Markets Week Ahead: Nasdaq 100, US Dollar, GBP, Brexit, Fed, Treasury, Thanksgiving

Global equity markets struggled to amass suggestive upside movement notwithstanding what has been certain Covid vaccine news from Pfizer and Moderna. The former rigourously filed a vaccine for puncture use authorisation with a FDA. Simultaneously, coronavirus cases in a US climbed, attack new annals alongside hospitalization rates.

On Wall Street, a tech-heavy Nasdaq Composite outperformed, though gains were really medium this past week. The US Dollar mislaid belligerent to many vital currencies as longer-dated Treasury yields declined. The latter speaks to vanishing certainty in a medium-term expansion outlook. Crude oil prices outperformed on rising bets that OPEC+ will check lifting outlay in 2021.

Building Confidence in Trading
Building Confidence in Trading

Investors were also thrown off ensure by a quarrel between a Treasury and Federal Reserve over new supports from puncture lending comforts determined from a CARES Act. The former wants a latter to lapse some of them behind to a department. Treasury Secretary Steven Mnuchin wants these redirected. This is as Congress struggles to pass another mercantile package amid gridlock.

Meanwhile, a British Pound carefully rose as a EU and UK seemed to in. closer to a Brexit deal. Reports crossed a wires that an agreement could maybe be reached within 2 weeks. Ahead, investors are eyeing FOMC mins with expectations for some-more item purchases brewing before December’s financial process announcement.

ECB mins are also on daub for a Euro, as good as German and Euro-Area consumer confidence. The US will recover Conference Board Consumer Confidence, that might decrease given a new swell in Covid cases. Expect lower-than-usual liquidity conditions with US markets offline on Thursday for a Thanksgiving holiday. What else is in store for markets ahead?

Introduction to Forex News Trading
Introduction to Forex News Trading

Fundamental Forecasts:

Japanese Yen May Rise With Covid Lockdowns Threatening Nikkei 225 Outlook

Japanese Yen movement might reason forward amid rising Covid-19 cases locally and abroad, melancholy a tellurian expansion outlook. USD/JPY appears to be following bond produce spreads again.

Gold Price Outlook: XAU/USD Still Primed for Higher Ground

Gold prices fell for a second uninterrupted week as acceleration expectations eased after a U.S. domestic shift. A brawl between a Federal Reserve and Treasury is boosting bullion prices, will movement pickup?

Sterling (GBP) Outlook Mired by Brexit’s Own Groundhog Day

The EU and UK continue their post-Brexit trade talks, stressing that a understanding is within reach, though conjunction side is prepared to pierce to get a understanding over a line. Again.

Euro Forecast: EUR/USD Outlook Worsens After EU Recovery Fund Vetoed

With a markets focused on coronavirus vaccines, it was easy to skip news final week that Poland and Hungary have blocked a EU’s liberation fund; another intensity disastrous for a Euro.

US Dollar May Rise as FOMC Minutes Flag Fed Policy Standstill

The US Dollar might arise as mins from November’s FOMC assembly concrete a Fed in wait-and-see mode, cooling risk ardour even as a produce opinion turns some-more supportive.

SP 500 Weighed by Stimulus Uncertainty Amid Virus Resurgence

The SP 500 index might lift behind serve due to a miss of impulse clarity amid fast climbing Covid-19 cases. IMF embellished an disproportionate liberation outlook, with some-more process movement needed.

Crude Oil Price Outlook Volatile as Covid Clashes with Vaccine Hope

Crude oil cost sensitivity looks set to dawdle as opinion for a commodity closely tied to GDP expansion stays dark by near-term downside risks undermining COVID-19 vaccine optimism.

Technical Forecasts:

Mexican Peso Technical Forecast: Will Critical Support be Broken?

USD/MXN looks set to replenish downside movement in a new try to mangle a vicious support level

Australian Dollar Forecast: Aussie Rally Testing Key Breakout Levels

Australian Dollar is probing multi-year downtrend resistance- Aussie dermatitis ahead? These are a levels that matter on a AUD/USD weekly technical chart.

Pound Technical Outlook – GBP/USD In Slow Grind Mode, Big Resistance Ahead

Cable continues to arise within a proportions of a channel, though has a unbending exam forward with long-term insurgency looming.

Dow Jones, DAX 30, FTSE 100 Forecasts for a Week Ahead

After surging to uninformed all-time highs progressing this month, bonds have slipped into converging mode as they rebound between technical levels forward of a subsequent vital moves. Here are a levels to watch.

Gold Weekly Technical Forecast: Gold Coiling for Break-Out

Gold severe operation lows amid a yank of fight between vaccine confidence and pathogen concerns.

US DOLLAR WEEKLY PERFORMANCE AGAINST CURRENCIES AND GOLD

US Dollar vs Currencies draft