On Tuesday, during the Asian session, Australia will release actual sales data and RBA Governor Bullock will participate in an event. Later, the German Gfk survey will be published. In the United States, data on house prices and consumer confidence will be published. Several Fed officials are scheduled to speak.
Here’s what you need to know on Tuesday, November 28:
In a quiet session, the Dollar Index lost 0.20% and posted its lowest daily close since late August, near 103.20. The trend remains bearish and the Dollar seems vulnerable. Treasury yields fell: the 2-year Treasury yield fell to 4.89% and the 10-year Treasury yield fell from 4.50% to 4.38%.
US new home sales unexpectedly fell 5.6% to 679,000, below the market consensus of 725,000. The House Price Index, S&P/Case-Shiller House Price Indices, Consumer Confidence and the Richmond Fed Manufacturing Index will be released in the United States on Tuesday. At the end of the week the underlying Personal Consumption Expenditure Index will be published. Fed officials Goolsbee, Waller, Bowman and Barr will speak Tuesday. The blocking period begins on Saturday.
The EUR/USD pair recorded its highest close in three months. As long as it holds above 1.0950, further upside looks likely and a test of 1.1000 is a matter of time. The German GfK survey will be published on Tuesday. In the region, attention is focused on inflation figures that will begin to be published on Tuesday.
GBP/USD rose for the third day in a row, breaking above 1.2600. The trend is bullish and the pair is looking for a new equilibrium level.
USD/JPY retreated after three days of calm trading, falling towards 148.50, affected by lower yields.
The AUD/USD pair surpassed 0.6600, reaching the highest levels since early August, and also surpassed the 200-day simple moving average (SMA). Reserve Bank of Australia Governor Bullock will take part in a panel discussion titled “Inflation, Financial Stability and Employment”. Retail sales data for October will be released.
USD/CAD remains below the 55-day SMA and appears positioned towards the 1.3600 area. Risks are tilted to the downside. Employment data will be published on Friday.
Gold rose strongly and traded above a key resistance zone at $2,010. Silver also rose, posting its highest daily close in weeks above $24.50.
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Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
