Daily Market Outlook, November 14, 2022

Daily Market Outlook, November 14, 2022 “Markets open the week on a slightly more cautious footing, comments from Fed member Waller cooled risk appetite as the Fed policymaker suggested that equity markets had over reacted to the inflation print as interest rates still had further to go to combat inflationary pressures. The outlier in Asian markets is seen in Chinese equities, which have opened the week with a positive tilt following announcements with respect to Covid restrictions and support for the ailing property sector. In the trading week ahead markets will be seeking further clarity on policy from major central banks, today's focus in the Eurozone will be on speeches from Nagel, Guindos, Centeno and Panetta, in the US it will be Fed speakers Williams and Brainard. The data slate is scant today, with September Industrial production the main focus in the Eurozone, with markets looking for a small gain of 0.7% month over month. In the UK markets eagerly await the much lauded Autumn statement, with the UK Chancellor Hunt making the media rounds over the weekend warning of ‘difficult decisions’ ahead in order to plug the fiscal holes in the national finances. For further insights into the fundaments and trading dynamics for the week ahead please review my Weekly Market Outlook video...”Overnight HeadlinesDollar Steadies As Fed Cautions On Inflation - RTRSFTX Collapse Being Scrutinised By Bahamas Authorities - RTRSEmboldened Xi Jinping Steps Back On To World Stage With G20 Summit - FTChina Dials Back Property Restrictions In Bid To Reverse Economic Slide - WSJChina’s Looser Covid Rules Face First Test With Surging Outbreak - BBGFed’s Waller Says There’s A ‘Ways To Go’ Before Rate Hikes Done - BBGFed Faces Tough Task Deciding When To Stop Raising Rates, Daly Warns - FTBiden Rallies Yoon, Kishida As North Korean Missile Threat Grows - BBGUS Tries To Enlist Allies In Assault On China’s Chip Industry - FTWhite House Official: Biden To Make Clear US Does Not Seek Conflict With China - RTRSSome Russia Sanctions Could Extend Beyond Ukraine War’s End, Yellen Says - WSJYellen Acknowledges ‘Spillovers’ From US Rates, Strong Dollar - BBGUS House Majority Undecided As Democrats Keep Senate Control - WSJDemocratic Congressional Leaders Vow To Address US Debt Limit - RTRSPelosi Urges Debt-Ceiling Vote In Lame-Duck Session To Avoid Risk - BBGIMF Chief Warns On US-China Rivalry, Calls Trump-Era Tariffs Counterproductive - RTRSTechnical & Trade ViewsSP500 Bias: Bullish Above Bearish Below 3945TechnicalsPrimary support is 3945Primary upside objective is 4120Next pattern confirmation, acceptance above 4050Failure below 3935 opens a test of 390020 Day VWAP bullish, 5 Day VWAP bullishEURUSD Bias: Bullish Above Bearish below 1.02501.0284 Target Achieved, New Pattern EmergingTechnicalsPrimary support is 1.0250Primary upside objective is 1.0466Next pattern confirmation, acceptance above 1.0350Failure below 1.02 opens a test of 1.009020 Day VWAP bullish, 5 Day VWAP bullishToday’s New York Cut Option Expiries: 1.0200 (483mln), 1.0300 (258mln), 1.0370 (361mln), 1.0390 (242mln) GBPUSD Bias: Bullish Above Bearish below 1.1660TechnicalsPrimary support is 1.1660Primary upside objective 1.20Next pattern confirmation, acceptance above 1.1865Failure below 1.1730 opens a test of 1.157020 Day VWAP bullish, 5 Day VWAP bullishToday’s New York Cut Option Expiries: 1.1715 (557mln)EUR/GBP: 0.8800 (475mln)USDJPY Bias: Bullish above Bearish Below 143.25139.26 Target Achieved, New Pattern EmergingTechnicalsPrimary resistance is 143.25Primary downside objective is 136Next pattern confirmation, acceptance below 138Acceptance above 142 opens a test of 143.1020 Day VWAP bearish, 5 Day VWAP bearishToday's New York Cut Option Expiries: USD/JPY: 140.00 (510mln)EUR/JPY: 146.00 (1.84bln) AUDUSD Bias: Bullish Above Bearish below .6550.6720 Target Achieved, New Pattern EmergingTechnicalsPrimary support is .6660Primary upside objective is .6760Next pattern confirmation, acceptance above .6700Failure below .6600 opens a test of .655020 Day VWAP bullish, 5 Day VWAP bullishToday’s New York Cut Option Expiries: N/ABTCUSD Bias: Intraday Bullish Above Bearish below 16800TechnicalsIntraday 157700 is primary supportPrimary upside objective is 18325Next pattern confirmation, acceptance above 17000Failure below 15500 opens a test of 1440020 Day VWAP bearish, 5 Day VWAP bearish

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