The G20 summit took place in Bali, Indonesia, on November 2022…
What will move the market on December 6 - 10?
Information is not investment advice
The US dollar was rallying for a long time, driven by expectations for soon Fed tapering but then dropped because of the uncertainty over omicron. The appearance of the new virus variant shook the markets and led to a surge in demand in safe-haven currencies such as the Japanese yen and the Swiss franc. Besides, omicron raised concerns that the US central bank can delay a rate increase and add to the USD's fall. However, Fed Chair Powell signaled his intention to taper faster, and it supported the USD. Now, traders eagerly await the FOMC meeting on December 16. For now, EUR/USD is likely to continue trending down. The key support level is 1.1200. If it breaks it, it may fall to 1.1100.
S&P 500 has reversed up from 4500. If it manages to break above the resistance level of 4550, it may jump back to 4700. Pfizer and Moderna reacted first to the new Covid-19 variant, omicron. As a result, Pfizer rocketed to the record high while Moderna surged above $375 for the first time since October. The movements in the stock market highly depend on the omicron spread and vaccination progress.
Crude oil keeps falling. XBR/USD (Brent oil) dropped below $70 for the first time since August, while XTI/USD (WTI oil) fell below $65. Why? The US and other countries released millions of barrels from their reserves, and also the new coronavirus variant raised concerns over oil demand. If the current tendency remains, XTI/USD may drop to $62, XBR/USD – to $65.
The deafening news shocked the whole world yesterday: the British Queen Elizabeth II died peacefully at the age of 96…
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus