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186288/

Japan Jobless Rate Falls To 2.7% In October

The unemployment rate in Japan came in at a seasonally adjusted 2.7 percent in October, the Ministry of Internal Affairs and Communications said on Tuesday.

That was below expectations for 2.8 percent, which would have been unchanged from the September reading.

The job-to-applicant ratio was 1.15, missing forecasts for 1.17 and down from 1.16 in the previous month.

The participation rate was 62.0 percent, down from 62.3 percent a month earlier.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186287/

Australia Building Permits Tumble 12.9% In October

The total number of building permits issued in Australia was down a seasonally adjusted 12.9 percent on month in October, the Australian Bureau of Statistics said on Tuesday - standing at 15,911.

That missed forecasts for a drop of 2.0 percent following the 4.3 percent decline in September.

Approvals for private sector houses rose 4.3 percent on month to 10,799, while permits for dwellings excluding houses plummeted 37.5 percent to 4,821.

On a yearly basis, total permits sank 8.1 percent, permits for houses fell 3.7 percent and permits for dwellings excluding houses dropped 16.5 percent.

The overall value of buildings approved was A$10.112 billion.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186286/

Australia Has A$23.886 Billion Current Account In Q3

Australia posted a current account surplus of A$23.886 billion in the third quarter of 2021, the Australian Bureau of Statistics said on Tuesday.

That missed forecasts for a surplus of A$27.8 billion but was up from A$20.5 billion in the three months prior.

The balance on goods and services showed a surplus of A$38.911 billion, while net primary income had a shortfall of A$14.327 billion and the capital and financial account had a deficit of A$21.835 billion.

Australia's net international investment position was A$860.149 billion.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186285/

Australia Private Sector Credit Rises 0.5% In October

Private sector credit in Australia was up 0.5 percent on month in October, the Reserve Bank of Australia said on Tuesday - slowing from 0.6 percent in September.

On a yearly basis, credit was up 5.7 percent, accelerating from 5.3 percent in the previous month.

Housing credit was up 0.6 percent on month and 6.7 percent on year in October, while personal credit was flat on month and fell 4.6 percent on year and business credit added 0.5 percent on month and 5.3 percent on year.

Broad money rose 0.7 percent on month and 8.1 percent on year.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186284/

*South Korea Industrial Production -3.0% On Month, +4.5% On Year In October

South Korea Industrial Production -3.0% On Month, +4.5% On Year In October

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186283/

*South Korea Retail Sales +0.2% On Month, +7.4% On Year In October

South Korea Retail Sales +0.2% On Month, +7.4% On Year In October

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186282/

*Japan Unemployment Rate 2.7% In October; Jobs-to-Applicant Ration 1.15

Japan Unemployment Rate 2.7% In October; Jobs-to-Applicant Ration 1.15

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186281/

*Japan Industrial Production +1.1% On Month, -4.7% On Year In October

Japan Industrial Production +1.1% On Month, -4.7% On Year In October

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186280/

*New Zealand Business Confidence Index -16.4 In November - ANZ

New Zealand Business Confidence Index -16.4 In November - ANZ

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186279/

*Australia Private Sector Credit +0.5% On Month, +5.7% On Year In October

Australia Private Sector Credit +0.5% On Month, +5.7% On Year In October

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186278/

*Australia Current Account Surplus A$23.9 Billion In Q3

Australia Current Account Surplus A$23.9 Billion In Q3

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186277/

*Australia Building Permits -12.9% On Month In October

Australia Building Permits -12.9% On Month In October

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186276/

Gold, Iron Ore Forecast: XAU Drops With Inflation Bets, Iron Jumps on China News

Gold prices failed to recover with the broader market, as a stronger US Dollar and falling inflation expectations hurt the yellow metal. Meanwhile, iron ore jumped higher as China readies blast fur... Via DailyFX - Market News https://ift.tt/32vveVH

Japan Data On Tap For Tuesday

Japan is scheduled to release a raft of data on Tuesday, headlining a busy day for Asia-Pacific economic activity. On tap are October figures for industrial production, unemployment, housing starts and construction orders.

Industrial production is expected to rise 1.8 percent on month and fall 1.0 percent on year after slipping 5.4 percent on month and 2.3 percent on year in September. The jobless rate is called steady at 2.8 percent, while the jobs-to-applicant ratio is expected to rise to 1.17 from 1.16 a month earlier.

Housing starts are expected to climb 5.2 percent on year, up from 4.3 percent in the previous month. Construction orders are tipped to jump 24.5 percent, slowing from 27.3 percent in September.

Australia will provide October figures for building permits and private sector credit, along with Q3 figures for current account.

Permits are expected to slip 2.0 percent on month after sinking 4.3 percent in September. Credit was up 5.3 percent on month and 0.6 percent on year in September. The current account surplus is pegged at A$27.8 billion, up from A$20.5 billion in the three months prior.

South Korea will release October numbers for industrial production and retail sales. Industrial production is expected to rise 3.0 percent on year after slipping 1.8 percent in September. Retail sales were up 2.5 percent on month and 3.7 percent on year in September.

China will see November results for manufacturing, non-manufacturing and composite PMIs from the National Bureau of Statistics; in October, their scores were 49.2, 52.4 and 50.8, respectively.

Hong Kong will release October figures for retail sales; in September, sales were up 4.7 percent on year.

Thailand will provide October numbers for industrial production, current account, retail sales and its coincident index. Industrial production is expected to rise 1.6 percent on year after slipping 1.28 percent in September. The current account deficit in September was $1.3 billion, while retail sales dropped 8.1 percent on year and the score on the coincident was 126.5.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186275/

AUD/USD Bounce May Extend Higher After China PMIs Impress

AUD/USD may extend its Monday bounce after China's November PMI data showed a strong improvement from the prior month. Higher iron ore prices may also boost the Australian Dollar. Via DailyFX - Market News https://ift.tt/32vveVH

Dollar Stays Firm Against Major Counterparts

The U.S. Dollar firmed against most of its major counterparts on Monday as markets weighed the likely impact of the newly detected Omicron variant of the coronavirus on the global economy.

The World Health Organization, which held an emergency meeting on Friday, declared the new virus variant a matter of concern, noting its transmissibility.

While the WHO has said it could take weeks to understand the variant's severity, the South African doctor who treated early cases of the new variant told the BBC countries could be "panicking unnecessarily" and the symptoms she had seen were "extremely mild."

President Joe Biden also told reporters there is no need for the U.S. to reimpose lockdowns as a result of the new variant.

The U.S. has imposed travel restrictions on South Africa and several other African nations, although Biden said he doesn't expect additional restrictions.

In U.S. economic news, the National Association of Realtors released a report showing pending home sales rebounded by much more than expected in the month of October.

NAR said its pending home sales index spiked by 7.5% to 125.2 in October after tumbling by 2.4% to a revised 116.5 in September. Economists had expected pending home sales to increase by 1% compared to the 2.3% slump originally reported for the previous month.

The dollar index, which pared some gains after rising to 96.34 in the Asian session, strengthened to 96.45 later on in the day, and is currently trading at 96.27, up nearly 0.2% from the previous close.

Against the Euro, the dollar is trading at $1.1281, strengthening from $1.1318.

The Pound Sterling is fetching $1.3303 a unit, nearly 0.3% less than Friday's close of $1.3339.

The dollar is trading at 113.67 yen, gaining 0.27% from Friday's 113.37 yen.

Against the Aussie, the dollar is trading at 0.7131, marginally down from 0.7123.

The dollar is trading at CHF0.9236, little changed from Friday's close of CHF0.9232 a unit.

The Loonie is stronger against the dollar at C$1.2754, firming from C$1.2792.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186274/

Crude Oil Futures Settle Higher

Crude oil futures settled sharply higher on Monday, bouncing back and regaining some ground after Friday's terrible setback, as traders looked ahead to some meetings of the Organization of the Petroleum Exporting Countries.

Probably, traders felt global markets over-reacted to the news about the Omicron coronavirus variant on Friday.

Oil prices plunged on Friday, weighed down by news about detection of a new variant - Omicron - in South Africa last week, and subsequent news about several countries, including the U.S., imposing fresh travel restrictions.

The World Health Organization, which held an emergency meeting on Friday, declared the new virus variant a matter of concern, noting its transmissibility.

While the WHO has said it could take weeks to understand the variant's severity, a South African doctor who has treated cases said symptoms so far seemed to be mild.

West Texas Intermediate Crude oil futures for January ended higher by $1.80 or about 2.6% at $69.95 a barrel, after climbing to a high of $72.93 a barrel.

Brent crude futures were up $1.00 or 1.4% at $72.59 a barrel a little while ago.

The OPEC, aiming to gain time to asses the impact of Omicron, has postponed technical meetings this week. Russia seems to believe there is no need for urgent action on the market.

Traders were also focusing on talks on Iran nuclear accord, which resumed today.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186273/

Treasuries Give Back Ground Amid Easing Concerns About Covid Variant

After moving sharply higher over the course of the previous session, treasuries gave back some ground during trading on Monday.

Bond prices climbed off their worst levels after an initial move to the downside but remained firmly negative. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 4.8 basis points to 1.530 percent.

The pullback by treasuries came after bond prices spiked last Friday in reaction to reports of the detection of a new coronavirus variant.

The new Covid variant, assigned the Greek letter omicron, has been labeled a "variant of concern" by the World Health Organization.

The WHO described the global risk posed by the omicron variant as "very high" due to a high number of mutations that "may be associated with immune escape potential and higher transmissibility."

However, the South African doctor who treated early cases of the new variant told the BBC countries could be "panicking unnecessarily" and the symptoms she had seen were "extremely mild."

President Joe Biden also told reporters there is no need for the U.S. to reimpose lockdowns as a result of the new variant.

The U.S. has imposed travel restrictions on South Africa and several other African nations, although Biden said he doesn't expect addition restrictions.

In U.S. economic news, the National Association of Realtors released a report showing pending home sales rebounded by much more than expected in the month of October.

NAR said its pending home sales index spiked by 7.5 percent to 125.2 in October after tumbling by 2.4 percent to a revised 116.5 in September.

Economists had expected pending home sales to increase by 1.0 percent compared to the 2.3 percent slump originally reported for the previous month.

A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.

News regarding the covid variant may continue to attract attention on Tuesday, while traders are also likely to keep an eye on a report on consumer confidence and Congressional testimony by Federal Reserve Chair Jerome Powell.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186272/

Gold Futures Pare Early Gains, Settle Lower

Gold futures pared early gains and settled lower on Monday as the dollar firmed against other major currencies.

Gold prices climbed higher earlier in the day as investors picked up the safe-haven commodity amid concerns about growth following the detection of a new variant of the coronavirus, and possible stricter restrictions on movements.

New cases of the variant were found in the Netherlands, Denmark, and Australia. Several countries, including the U.S. and Japan have imposed travel restrictions.

While the World Health Organization has said it could take weeks to understand the variant's severity, a South African doctor who has treated cases said symptoms so far seemed to be mild.

The dollar index, which eased to 96.14 after climbing to 96.35 in the Asian session, gained in strength subsequently and rose to 96.45 by noon. The index was at 96.31 a little while ago.

Gold futures for February ended lower by $2.90 or about 0.2% at $1,785.20 an ounce, well off the day's high of $1,801.50.

Silver futures for March closed down $0.283 at $22.582 an ounce, while Copper futures for March settled at $4.3410 per pound, up $0.0500 from the previous close.

In U.S. economic news, the National Association of Realtors released a report showing pending home sales rebounded by much more than expected in the month of October.

NAR said its pending home sales index spiked by 7.5% to 125.2 in October after tumbling by 2.4% to a revised 116.5 in September. Economists had expected pending home sales to increase by 1% compared to the 2.3% slump originally reported for the previous month.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186271/

Euro Rise Likely Temporary, USD to Reassert Dominance But Watch for Powell Risk

Euro shorts squeezed on Covid fears, however, rise is likely temporary Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Trading Strategies and Tips

Crude oil is the most valuable market on Earth, and a key commodity for today's economy. But how can traders build strategy to trade crude oil? Via DailyFX - Market News https://ift.tt/32vveVH

*Finland Nov Consumer Confidence 1.2 Vs. 2.7 In October

Finland Nov Consumer Confidence 1.2 Vs. 2.7 In October

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186216/

Malaysia Exports Rises More Than Expected

Malaysia's exports rose more than expected in October, data from the Department of Statistics showed on Monday.

Exports grew 25.5 percent year-on-year to MYR 114.4 billion in October. Economists had expected a rise of 21.8 percent.

Imports gained 27.9 percent annually to MYR 88.2 billion in October. Economists had forecast a increase of 26.8 percent.

The trade surplus totaled MYR 26.2 billion in October, which was above the expected level of MYR 24.5 billion, the agency said.

On a monthly basis, exports grew 3.2 percent in October and imports increased 4.1 percent.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186215/

*Dutch Nov Consumer Confidence 12.7 Vs. 12.3 In October

Dutch Nov Consumer Confidence 12.7 Vs. 12.3 In October

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186213/

European Economics Preview: Eurozone Economic Sentiment Data Due

Economic confidence from euro area and flash consumer prices from Germany are due on Monday, headlining a busy day for the European economic news.

At 2.00 am ET, foreign trade and economic confidence reports are due from Turkey.

At 3.00 am ET, Spain's INE publishes flash consumer prices for November. Economists expect harmonized consumer price inflation to rise to 5.6 percent from 5.4 percent in October.

In the meantime, unemployment data is due from Hungary.

Half an hour later, Statistics Sweden is scheduled to issue revised quarterly national accounts and foreign trade data.

At 4.00 am ET, producer price figures are due from Italy. Producer price inflation is expected to advance to 15 percent in October from 13.3 percent in September.

At 4.30 am ET, the Bank of England releases mortgage approvals data for October. The number of mortgages approved in October is seen at 71,250 versus 72,600 in the previous month.

At 5.00 am ET, Eurozone economic confidence survey results are due. The economic sentiment index is forecast to fall to 117.5 in November from 118.6 a month ago.

At 8.00 am ET, Destatis is slated to issue Germany's flash consumer prices for November. Economists expect inflation to rise to 5.0 percent from 4.5 percent in October.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186214/

*Malaysia Oct Trade Surplus MYR 26.2 Bln, Consensus MYR 24.5 Bln

Malaysia Oct Trade Surplus MYR 26.2 Bln, Consensus MYR 24.5 Bln

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186212/

USD/ZAR Forecast: Friday’s Omicron Overshoot Sees Rand Open Higher

The “South African” dubbed Omicron variant, saw the rand nosedive last week as USD/ZAR hit 2021 highs, while travel bans may see the ZAR continue its descent. Via DailyFX - Market News https://ift.tt/32vveVH

The Most Volatile Currency Pairs and How to Trade Them

Find out what currency pairs may show the most volatility, and how you can tailor your strategy to capitalize on market volatility. Via DailyFX - Market News https://ift.tt/32vveVH

Dow, Nasdaq 100 and FTSE Open Higher, Covid Variant Fears Remain the Dominant Market Force

Despite losses overnight in Asia, Europe is opening on the front foot with decent gains across the board. Via DailyFX - Market News https://ift.tt/32vveVH

*Malaysia Oct Imports Up 27.9% Annually, Consensus 26.8%

Malaysia Oct Imports Up 27.9% Annually, Consensus 26.8%

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186211/

*Malaysia Oct Exports Up 25.5% On Year, Consensus 21.8%

Malaysia Oct Exports Up 25.5% On Year, Consensus 21.8%

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186210/

Gold Prices Struggle Even as Markets Convulse Amid Omicron Fears

Gold prices struggled even as financial markets convulsed amid worries about the potential impact of a new, “of-concern” Omicron variant of Covid-19. Via DailyFX - Market News https://ift.tt/32vveVH

Euro Gains Under Threat as US Dollar Recovers From Omicron News. Where to for EUR/USD?

The Euro was weaker against the US Dollar today as the market digested the implications of Omicron and what it means for Fed tightening. Can EUR/USD recover? Via DailyFX - Market News https://ift.tt/32vveVH

Why Most Traders Fail and How to Increase Trading Success

Big financial market volatility and growing access for the average person have made active trading very popular, but the influx of new traders has met with mixed success. Via DailyFX - Market News https://ift.tt/32vveVH

Australia Business Inventories Sink 1.9% In Q3

Company inventories in Australia were down a seasonally adjusted 1.9 percent on quarter in the third quarter of 2021, the Australian Bureau of Statistics said on Monday.

That missed expectations for a flat reading following the 0.2 percent increase in the previous three months.

Company gross profits climbed 4.0 percent on quarter, beating forecasts for a gain of 3.0 percent and slowing from 7.1 percent in the three months prior.

Wages and salaries were down 0.8 percent on quarter and wholesale trade sank 5.9 percent.

On a yearly basis, inventories rose 0.7 percent, while profits climbed 5.4 percent, wages gained 4.7 percent and wholesale sales perked 2.1 percent.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186209/

*Australia Business Inventories -1.9% On Quarter In Q3; Company Profits +4.0%

Australia Business Inventories -1.9% On Quarter In Q3; Company Profits +4.0%

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186208/

Japan Retail Sales Rise 0.9% On Year In October

The value of retail sales in Japan was up 0.9 percent on year in October, the Ministry of Economy, Trade and Industry said on Monday - coming in at 12.552 trillion yen.

That was shy of expectations for an annual increase of 1.1 percent following the 0.5 percent decline in September.

The data also showed that wholesale sales jumped 6.6 percent on year to 34.323 trillion yen, slowing from 8.7 percent in the previous month. Commercial sales were up 5.0 percent to 46.875 trillion yen, slowing from 6.2 percent a month earlier.

On a monthly basis, retail sales rose 1.1 percent - exceeding expectations for a drop of 1.6 percent following the upwardly revised 2.8 percent gain in the previous month (originally 2.7 percent).

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186207/

*Japan Retail Sales +0.9% On Year In October

Japan Retail Sales +0.9% On Year In October

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186206/

Crude Oil Price Volatility Explodes on Omicron News Ahead of OPEC+. Where to For WTI?

Crude oil recovered some lost ground as the fallout from a new strain of coronavirus might force a re-think on releasing reserves or restricting production. Can WTI rally? Via DailyFX - Market News https://ift.tt/32vveVH

Japan Retail Sales Data Due On Monday

Japan will on Monday release October figures for retail sales, highlighting a modest day for Asia-Pacific economic activity.

Retail sales are expected to fall 1.6 percent on month and rise 1.1 percent on year after jumping 2.7 percent on month and slipping 0.6 percent on year in September.

Australia will provide Q3 numbers for business inventories and gross profits. Inventories are called flat on quarter after rising 0.2 percent in the previous three months. Profits are tipped to climb 3.0 percent, slowing from 7.1 percent in Q2.

Singapore will see October figures for import, export and producer prices. In September, import prices were up 16.1 percent on year, while export prices jumped 17.3 percent and producer prices spiked 21.3 percent.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186205/

Australian Dollar Threatens Key Level as APAC Traders Eye Omicron News

The risk-sensitive Australian Dollar faces a tough session ahead, with APAC traders set to digest fresh news about the new 'Omicron' Covid-19 variant out of South Africa. AUD/USD is flirting with a... Via DailyFX - Market News https://ift.tt/32vveVH

NFP and Forex: What is NFP and How to Trade It?

Non-farm payroll figures are highly anticipated by forex traders. Find out how they affect trading. Via DailyFX - Market News https://ift.tt/32vveVH

How to Control Greed When Trading

Greed can turn good trades into bad ones and bad trades into worse trades. Learn how to manage it. Via DailyFX - Market News https://ift.tt/32vveVH

What is FOMO in Trading? Characteristics of a FOMO Trader

What is FOMO in trading, why does it happen and how does it impact trading success? Via DailyFX - Market News https://ift.tt/32vveVH

10 Trading Mistakes to Avoid in Forex Trading

Human error in the FX market is common and can lead to common trading mistakes. See the top 10. Via DailyFX - Market News https://ift.tt/32vveVH

The Psychology of Speculation in the Forex Market

Find out how to develop a positive trading mindset to speculate on forex like a professional. Via DailyFX - Market News https://ift.tt/32vveVH

The New York Session: Forex Trading Tips

When the US session overlaps with the London session it is considered the most liquid period of the day. Via DailyFX - Market News https://ift.tt/32vveVH

Trading the London Session: Guide for Forex Traders

Discover the London FX session, the best currency pairs to trade and how to trade breakouts. Via DailyFX - Market News https://ift.tt/32vveVH

*Sweden Nov Economic Confidence 118 Vs. 119.9 In October

Sweden Nov Economic Confidence 118 Vs. 119.9 In October

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186182/

Australian, NZ Dollars Fall; Yen Climbs As New Variant Sparks Risk Aversion

The Australian and NZ dollars weakened against their major counterparts in the Asian session on Friday, while the Japanese yen jumped, as Asian shares fell on fears over the global spread of new COVID-19 variant that was first identified in South Africa and its impact on the global economy.

Hong Kong found two cases of the new coronavirus strain. The U.K. and Israel temporarily suspended flights from six African countries to prevent the spread of the variant.

In Asia, airlines and other travel shares led the decline, as worries intensified about the likelihood of further travel restrictions from more countries.

Oil prices retreated on fears that transmission of the new virus variant would hurt demand growth.

The variant, known as the B.1.1.529, was found to be different from previous versions and pose great concern, Scientists warned.

It has an unusually high number of mutations and the World Health Organization has scheduled a meeting today to assess the new variant.

The aussie depreciated to more than a 3-month low of 0.7131 against the greenback and a 1-1/2-month low of 81.62 against the yen, down from its prior highs of 0.7190 and 82.94, respectively. The aussie may locate support around 0.70 against the greenback and 80.00 against the yen.

Reversing from its early highs of 1.5567 against the euro and 0.9095 against the loonie, the aussie dipped to more than a 2-week low of 1.5739 and a fresh 6-month low of 0.9069, respectively. If the aussie falls further, it is likely to test support around 1.61 against the euro and 0.89 against the loonie.

The aussie pulled back to 1.0455 against the kiwi, from a high of 1.0490 seen at 6:00 pm ET. On the downside, 1.03 is possibly seen as its next support level.

The kiwi touched more than a 3-month low of 0.6815 against the greenback, 1-1/2-month lows of 78.04 against the yen and 1.6476 against the euro, retreating from its previous highs of 0.6860, 79.09 and 1.6330, respectively. The kiwi is seen finding support around 0.66 against the greenback, 76.00 against the yen and 1.66 against the euro.

The yen recovered from its early lows of 153.68 against the pound, 123.28 against the franc and 115.36 against the greenback, climbing to a 1-1/2-month high of 152.21, 4-day highs of 122.75 and 114.45, respectively. Next key resistance for the yen is seen around 149.00 against the pound, 120.00 against the franc and 112.00 against the greenback.

The yen hit 1-week highs of 128.46 against the euro and 89.84 against the loonie, following its prior lows of 129.29 and 91.18, respectively. The yen is likely to test resistance around 126.00 against the euro and 88.00 against the loonie.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186181/

*France November Consumer Confidence Unchanged 99, Same As In Oct, Consensus 98

France November Consumer Confidence Unchanged 99, Same As In Oct, Consensus 98

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186180/

Singapore Industrial Production Grows In October

Singapore's industrial production grew in October, data from the Economic Development Board showed on Friday.

Industrial output gained 16.9 percent year-on-year in October, after a 2.2 percent drop in September. Production was forecast to increase 4.5 percent.

Excluding biomedical manufacturing, industrial production gained 9.4 percent yearly in September, after a 13.5 percent rise in the preceding month.

On a monthly basis, industrial production rose 2.4 percent in October, after a 1.9 percent decline in the previous month. Economists had expected a 0.5 percent fall.

Biomedical manufacturing grew 56.1 percent annually in October and general manufacturing rose 0.8 percent.

Transport engineering and precision engineering increased by 35.3 percent and 9.1 percent, respectively.

Electronics surged 6.5 percent and chemicals grew by 15.3 percent.

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source http://www.mt5.com/forex_news/quickview/2186179/

*Lithuania October Retail Sales Down 0.1% On Month

Lithuania October Retail Sales Down 0.1% On Month

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source http://www.mt5.com/forex_news/quickview/2186178/

Euro Forecast: EUR/USD Bounces But Further Losses Lie Ahead

This week’s coalition agreement in Germany will lead to a new Government dedicated to more investment. However, the ECB is unlikely to respond and that means more losses ahead for the Euro. Via DailyFX - Market News https://ift.tt/32vveVH

*Lithuania Oct Retail Sales +8.9% On Year Vs. +11.3% In September

Lithuania Oct Retail Sales +8.9% On Year Vs. +11.3% In September

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186177/

*Germany October Import Prices Up 21.7% On Year, Consensus +19.6%

Germany October Import Prices Up 21.7% On Year, Consensus +19.6%

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source http://www.mt5.com/forex_news/quickview/2186175/

*Germany October Import Prices Up 3.8% On Month, Consensus +2.0%

Germany October Import Prices Up 3.8% On Month, Consensus +2.0%

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186176/

*Norway September Retail Sales Down 2.8% Y/Y, Up 0.5% M/M

Norway September Retail Sales Down 2.8% Y/Y, Up 0.5% M/M

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186174/

Malaysia Inflation Rises In October

Malaysia's consumer prices inflation rose in October, data from the Department of Statistics showed on Friday.

Consumer price inflation rose to 2.9 percent in October from 2.2 percent in September. Economists had expected the inflation rise 2.8 percent.

The annual growth was largely driven by the rise in prices of transport by 11.3 percent.

Prices for furnishings, households equipment and routine household maintenance rose 2.1 percent. Prices for food and non-alcoholic beverages gained 1.9 percent and those for recreation services and culture rose by 0.2 percent.

The core inflation was 0.7 percent in October.

On a monthly basis, consumer prices rose 0.7 percent in October.

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source http://www.mt5.com/forex_news/quickview/2186173/

Crude Oil Price Plummets as New Variant Triggers Risk-Off Sentiment

Friday prompted a market wide selloff as COVID-19 worries deepened. Crude oil prices fell as demand prospects dulled, while SPR releases compounded the problem. Via DailyFX - Market News https://ift.tt/32vveVH

South African Rand Battered as UK Restricts SA Travel Ahead of the Holiday Period

USD/ZAR breaks above 16.00 as the UK moved quickly to put SA back on the red list. UK travel secretary adopts “safety first” approach to relatively unknown variant Via DailyFX - Market News https://ift.tt/32vveVH

*Singapore Oct Industrial Production +16.9% On Year Vs. -2.2% In September

Singapore Oct Industrial Production +16.9% On Year Vs. -2.2% In September

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source http://www.mt5.com/forex_news/quickview/2186171/

*Singapore Oct Industrial Production +2.4% On Month Vs. -1.9% In September

Singapore Oct Industrial Production +2.4% On Month Vs. -1.9% In September

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186172/

European Economics Preview: Swiss GDP Data Due

Quarterly national accounts data from Switzerland is due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis releases Germany's import prices for October. Import price inflation is expected to climb to 19.6 percent from 17.7 percent in September.

In the meantime, retail sales and household consumption figures are due from Norway.

At 2.45 am ET, France Insee is scheduled to issue consumer sentiment survey results. The confidence index is expected to fall marginally to 98 in November from 99 in October.

At 3.00 am ET, the State Secretariat for Economic Affairs, or SECO, releases Swiss GDP data for the third quarter. Economists forecast the economy to grow 2 percent sequentially after rising 1.8 percent in the second quarter.

In the meantime, economic tendency survey results are due from Sweden.

At 3.30 am ET, Statistics Sweden publishes retail sales for October. Sales had dropped 0.3 percent on month in September.

At 4.00 am ET, the European Central Bank releases monetary aggregates for October. M3 is forecast to grow 7.4 percent annually, the same rate as seen in September.

Also, business confidence from Italy and manufacturing Purchasing Managers' survey results from Austria are due.

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source http://www.mt5.com/forex_news/quickview/2186170/

XAU/USD Forecast: Gold Prices Rebound as COVID-19 Fears Take Hold

Spot gold prices surged on Friday as the new South African variant sent XAU/USD above the $1800 handle. Bullion could see a rally into year end should the virus intensify. Via DailyFX - Market News https://ift.tt/32vveVH

Global Stock Markets Slump, Risk Shunned on New Covid Variant Fears

News that the World Health Organization (WHO) is monitoring a new, highly mutated form of Covid-19 has sent global stock markets sharply lower in holiday-thinned conditions. Via DailyFX - Market News https://ift.tt/32vveVH

*Malaysia Oct Inflation 2.9% Vs. 2.2% In Sep, Consensus 2.8%

Malaysia Oct Inflation 2.9% Vs. 2.2% In Sep, Consensus 2.8%

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source http://www.mt5.com/forex_news/quickview/2186169/

Currency Carry Trade: What is it and how does it work?

Learn how to calculate and implement currency carry trades in your forex trading strategy. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Sinks as US Dollar Soars Ahead of OPEC+. Will Supply Tap Out For WTI?

Crude went lower today as the growth outlook diminished due to a new variant of Covid-19 being identified. Can oil break out of the recent range? Via DailyFX - Market News https://ift.tt/32vveVH

Australian Dollar Volatility Remains In-Check, Despite Big Beat On Retail Sales Data. Where to for AUD/USD?

The Australian Dollar remained steady immediately after retail sales data showed a large increase over the month of October. Can AUD/USD find support? Via DailyFX - Market News https://ift.tt/32vveVH

*Japan Sep Leading Index 100.9 Vs. 101.3 In August

Japan Sep Leading Index 100.9 Vs. 101.3 In August

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source http://www.mt5.com/forex_news/quickview/2186115/

Avalanche “Ethereum-Killer” Cryptocurrency Grows to $28 billion Market Cap

Avalance and Avalabs show promise to be potential industry-leaders in the blockchain and cryptocurrency space. Via DailyFX - Market News https://ift.tt/32vveVH

British Pound (GBP) Price Outlook: GBP/USD Approaching Key Support Levels

GBP/USD continues to look weak, due principally to a strong US Dollar, but is now close to some important supports that might halt its slide temporarily. Via DailyFX - Market News https://ift.tt/32vveVH

Using Stop Loss Orders in Forex Trading

Market movements can be unpredictable. The stop loss can provide protection against losses. Via DailyFX - Market News https://ift.tt/32vveVH

Types of Forex Orders

Explore the many different types of forex orders, which traders use to manage their trades. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Heats Up Ahead of OPEC+ And Post FOMC Minutes. Will WTI Break Higher?

Oil prices steadied again today despite the US Dollar gaining round elsewhere and a war of words broke out between OPEC+ and the US. Where to for crude? Via DailyFX - Market News https://ift.tt/32vveVH

Using Margin in Forex Trading

Learn the importance of margin in forex trading and how to apply it. Via DailyFX - Market News https://ift.tt/32vveVH

Australia Private Capital Expenditure Sinks 2.2% In Q3

Private capital expenditure in Australia was down a seasonally adjusted 2.2 percent on quarter in the third quarter of 2021, the Australian Bureau of Statistics said on Thursday - coming in at A$32.699 billion.

That missed expectations for a fall of 2.0 percent following the 4.4 percent increase in the previous three months.

Building capex was down 0.2 percent on quarter at A$16.922 billion after rising 4.6 percent in Q2, while plant machinery capex dropped 4.1 percent to A$15.777 billion after gaining 4.3 percent in the three months prior.

On a yearly basis, overall capital spending was up 12.9 percent, while building capex rose 9.0 percent and plant machinery capex jumped 17.4 percent.

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source http://www.mt5.com/forex_news/quickview/2186114/

What is Leverage in Forex? Forex Leverage Explained

Find out how leverage works and how to manage your risk when trading FX with leverage. Via DailyFX - Market News https://ift.tt/32vveVH

*Australia Private Capital Expenditure -2.2% On Quarter In Q3

Australia Private Capital Expenditure -2.2% On Quarter In Q3

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source http://www.mt5.com/forex_news/quickview/2186113/

Forex Spreads Trading Strategies & Tips

Learn how to master the forex spread and keep your trading costs low with our strategies and tips. Via DailyFX - Market News https://ift.tt/32vveVH

A Guide to Trading Psychology

The psychology of trading is often overlooked but is a key part of a professional trader’s skillset. Via DailyFX - Market News https://ift.tt/32vveVH

South Korea Rate Decision Due On Thursday

The Bank of Korea will wrap up its monetary policy meeting on Thursday and then announce its decision on interest rates, highlighting a modest day for Asia-Pacific economic activity.

The central bank is expected to hike its benchmark lending rate by 25 basis points, from 0.75 percent to 1.00 percent.

Singapore will provide Q3 data for its current account; in the three months prior, the current account surplus was $25.64 billion.

Hong Kong will release October figures for imports, exports and trade balance. In September, imports were up 23.5 percent on year and exports gained an annual 16.5 percent for a trade deficit of HKD42.4 billion.

Japan will see final September figures for its leading and coincident economic indexes; in August, their scores were 101.3 and 91.3, respectively.

Australia will provide Q3 numbers for private capital expenditure, with forecasts suggesting a decline of 2.0 percent on quarter following the 4.4 percent gain in the three months prior.

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source http://www.mt5.com/forex_news/quickview/2186112/

New Zealand Has NZ$1.286 Billion Trade Deficit In October

New Zealand posted a merchandise trade deficit of NZ$1.286 billion in October, Statistics New Zealand said on Thursday.

That follows the downwardly revised NZ$2.206 billion shortfall in September (originally a NZ$2.171 billion deficit).

Exports climbed 12 percent on year to NZ$5.35 billion last month after showing NZ$4.36 billion in the previous month. Imports jumped an annual 26 percent to NZ$6.64 billion, up from NZ$6.57 billion a month earlier.

For the year to October, exports were up 3.3 percent to NZ$62.1 billion and imports spiked 16 percent to NZ$67.0 billion for a deficit of NZ$4.9 billion.

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source http://www.mt5.com/forex_news/quickview/2186111/

*New Zealand Trade Deficit NZ$1.286 Billion In October

New Zealand Trade Deficit NZ$1.286 Billion In October

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source http://www.mt5.com/forex_news/quickview/2186109/

*New Zealand Exports NZ$5.35 Billion In October; Imports NZ$6.64 Billion

New Zealand Exports NZ$5.35 Billion In October; Imports NZ$6.64 Billion

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source http://www.mt5.com/forex_news/quickview/2186110/

How to Learn Technical Analysis with DailyFX

Getting started in technical analysis can seem daunting but understanding the basics will build a solid foundation. Learn more... Via DailyFX - Market News https://ift.tt/32vveVH

U.S. Dollar Moves Higher Following Slew Of Data

With traders reacting to a slew of U.S. economic data, the U.S. dollar has moved higher on Wednesday, extending a recent upward trend.

The U.S. dollar index is rising 0.34 points or 0.4 percent to 96.83 after reaching its best intraday level in well over a year.

The greenback is trading at 115.40 yen compared to the 115.14 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is trading at $1.1202 compared to yesterday's $1.1248.

The advance by the dollar comes after the Labor Department released a report showing first-time claims for U.S. unemployment benefits slid to their lowest level in over fifty years in the week ended November 20th.

The Labor Department said initial jobless claims tumbled to 199,000, a decrease of 71,000 from the previous week's revised level of 270,000.

Economists had expected jobless claims to edge down to 260,000 from the 268,000 originally reported for the previous week.

With the much bigger than expected decrease, jobless claims fell to their lowest level since hitting 197,000 in November of 1969.

Meanwhile, the Commerce Department released a report showing another steep drop in orders for transportation equipment led to an unexpected decrease in new orders for U.S. manufactured durable goods in the month of October.

The report said durable goods orders fell by 0.5 percent in October following a 0.4 percent drop in September. The decrease surprised economists, who had expected durable goods orders to rise by 0.2 percent.

Excluding the continued decline in orders for transportation equipment, durable goods orders rose by 0.5 percent in October after climbing by 0.7 percent in September. The increase matched economist estimates.

A separate report from the Commerce Department showed the U.S. economy grew by slightly more than previously estimated in the third quarter.

The Commerce Department said real gross domestic product advanced by 2.1 percent in the third quarter compared to the previously reported 2.0 percent increase. Economists had expected the pace of GDP growth to be upwardly revised to 2.2 percent.

Another Commerce Department showed personal income and spending both increased by more than expected during the month of October.

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source http://www.mt5.com/forex_news/quickview/2186108/

Oil Futures Settle Marginally Down As Inventories Rise

Crude oil futures settled slightly lower on Wednesday after data showed a modest increase in U.S. crude stockpiles in the week ended November 19th.

Investors continued to weigh the impact of an announcement from the U.S. that it would release 50 million barrels from the U.S. Strategic Petroleum Reserve. The U.S.' decision came after OPEC+ producers repeatedly ignored calls for more crude output.

West Texas Intermediate crude oil futures ended down by $0.11 or 0.14% at $78.39 a barrel.

Brent crude futures settled at $82.25 per barrel, down $0.06 or 0.7% from the previous session.

Data from the Energy Information Administration (EIA) showed crude stockpiles in the U.S. increased by 1.017 million barrels last week, more than twice the expected increase.

The data showed gasoline inventories dropped by 603,000 barrels last week, more than an expected draw of 461,000 barrels.

Meanwhile, distillate stockpiles dropped by 1.968 million barrels in the week nearly twice an expected drop of 1.002 million barrels.

American Petroleum Institute reported late Tuesday that crude inventories in the U.S. rose by 2.31 million barrels in the week ending November 19.

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source http://www.mt5.com/forex_news/quickview/2186107/

Treasuries Show Notable Turnaround After Seeing Early Weakness

After an early move to the downside, treasuries showed a significant turnaround over the course of the trading day on Wednesday.

Bond prices climbed well off their early lows and firmly into positive territory. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 2.2 basis points to 1.645 percent after reaching a high of 1.693 percent.

Treasuries initially extended their recent downward move after the Labor Department released a report showing first-time claims for U.S. unemployment benefits slid to their lowest level in over fifty years in the week ended November 20th.

The Labor Department said initial jobless claims tumbled to 199,000, a decrease of 71,000 from the previous week's revised level of 270,000.

Economists had expected jobless claims to edge down to 260,000 from the 268,000 originally reported for the previous week.

With the much bigger than expected decrease, jobless claims fell to their lowest level since hitting 197,000 in November of 1969.

Selling pressure waned over the course of the morning, however, potentially leading to some traders to pick up treasuries at reduced levels as the ten-year yield reached its highest intraday level in six months.

The turnaround in the bond market also came amid the release of slew of U.S. economic data in addition to the weekly jobless claims report.

The Commerce Department released separate reports showing an unexpected drop in durable goods orders but an increase in new home sales in the month of October.

Another Commerce Department showed personal income and spending both increased by more than expected during the month.

Meanwhile, traders largely shrugged off the release of the minutes of the Federal Reserve early November monetary policy meeting.

While the minutes said some participants felt the Fed should be prepared to raise interest rates sooner than currently anticipated if inflation continues to run high, bond traders may have viewed the sentiment as old news.

Following the Thanksgiving Day holiday on Thursday, trading activity is likely to remain light on Friday ahead of an early close by the markets.

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source http://www.mt5.com/forex_news/quickview/2186106/

Fed Minutes Raise Possibility Of Sooner-Than-Anticipated Rate Hikes

Reflecting concerns about the pace of inflation, the minutes of the Federal Reserve's monetary policy meeting in early November revealed some participants felt the central bank should be prepared to raise interest rates sooner than currently anticipated.

The minutes released Wednesday afternoon said various participants believe the Fed might need to both reduce asset purchases and raise rates if inflation continues to run higher than levels consistent with the central bank's objectives.

However, others argued that a patient attitude remained appropriate in light of the considerable uncertainty about developments in supply chains, production logistics, and the course of the coronavirus pandemic.

The participants still agreed that the Fed should not hesitate to take appropriate actions to address inflation pressures that posed risks to its longer-run price stability and employment objectives.

The potential for sooner-than-anticipated rate hikes comes as a number of participants expressed concerns the public's longer-term expectations of inflation might increase to a level above that consistent with the Fed's longer-run inflation objective.

The Fed has repeatedly indicated it aims to achieve inflation moderately above 2 percent for some time so that inflation averages 2 percent over time and longer-term inflation expectations remain well anchored at 2 percent.

The minutes said a couple of participants pointed to increases in survey and market-based indicators of expected inflation as possible signs that inflation expectations were becoming less well anchored.

At the same time, several others said measures of near and medium-term inflation expectations had not exhibited greater sensitivity than usual and noted indicators of longer-term inflation expectations remained well anchored at levels consistent with the Fed's longer-run 2 percent goal.

The Fed agreed during the meeting to reduce the pace of its $120 billion per month in asset purchases by $15 per month beginning in mid-November.

The minutes showed some participants felt reducing the pace of asset purchases by more than $15 billion each month could be warranted so that the Fed would be in a better position to raise interest rates.

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source http://www.mt5.com/forex_news/quickview/2186105/

Gold Futures Settle Slightly Higher

Gold futures settled marginally up on Wednesday, snapping a 4-day losing streak, despite a steady dollar and some upbeat economic data.

The dollar index climbed to 96.94, gaining nearly 0.5%.

Gold futures for December ended higher by $0.50 at $1,784.30 an ounce.

Silver futures for December gained $0.061 to settle at $23.496 an ounce, while Copper futures for December settled at $4.3915 per pound, gaining $0.0355 for the session.

Data released by the Labor Department showed first-time claims for U.S. unemployment benefits slid to their lowest level in over fifty years in the week ended November 20th.

The data said initial jobless claims tumbled to 199,000, a decrease of 71,000 from the previous week's revised level of 270,000. Economists had expected jobless claims to edge down to 260,000 from the 268,000 originally reported for the previous week.

With the much bigger than expected decrease, jobless claims fell to their lowest level since hitting 197,000 in November of 1969.

Revised data released by the Commerce Department showed the U.S. economy grew by slightly more than previously estimated in the third quarter, advancing by 2.1%, compared to the previously reported 2% increase. Economists had expected the pace of GDP growth to be upwardly revised to 2.2%.

Personal income in the U.S. rebounded by more than expected in the month of October, climbing by 0.5%, according to a report released by the Commerce Department. Personal income had slumped by 1% in September. Economists had expected personal income to edge up by 0.2%.

The report also showed personal spending surged up by 1.3% in October following a 0.6% advance in September. Spending was expected to increase by 0.9%.

Another data from Commerce Department said new home sales in U.S. rose by 0.4% in October after spiking 7.1% in September. Economists had expected new home sales to decrease by 1.3%.

The University of Michigan released a report showing consumer sentiment in the U.S. was upwardly revised to 67.4 from the preliminary reading of 66.8. Economists had expected th eindex to be upwardly revised to 66.9.

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source http://www.mt5.com/forex_news/quickview/2186104/

*Federal Reserve Releases Minutes Of November Monetary Policy Meeting

Federal Reserve Releases Minutes Of November Monetary Policy Meeting

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source http://www.mt5.com/forex_news/quickview/2186103/

*Finland October Producer Prices Up 20.8% Y/Y, 1.2% M/M

Finland October Producer Prices Up 20.8% Y/Y, 1.2% M/M

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source http://www.mt5.com/forex_news/quickview/2186051/

British Pound (GBP) Price Outlook: GBP/USD Brushes Off Government Setback

GBP/USD is stabilizing after its recent falls despite an upset for Boris Johnson in Parliament, but there’s a risk the Pound could suffer longer-term from growing pressures on the UK Prime Minister. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Prices Up on Limp Reserves Release, PCE and FOMC Minutes Eyed

Crude oil prices rose after a US-led effort to release reserves underwhelmed. US PCE inflation data and November’s FOMC meeting minutes may revive selling pressure. Via DailyFX - Market News https://ift.tt/32vveVH

European Economics Preview: German Ifo Business Confidence Data Due

Business sentiment survey results from Germany and France are due on Wednesday, headlining a light day for the European economic news.

At 2.45 am ET, France's statistical office Insee publishes business sentiment survey results. The business confidence index is expected to drop to 106 in November from 107 in October.

At 3.00 am ET, business sentiment data is due from the Czech Republic.

At 4.00 am ET, Germany's ifo Institute is scheduled to issue business sentiment data. The confidence index is seen at 96.6 in November versus 97.7 in October.

At 6.00 am ET, the Confederation of British Industry releases Industrial Trends survey results. The order book balance is expected to improve to 13 in November from 9 in the previous month.

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source http://www.mt5.com/forex_news/quickview/2186050/

Copper Trading: Copper Trading Tips and Strategies

Copper may not be the world's most popular metal but it certainly is one of the more important. Via DailyFX - Market News https://ift.tt/32vveVH

Japanese Yen Hit by Crude Oil, US Dollar and US Yields Impacts. Where to for USD/JPY?

The Japanese Yen has been under pressure but found some respite today as US Treasury yields pulled back from their highs. Will USD/JPY make new highs? Via DailyFX - Market News https://ift.tt/32vveVH

Stock Market Holiday Calendar 2020/21

What holiday-related events impact the stock market? Find out in our annual holiday calendar. Via DailyFX - Market News https://ift.tt/32vveVH

Australia Construction Work Done Slips 0.3% In Q3

The total value of construction work done in Australia was down a seasonally adjusted 0.3 percent on quarter in the third quarter of 2021, the Australian Burau of Statistics said on Wednesday - coming in at A$53.926 billion.

That beat forecasts for a decline of 3.1 percent following the 0.8 percent increase in the three months prior.

Individually, building work was down 0.9 percent on quarter to A$30.438 billion, while residential work was flat at A$18.768 billion, non-residential work was down 2.2 percent at A$11.670 billion and engineering work rose 0.4 percent to A$23.487 billion.

On a yearly basis, the value of overall construction work done increased 3.5 percent.

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source http://www.mt5.com/forex_news/quickview/2186049/

Singapore GDP Jumps 7.1% On Year In Q3

Singapore's gross domestic product expanded 7.1 percent on year in the third quarter of 2021, the Ministry of Trade and Industry said on Wednesday.

That beat expectations for an increase of 6.5 percent following the upwardly revised 15.2 percent spike in the previous three months (originally 14.7 percent).

On a seasonally adjusted quarterly basis, GDP was up 1.3 percent - again beating forecasts for a gain of 1.0 percent following the upwardly revised 1.4 percent contraction in the second quarter (originally -1.8 percent).

Upon the release of the data, the MTI raised its forecast for annual growth in 2021 to 7.0 percent and in the range of 3 to 5 percent in 2022.

By sectors, the manufacturing sector grew 7.2 percent on year, moderating from 17.9 percent growth in the preceding quarter. On a quarterly basis, the manufacturing sector shrank by 0.1 percent, easing from the 2.2 percent contraction in the second quarter.

The construction sector surged 66.3 percent on year, slowing from the 117.5 percent expansion in Q2. On quarter, the sector gained 4.9 percent, a reversal from the 2.4 percent contraction in the second quarter.

The wholesale trade sector gained 5.9 percent on year, faster than the 3.4 percent expansion in the previous quarter. On quarter, the sector registered flat growth, improving from the 0.6 per cent contraction in the preceding quarter.

The retail trade sector expanded by 0.7 percent on year, slower from the 51.1 percent surge in the previous quarter. On quarter, the sector grew 3.1 percent, a reversal from the 4.3 percent contraction in the preceding quarter.

Growth in the transportation & storage sector slowed to 8.2 percent on year, from 20.1 percent in the second quarter. On quarter, the sector expanded by 1.3 percent, a turnaround from the 2.3 percent contraction in Q2.

The accommodation sector contracted by 4.1 percent on year, a reversal from the 15.8 percent expansion in the preceding quarter. On quarter, the sector grew by 3.6 percent, moderating from the 4.5 percent growth in the previous quarter.

The food and beverage services sector shrank 4.2 percent on year, in contrast to the 36.9 percent expansion in the second quarter. On quarter, the sector contracted by 2.8 percent, extending the 8.0 percent contraction in Q2.

The information and communications sector jumped 10.4 percent on year, the same pace of growth as in the previous quarter. On quarter, the sector grew 6.2 percent, faster than the 1.0 percent growth in the second quarter.

Growth in the finance and insurance sector came in at 9.0 percent on year, extending the 9.8 percent gain in the preceding quarter. On quarter, the sector expanded marginally by 0.2 percent, moderating from the 2.7 percent growth in the previous quarter.

The real estate sector grew 16.8 percent on year, slower than the 26.3 percent growth in the preceding quarter. On quarter, the sector saw growth of 3.9 percent, a turnaround from the contraction of 3.3 percent in the second quarter.

The professional services sector expanded 4.4 percent on year, moderating from the 10.8 percent expansion in the previous quarter. On quarter, the sector added 1.2 percent, extending the 0.9 percent growth in the preceding quarter.

The administrative and support services sector contracted by 1.3 percent on year, following the flat growth in the second quarter. On quarter, the sector expanded marginally by 0.2 percent, improving from the 1.1 percent contraction in the previous quarter.

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source http://www.mt5.com/forex_news/quickview/2186048/

Japan Manufacturing Sector Accelerates In November - Jibun

The manufacturing sector in Japan picked up steam in November, the latest survey from Jibun Bank revealed on Wednesday with a manufacturing PMI score of 54.2.

That's up from 53.2 in October and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Both output and new order growth quickened in November. Manufacturers continued to point to strengthening inflationary pressures amid ongoing supply shortages, which pushed input price inflation to the highest level since August 2008.

Positive sentiment was also marked overall, despite softening in October.

The survey also showed that the services PMI improved to 52.1 in November from 50.7 in October, and the composite PMI rose to 52.5 from 50.7.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186047/

*Japan Manufacturing PMI 54.2 In November - Jibun Bank

Japan Manufacturing PMI 54.2 In November - Jibun Bank

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186046/

*Japan Services PMI 52.1 In November; Composite PMI 52.5 - Jibun Bank

Japan Services PMI 52.1 In November; Composite PMI 52.5 - Jibun Bank

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186045/

*Australia Construction Work Done -0.3% On Quarter In Q3

Australia Construction Work Done -0.3% On Quarter In Q3

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186044/

Singapore GDP Climbs 7.1% On Year In Q3

Singapore's gross domestic product grew 7.1 percent on year in the third quarter of 2021, the Ministry of Trade and Industry said on Wednesday.

That exceeded expectations for an increase of 6.5 percent following the upwardly revised 15.2 percent spike in the previous three months (originally 14.7 percent).

On a seasonally adjusted quarterly basis, GDP was up 1.3 percent - again beating forecasts for a gain of 1.0 percent following the upwardly revised 1.4 percent contraction in the second quarter (originally -1.8 percent).

Upon the release of the data, the MTI raised its forecast for annual growth in 2021 to 7.0 percent and in the range of 3 to 5 percent in 2022.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186043/

*Singapore GDP +1.3% On Quarter, +7.1% On Year In Q3

Singapore GDP +1.3% On Quarter, +7.1% On Year In Q3

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186042/

Gold Prices Hit by Rising US Yields Lifting the US Dollar. Will XAU/USD Go Lower?

Gold prices moved lower in the aftermath of Fed leadership resolution that pushed Treasury yields and the US Dollar higher. Will XAU/USD weaken? Via DailyFX - Market News https://ift.tt/32vveVH

New Zealand Rate Decision On Tap For Wednesday

The Reserve Bank of New Zealand will wrap up its monetary policy meeting on Wednesday and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity.

The central bank is widely expected to hike its Official Cash Rate by 25 basis points, from 0.50 percent to 0.75 percent.

Japan will see November results for the manufacturing, services and composite indexes from Jibun Bank; in October, their scores were 53.2, 50.7 and 50.7, respectively.

Singapore will release final Q3 figures for gross domestic product; in the previous three months, GDP was down 1.8 percent on quarter and up 14.7 percent on year.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186041/

NZD/USD Volatile After RBNZ Lifts OCR Rate by 25 Basis Points. Focus Shifts to US PCE

The New Zealand Dollar gyrated versus the US Dollar after the RBNZ raised its official cash rate (OCR) by 25 basis points, meeting analysts' expectations. Via DailyFX - Market News https://ift.tt/32vveVH

South Korea Business Confidence Index Holds At 90 In November

Business confidence in South Korea was steady in November, the latest survey from the Bank of Korea showed on Wednesday with a Business Survey Index (BSI) core of 90 - unchanged from the October reading.

The outlook was also unchanged at 88.

In the non-manufacturing sector, the BSI on business conditions for November was 83, down 1 point from the previous month, and that for the outlook for the following month fell by 2 points to 83.

The Economic Sentiment Index (ESI)-a composite of the BSI and the CSI (Consumer Survey Index) - for November was 106.3, up 0.7 point from October.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186040/

*South Korea Business Confidence Index Unchanged At 90 In November - BoK

South Korea Business Confidence Index Unchanged At 90 In November - BoK

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186039/

Oil Futures Settle Sharply Higher

Crude oil futures settled sharply higher on Tuesday, rebounding strongly from earlier losses.

Worries about the outlook for energy demand due to rising coronavirus cases in Europe, and concerns about excess supply in the market amid plans by the U.S. to release oil from the Strategic Petroleum Reserve in coordination with China, India, Japan, South Korea and the U.K., weighed on crude oil prices earlier in the day.

The U.S. said today that it would release millions of barrels of oil from strategic reserves to cool prices after OPEC+ producers repeatedly ignored calls for more crude.

The Biden administration said it would release 50 million barrels from the U.S. Strategic Petroleum Reserve, which will start hitting the market in mid to late December.

West Texas Intermediate Crude oil futures for January ended higher by $1.75 or about 2.3% at $78.50 a barrel, well off the day's low of $75.30 a barrel.

Brent crude futures were up $2.65 or 3.3% at $82.37 a barrel a little while ago.

Traders now look ahead to the weekly oil reports from the American Petroleum Institute (API) and U.S. Energy Information Administration (EIA). While the API's report is due later today, the EIA will released its inventory data Wednesday morning.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186038/

Treasuries Extend Pullback In Reaction To Powell Renomination

Treasuries moved to the downside during trading on Tuesday, extending the notable pullback seen in the previous session.

Bond prices came under pressure early in the session and remained firmly negative throughout the day. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, rose 4.2 basis points to 1.667 percent.

The ten-year yield added to the 8.9 basis point jump seen on Monday, ending the session at its highest closing level in a month.

The continued weakness among treasuries came as traders were still reacting to news that President Joe Biden intends to nominate Jerome Powell for a second term as Fed Chair.

While Biden also intends to nominate current Fed Governor Lael Brainard as Vice Chair, she was seen as a potentially more dovish alternative to Powell.

Overall trading activity was somewhat subdued, however, with a lack of major U.S. economic data keeping some traders on the sideline.

Meanwhile, traders largely shrugged off the results of the Treasury Department's auction of $59 billion worth of seven-year notes, which attracted above average demand.

The seven-year note auction drew a high yield of 1.588 percent and a bid-to-cover ratio of 2.42, while the ten previous seven-year note auctions had an average bid-to-cover ratio of 2.27.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

On Monday, the Treasury revealed the auction of $58 billion worth of two-year notes drew well below average demand, while the auction of $59 billion worth of five-year notes drew slightly below average demand.

Following the quiet day on the U.S. economic front, trading on Wednesday may be impacted by reaction to a slew of data.

Traders are likely to keep an eye on reports on weekly jobless claims, durable goods orders, new home sales and personal income and spending as well as the minutes of the latest Fed meeting.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2186037/

AUD/USD Weakness Moderates Above Key Levels as Wall Street Rotation Continues

The Australian Dollar was largely unchanged versus the Greenback overnight as Wall Street rotated out of tech stocks. The RBNZ rate decision and commentary from RBA Assistant Governor Bullock are o... Via DailyFX - Market News https://ift.tt/32vveVH

European Economics Preview: Eurozone Final Composite PMI Data Due

Flash composite Purchasing Managers' survey results from Eurozone and the UK are due on Tuesday, headlining a light day for the European economic news.

At 3.15 am ET, IHS Markit releases France flash composite PMI data for November. Economists forecast the composite output index to fall to 53.6 in November from 54.7 in October.

At 3.30 am ET, Germany's flash PMI survey results are due. The composite index is seen easing to 51.0 in November from 52.0 a month ago.

At 4.00 am ET, IHS Markit is scheduled to issue euro area preliminary composite PMI data. Economists expect the composite output index to drop to 53.2 in November from 54.2 in October.

In the meantime, retail sales are due from Poland. Sales are forecast to climb 12.4 percent on year, following an 11.1 percent rise in September. Half an hour later, UK Markit/CIPS composite Purchasing Managers' survey results are due. The composite PMI is forecast to fall to 57.5 from 57.8 in October.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185990/

*Singapore Oct Inflation 3.2% Vs. 2.5% In Sep, Consensus 2.8%

Singapore Oct Inflation 3.2% Vs. 2.5% In Sep, Consensus 2.8%

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185988/

*Singapore Oct MAS Core Inflation 1.5% Vs. 1.2% In September

Singapore Oct MAS Core Inflation 1.5% Vs. 1.2% In September

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185989/

EU Breaking News: Flash PMI Indicates November Expansion, Euro Higher

The Euro gained on the back of better than expected flash composite PMI data for November, disregarding COVID-19 concerns. U.S. PMI in focus as EUR/USD ticks higher. Via DailyFX - Market News https://ift.tt/32vveVH

How to Short Sell a Stock When Trading Falling Markets

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Forex Vs Stocks: Top Differences & How to Trade Them

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US Dollar Leaps on Fed Re-Nomination Pumping Up Treasury Yields. Will USD Keep Going?

The US Dollar tracked higher today as the market absorbed Jerome Powell getting the nod from Joe Biden. Can anything stop the Dollar train? Via DailyFX - Market News https://ift.tt/32vveVH

Gold Looks to Defend Key 1800 Level as PCE Inflation Data Nears

Gold is holding above the key 1800 level after prices drop hard following President Biden renominating Jerome Powell to lead the Federal Reserve. Bullion traders now turn their focus to US PCE data. Via DailyFX - Market News https://ift.tt/32vveVH

New Zealand Retail Sales Tumble 8.1% On Quarter In Q3

The total volume of retail sales in New Zealand was down a seasonally adjusted 8.1 percent on quarter in the third quarter of 2021, Statistics New Zealand said on Tuesday - following the 3.3 percent increase in the second quarter.

By industry, the largest movements were: food and beverage services - down 19 percent; motor vehicle and parts retailing - down 12 percent; department stores - down 24 percent; and hardware, building, and garden supplies - down 15 percent.

The total value of retail sales fell 7.0 percent on quarter.

the main movements by industry were: food and beverage services - down 19 percent (NZ$626 million); motor vehicle and parts retailing - down 12 percent (NZ$490 million); hardware, building, and garden supplies - down 14 percent (NZ$389 million); and department stores - down 23 percent (NZ$363 million).

On a yearly basis, retail sales volume sank 5.2 percent after skyrocketing 33.3 percent in the three months prior.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185987/

Australia Manufacturing Sector Accelerates In November - Markit

The manufacturing sector in Australia continued to expand in November, and at a faster pace, the latest survey from Markit Economics showed on Tuesday with a manufacturing PMI score of 58.5.

That's up from 58.2 in October and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Growth of manufacturing output and new orders accelerated in November amid reports of a further reopening of the Australian economy while market confidence improved alongside better COVID-19 conditions. As a result, employment levels and buying activity continued to expand.

The report also showed that the services PMI improved from 51.8 to 55.0 and the composite index also rose to 55.0 from 52.1 in October.

A further easing of COVID-19 restrictions in Australia enabled service sector business activity to grow at the fastest rate since June. Growth of new business also accelerated to the fastest pace in five months, with the easing of restrictions unleashing some pent-up demand.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185986/

South Korea Consumer Confidence Index Improves Tio 107.6 - BoK

Consumer confidence in South Korea picked up steam in November, the latest survey from the Bank of Korea showed on Tuesday with a sentiment index score of 107.6 - up from 106.8 in October.

Consumer sentiment regarding current living standards was unchanged at 92, while the outlook was one point lower than in the previous month at 97.

Consumer sentiment related to future household income was unchanged at 101, and the outlook was three points higher at 115.

Consumer sentiment concerning current domestic economic conditions was one point higher than in the previous month at 81, and the outlook was unchanged at 96.

The expected inflation rate for the following year was 2.7 percent.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185985/

*Australia Services PMI 55.0 In November; Composite Index Also 55.0 - Markit

Australia Services PMI 55.0 In November; Composite Index Also 55.0 - Markit

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185984/

*Australia Manufacturing PMI 58.5 In November - Markit

Australia Manufacturing PMI 58.5 In November - Markit

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185983/

Australia PMI Data Due On Tuesday

Australia will on Tuesday see November results for the manufacturing, services and composite indexes from Markit Economics, highlighting a modest day for Asia-Pacific economic activity.

In October, the manufacturing PMI had a score of 58.2, while the services PMI was at 51.8 and the composite came in at 52.1.

Singapore will release October numbers for consumer prices, with forecasts suggesting an increase of 1.3 percent on year - accelerating from 1.2 percent in September. Core CPI is called higher by an annual 2.8 percent, up from 2.5 percent a month earlier.

Taiwan will provide October figures for industrial production and retail sales; in September, output jumped 12.24 percent on year and sales rose an annual 1.26 percent.

Finally, the markets in Japan are closed on Tuesday for Labor Thanksgiving Day and will re-open on Wednesday.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185982/

*New Zealand Retail Sales -8.1% On Quarter, -5.2% On Year In Q3

New Zealand Retail Sales -8.1% On Quarter, -5.2% On Year In Q3

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185981/

*South Korea Consumer Confidence Index 107.6 In November - BoK

South Korea Consumer Confidence Index 107.6 In November - BoK

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185980/

Dollar Climbs Higher As Biden Nominates Powell For Second Term As Fed Chief

The U.S. dollar climbed higher on Monday, recording gains against its major rivals, after President Joe Biden nominated Federal Reserve Chair Jerome Powell for a second term.

The White House also revealed that Biden has nominated current Fed Governor Lael Brainard as Vice Chair of the Federal Reserve System.

The White House said that economic recovery "is a testament to the success of the President's economic agenda, and it is a testament to decisive action by Chair Powell and the Federal Reserve to cushion the impact of the pandemic and get America's economy back on track."

Biden expressed confidence that Powell and Brainard's focus on keeping inflation low, prices stable, and delivering full employment will make the economy stronger than ever before.

Recent comments from Fed Vice Chairman Richard Clarida and Fed Governor Chirstopher Waller, which triggered hopes for an earlier tighterning of moentary policy contributed as well to the dollar's uptick.

According to a report from the National Association of Realtors, U.S. existing home sles increased unexpectedly by 0.8% to an annual rate of 6.34 million in October after spiking by 0.7% to a rate of 6.29 million in September.

The dollar index climbed to 96.55, gaining 0.55%.

Against the Euro, the dollar firmed to 1.1238 from 1.1281 as several countries across Europe reported a surge in coronavirus cases and announced fresh lockdown measures.

The dollar is trading at 1.3392 against Pound Sterling, compared to $1.3447 Friday evening.

The dollar is trading at 114.88 yen, gaining from 114.03.

Against the Aussie, the dollar is at 0.7225, firming slightly from 0.7235.

The Swiss franc is at 0.9331 a dollar, easing from 0.9285.

The dollar is trading at C$1.2699, up from C$1.2640 on Friday.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185979/

Nasdaq 100 Sinks, Dow Jones Outperforms after Powell Renomination. Nikkei 225 at Risk

The Nasdaq 100 sank as the Dow Jones outperformed with rising Treasury yields after Fed Chair Jerome Powell was renominated by President Joe Biden. Ahead, the Nikkei 225 may fall. Via DailyFX - Market News https://ift.tt/32vveVH

AUD/USD May Rise After PMIs Reveal Robust Recovery as Vaccination Rates Swell

AUD/USD may rise after PMI data showed robust growth in Australia amid surging vaccination rates. That follows a tough overnight session when the US Dollar surged on Biden's Fed announcement. Via DailyFX - Market News https://ift.tt/32vveVH

Natural Gas Prices Decline Yet Again, More Pain Ahead?

Natural gas prices were lower on Monday as weather forecasts for the beginning of December were milder than previously expected. Via DailyFX - Market News https://ift.tt/32vveVH

Oil Futures Settle Notably Higher

Crude oil futures settled higher on Monday despite rising concerns about the outlook for energy demand due to a surge in coronavirus cases in several countries, and likely oversupply in the market.

Oil prices surged higher on reports that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, may consider altering plans to keep boosting production if the U.S. and major Asian countries China, India and South Korea released oil from national reserves.

West Texas Intermediate Crude oil futures for December settled higher by $0.81 or about 1.1% at $76.75 a barrel.

Brent crude futures were up $0.72 or 0.91% at $79.61 a barrel a little while ago.

The U.S., as well as India, Japan, China and South Korea are reportedly working out plans to release crude from national reserves, aiming to curb rising crude oil prices.

Japan is considering releasing oil from its reserves long with the United States and other countries to help curb rising crude oil prices, Prime Minister Fumio Kishida said Saturday.

"We are considering what we can do," Kishida told reporters in Matsuyama, Ehime Prefecture, when asked about the possibility.

China also said it intends to release some reserves as the White House pressed the OPEC producer group again to boost output.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185978/

Treasuries Give Back Ground As Biden To Nominate Powell For Second Term

Treasuries showed a notable move to the downside during trading on Monday, giving back ground after trending higher over the past few sessions.

Bond prices moved steadily lower as the day progressed, settling firmly in negative territory. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, advanced 8.9 basis points to 1.625 percent.

The pullback by treasuries came after President Joe Biden announced his intent to nominate Jerome Powell for a second term as Federal Reserve Chair.

The White House also revealed that Biden intends to nominate current Fed Governor Lael Brainard as Vice Chair of the Federal Reserve System.

"While there's still more to be done, we've made remarkable progress over the last 10 months in getting Americans back to work and getting our economy moving again," Biden said.

He added, "That success is a testament to the economic agenda I've pursued and to the decisive action that the Federal Reserve has taken under Chair Powell and Dr. Brainard to help steer us through the worst downturn in modern American history and put us on the path to recovery."

Biden expressed confidence Powell and Brainard's focus on keeping inflation low, prices stable, and delivering full employment will make the economy stronger than ever before.

"Fundamentally, if we want to continue to build on the economic success of this year we need stability and independence at the Federal Reserve - and I have full confidence after their trial by fire over the last 20 months that Chair Powell and Dr. Brainard will provide the strong leadership our country needs," Biden said.

Powell, who was nominated by former President Donald Trump, took office as Fed Chair in February 2018. His current term was due to end in February 2022.

While the re-nomination of Powell will give the Fed stability as it grapples with the economic recovery and elevated inflation, Brainard was seen as the more dovish choice.

Treasuries saw further downside after the Treasury Department revealed this month's auctions of $58 billion worth of two-year notes and $59 billion worth of five-year notes attracted below average demand.

A quiet day on the U.S. economic front may lead to light trading on Tuesday ahead of the release of a slew of data on Wednesday.

Bond traders are still likely to keep an eye on the results of the Treasury Department's auction of $59 billion worth of seven-year notes.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185977/

*Poland Oct Producer Prices +11.8% On Year Vs. +10.3% In September

Poland Oct Producer Prices +11.8% On Year Vs. +10.3% In September

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185953/

*Hong Kong Oct Inflation 1.7% Vs. 1.4% In September

Hong Kong Oct Inflation 1.7% Vs. 1.4% In September

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185952/

Turkey Consumer Confidence Decreases In November

Turkey's consumer confidence weakened in November, survey results from the Turkish Statistical Institute showed on Monday.

The consumer confidence index fell to 71.1 in November from 76.8 in October.

The survey was carried out in cooperation with the Turkish Statistical Institute and the Central Bank of the Republic of Turkey.

The assessment of the present financial situation of household fell to 56.1 in November from 60.7 in October.

The financial situation expectation of households decreased to 68.9 in November from 75.6 in the previous month.

The general economic situation expectation index declined to 68.2 in November from 74.2 in the prior month.

Assessment on spending money on durable goods index over next 12 months fell to 91.4 in November from 96.6 in October.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185951/

Sentiment Indicators: Using IG Client Sentiment

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*Taiwan Oct Jobless Rate 3.84% Vs. 3.92% In September

Taiwan Oct Jobless Rate 3.84% Vs. 3.92% In September

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185950/

*Taiwan October Export Orders Up 14.6% On Year

Taiwan October Export Orders Up 14.6% On Year

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185949/

U.S. Dollar Appreciates On Lockdown Concerns, Fed Tightening Expectations

The U.S. dollar was higher against its most major counterparts in the Asian session on Monday, amid safe-haven demand following rising coronavirus cases and curbs in Europe, as well as hopes for a faster tapering of the QE program amid strong economic recovery.

Austria imposed a full national lockdown and Germany warned of similar measures, after COVID-19 cases continued to surge in Europe.

Asian stocks are mostly lower, as investors worry that the virus and restrictions could derail the economic recovery.

Hawkish comments from Fed Vice Chairman Richard Clarida and Fed Governor Christopher Waller intensified hopes for an earlier tightening of monetary policy.

Clarida said on Friday that the economy is "in a very strong position" and a faster tapering of the QE program is on the cards.

Waller urged to accelerate the pace of the tapering in the wake of the rapid improvement in the labour market and the hot inflation data.

Investors also await U.S. durable goods orders, GDP data, personal consumption expenditure price index and Fed minutes due this week for more direction.

The greenback rose to 114.23 against the yen and 1.1265 against the euro, up from its prior lows of 113.91 and 1.1290, respectively. The greenback is seen finding resistance around 118.00 against the yen and 1.10 against the euro.

The greenback hit a 5-day high of 0.9304 against the franc, up from last week's close of 0.9286. The greenback is likely to challenge resistance around the 0.95 level.

In contrast, the greenback weakened to 1.2636 against the loonie, 0.7256 versus the aussie and 0.7013 against the kiwi, off its early highs of 1.2658 and 0.7228 and a 5-day high of 0.6983, respectively. Immediate support for the greenback is possibly seen around 1.24 against the loonie, 0.74 versus the aussie and 0.72 against the kiwi.

The greenback eased off to 1.3449 against the pound, from a high of 1.3427 hit at 10:30 pm ET. On the downside, 1.36 is possibly seen as its next support level.

Looking ahead, U.S. existing home sales for October will be published in the New York session.

At 10:00 am ET, Eurozone flash consumer sentiment index for November will be out.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185948/

EUR/USD Under Pressure amid German Lockdown Fears, Strong US Dollar

The Thanksgiving holiday may provide a slight reprieve for EUR/USD in a week that could see the currency drop towards 1.1200 depending on US data Via DailyFX - Market News https://ift.tt/32vveVH

British Pound (GBP) Outlook – EUR/GBP Clinging on to Multi-Month Support

EUR/GBP remains stuck at recent support and further losses remain on the cards. Via DailyFX - Market News https://ift.tt/32vveVH

Estonia Producer Prices Rise In October

Estonia's producer prices increased in October, data from Statistics Estonia showed on Monday.

The producer price index grew 9.0 percent year-on-year in October.

On a month-on-month basis, producer prices fell 0.1 percent in October.

"Compared to September, the index was affected the most by price decreases in the manufacture of wood and in electricity production," Eveli Sokman, leading analyst at Statistics Estonia, said.

Import prices rose 3.3 percent monthly in October and gained 22.3 percent from a year ago.

Export prices grew 2.4 percent monthly in October and increased 20.6 percent yearly.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185947/

*Denmark Nov Consumer Confidence -2.0 Vs. 3.3 In October

Denmark Nov Consumer Confidence -2.0 Vs. 3.3 In October

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185946/

*Turkey Nov Consumer Confidence 71.1 Vs. 76.8 In October

Turkey Nov Consumer Confidence 71.1 Vs. 76.8 In October

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185945/

Dutch Consumer Confidence Weakens In November

The Netherlands' consumer confidence weakened in November, data from the Central Bureau of Statistics showed on Monday.

The consumer confidence index fell to-19 in November from -10 in October. The score was below the 20-year average of -8 points.

Among components, the economic climate index decreased to -28 in November from -14 in October. The assessment of the future economic climate and consumers' opinion on the past economic situation were more negative.

The indicator for willingness to buy fell to -14 in November from -7 in the previous month.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185944/

*Estonia October Producer Prices Up 9.0% Y/Y, Down 0.1% M/M

Estonia October Producer Prices Up 9.0% Y/Y, Down 0.1% M/M

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185943/

*Dutch Nov Consumer Confidence -19 Vs. -10 In October

Dutch Nov Consumer Confidence -19 Vs. -10 In October

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source http://www.mt5.com/forex_news/quickview/2185942/

USD/ZAR Forecast: Dollar Bid As Risk Aversion Extends, Rand to Test 16.00?

EM’s including the rand extend last week’s losses as markets flock to safe-haven currencies in the wake of COVID-19 fears Via DailyFX - Market News https://ift.tt/32vveVH

China Keeps Loan Prime Rate Unchanged As Expected

China maintained its benchmark loan prime rates for the 19th consecutive month, as widely expected, on Monday.

The one-year loan prime rate was kept unchanged at 3.85 percent and the five-year LPR at 4.65 percent.

The one-year and five-year loan prime rates were last lowered in April 2020. The one-year loan prime rate was cut by 20 basis points and five-year rate by 10 basis points in April 2020.

The loan prime rate is fixed monthly based on the submission of 18 banks, though Beijing has influence over the rate-setting. This lending rate replaced the central bank's traditional benchmark lending rate in August 2019.

Markets expected LPR rates to remain on hold as the People's Bank of China had kept the rate on its medium-term lending facility unchanged early this month.

As economic strains continue to grow, there will be more pressure to relieve the financing strains of indebted borrowers, Julian Evans-Pritchard, an economist at Capital Economics, said.

And a cut to the five-year LPR, upon which mortgages are priced, would also help official efforts support housing demand, the economist noted. The PBOC is expected to start lowering policy rates (including the LPR) before the end of this year, followed by more reductions in 2022.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2185941/