XRPUSD, H4 | Bearish Momentum!

Type: Bearish ReversalKey Levels:Resistance: 1.03Pivot: 0.98Support: 0.88Preferred Case:Prices are on bearish momentum and consolidating in a parallel channel. We see potential for a dip from our Pivot at 23.6%, 50% and 127.2% Fibonacci extension towards our 1st support at 0.88 in line with 61.8% Fibonacci extension.Alternative Scenario:Alternatively, prices might climb higher towards our 1st resistance at 1.03 in line with 78.6% Fibonacci retracement.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/xrpusd-h4-or-bearish-momentum"
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AUDCHF, H4 | Short-term Bullish

Type: Bullish BounceKey Levels:Resistance: 0.66942Pivot: 0.66001Support: 0.65606Preferred Case:Price is reacting in between the ascending trendline support on the daily and descending trendline resistance on the H4, potentially forming a triangle pattern. We can expect price to make a bounce from the pivot level in line with 23.6% Fibonacci retracement towards 1st Resistance in line with graphical overlap, 50% Fibonacci retracement and 100% Fibonacci projection.Alternative Scenario:Alternatively, price could push further down to 1st support in line with ascending trendline support on the daily.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/audchf-h4-or-short-term-bullish"
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Dollar Up, Recovers from Omicron Shock but Volatility Remains

from Forex News https://www.investing.com/news/forex-news/dollar-up-recovers-from-omicron-shock-but-volatility-remains-2692267
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Currencies recover from Omicron chaos but analysts warn more volatility ahead

from Forex News https://www.investing.com/news/forex-news/currencies-recover-from-omicron-chaos-but-analysts-warn-more-volatility-ahead-2692226
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Key economic events and reports of the week ahead

The new strain of covid found in South Africa could disrupt plans by governments and central banks to rebuild economies. Financial markets are starting to price in possible new social and travel restrictions in asset prices and it is unlikely that there will be certainty about possible threats of the new strain in the next week. Consequently, sellers will continue to control the market situation and defensive assets will likely continue to rise next week.Fed Chairman Jeremy Powell will speak next Monday and Tuesday. Markets will closely monitor whether the head of the Fed speaks about the risks of a pandemic. If so, it should heighten investor attention to news related to the new strain.On Tuesday and Wednesday, attention should be paid to the PMI data for China in the manufacturing and services sectors. The state of affairs in Asia's largest economy will determine optimism about how long the expansion of the world economy, which is based on the rise of the Chinese economy, can last.On Wednesday and Friday, data on the US labor market will appear - the report of the ADP and Non-Farm Payrolls. Good rates of employment growth are likely to ensure an acceleration in the pace of reducing purchases of assets by the Fed, which was mentioned in the minutes of the Fed meeting in November. In this case, the dollar may open its second wind and its growth will continue. Among the large Central Banks, only the Fed is actively curtailing stimulus, which leads to a widening of the difference in interest rates between the United States and other countries.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/key-economic-events-and-reports-of-the-week-ahead-29-11-2021"
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Why Britain’s supermarket chains should take over Europe

Britain’s supermarkets should not sit back and wait for a takeover bid, says Matthew Lynn. They should launch their own for the continent’s chains.

from Moneyweek RSS Feed https://moneyweek.com/investments/stocks-and-shares/retail-stocks/604144/uk-supermarket-chains-takeover-bids-in-europe
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Analysis-In Japan, a weaker yen may not be the blessing it once was

from Forex News https://www.investing.com/news/economy/analysisin-japan-a-weaker-yen-may-not-be-the-blessing-it-once-was-2690534
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Investor start to flee equity funds

Equity funds saw an outflow of investor funds for the week ending November 24. This is the second weekly outflow in this year, according to BofA's weekly report released on Thursday, which may potentially indicate a shift in investor preferences of risk.In 2021, investors have poured more than $1 trillion in equities. This amount is bigger than in the last 19 years combined, BofA analysts say, citing EPFR data.The outflow of funds last week was triggered by the rise in bond yields and strengthening of US Dollar. Also signs of emerging risks related to new Covid strain could be a trigger of sales.Investors pulled out more about $3.9 billion from emerging market bond and equity funds – this is the biggest outflow since May 2020.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/investor-start-to-flee-equity-funds"
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The charts that matter: the US dollar keeps on strengthening

The US dollar saw further rises this week as gold and cryptocurrencies sold off. Here’s how that has affected the charts that matter most to the global economy.

from Moneyweek RSS Feed https://moneyweek.com/economy/604169/the-charts-that-matter-the-us-dollar-keeps-on-strengthening
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Rafal Brzoska: the “Locker King” seeking to conquer Britain

Polish entrepreneur Rafal Brzoska’s company almost drowned in debt before being rescued and refocusing on its big idea – automated postal boxes. He is relishing a scrap with Amazon to corner the market.

from Moneyweek RSS Feed https://moneyweek.com/economy/people/604158/rafal-brzoska-the-locker-king-seeking-to-conquer-britain
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Two outstandingly cheap UK stocks in an age of mad valuations

In these times of nutty company valuations, there is still plenty of opportunity around, says Merryn Somerset Webb. Take these two stocks, for example.

from Moneyweek RSS Feed https://moneyweek.com/investments/stockmarkets/uk-stockmarkets/604168/two-outstandingly-cheap-uk-stocks-in-an-age-of-mad
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Dollar's Dazzling Run to Come Unstuck Next Year as Growth Outside U.S. Rebounds

from Forex News https://www.investing.com/news/forex-news/dollars-dazzling-run-to-come-unstuck-next-year-as-growth-outside-us-rebounds-2689835
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Events to look out for next week

A new, “more mutated” and possibly more infectious covid variant out of South Africa weighed heavily on equities and boosted the demand for bonds on Friday, removing the feel good factor from strong US data earlier and the assumption the FED was tilting further into the hawkish camp with a possible faster taper and multiple rate hikes in 2022. A very cautious tone will likely prevail next week. Data will be topped by NFP on Friday and an expected continued tight jobs market.

Monday – 29 November 2021

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• German Preliminary CPI (EUR, all-day from GMT 07:00) – The German federal states will be releasing inflation data throughout the day and with a record leap for Import prices on Friday. last month the m/m there was 0.5% increase, 0.7% expected.
• Pending Home Sales (USD, GMT 15:00) –  New Home Sales cooled last Thursday recording a still strong 845K but well below the 801K expected. The pending homes sales number can be volatile as home buyers can drop from registrations without consequence. last month pending home sales fell -2.3%, -2.5% expected.

• Speeches – BOJ Gov Kuroda & Fed Chair Powell (JPY & USD, GMT 06:00 & 20:05) –  

Tuesday – 30 November 2021

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• Manufacturing & Non-Manufacturing PMIs (CNY, GMT 01:00) – Manufacturing PMI’s have been in contraction mode since September will a tick over 50 be seen today? Conversely, Non-Manufacturing PMIs have been in expansion for the last two months showing more resilience.
• CPI Flash Estimate y/y  (EUR, GMT 10:00) – Annualized EZ Inflation was running at 4.1% last month and with energy costs spiking this month the reading is expected to top 4.5%.
• Gross Domestic Product m/m (CAD, GMT 13:30) – a rise to 0.7% from 0.4% last month is expected and the annualized figure is expected to leap from a contraction of -1.1% to 2.5%.
• Fed Chair Powell Testifies (USD, GMT 15:00) Due to testify on the CARES Act before the Senate Banking Committee, in Washington DC.

Wednesday – 01 December 2021

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• Gross Domestic Product – Q3 (AUD, GMT 00:30) – The Australian economy was severely restricted during Q3 as lockdowns in Melbourne & wider Victoria persisted, and GDP sank to lows of 0.7% in September from 3.3% in December 2020. A further fall to 0.5% is expected.
• ADP Non-Farm Employment Change (USD, GMT 13:15) – Private payrolls have been very volatile i the last few months, 571K new jobs were registered last month and this month it is expected to have declined to 460K, however, there have been some big misses and beats for this key data point as the US economy moves forward.
• ISM Manufacturing PMI (USD, GMT 15:00) – This key data point from the ISM has been expanding steadily and a further rise is expected to 61.00 this month from 60.8 last time.
• Fed Chair Powell Testifies (USD, GMT 15:00) Second day of testimony on the CARES Act before the Senate Banking Committee, in Washington DC.

Thursday – 02 December 2021

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• OPEC-JMMC Meetings (ALL, GMT All Day)– Following the US led, coordinated release of millions of barrels of strategic reserves by 6 countries, this months OPEC meeting may have added spice. However it is likely that the cartel keep production at current levels resisting pressure from the White House and elsewhere to pump more crude.
• Weekly Claims (USD, GMT 13:30) Following last weeks 52-year low reading at only 199K this weeks number is eagerly awaited. Seasonality factors apart, the evidence of the tight US jobs market continues, a more economic cycle average is 250-60K.  

Friday – 03 December 2021

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• Non-Farm Employment Change (USD, GMT 13:30) – Expectations are for a 440k November nonfarm payroll increase, after gains of 531k in October, 312k in September, and 483k in August. The Unemployment rate is expected to hold steady at 4.6%, Annualized Earnings to increase again to 5.0% from 4.9% and the all important participation rate to struggle to move over 61.6%.
• Employment Change (CAD, GMT 13:30) Canada generated 31.2k news jobs last month, a miss of expectations of 42.0k and a huge decline from the 157.1k from October. The Unemployment rate is expected to hold at pandemic lows at 6.7%.
• ISM Non-Manufacturing PMI (USD, GMT 15:00) – This key data point from the ISM has been volatile recently and a decline this month is expected to, a still very healthy 65.7 from 66.7 last month.

Click here to access our Economic Calendar

Stuart Cowell

Head Market Analyst

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

from HF Analysis /290074/
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Cryptocurrency roundup: Black Friday crypto crash

Bitcoin fell to a six-week low today as wider markets sold off. Salon Sardana looks at the stories that caught our eye this week.

from Moneyweek RSS Feed https://moneyweek.com/investments/alternative-finance/bitcoin-crypto/604167/cryptocurrency-roundup-black-friday-cryptocurrency-crash
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