Abstract:At the end of the Asian market on Monday (November 13), Wells Fargo strategists wrote in a report: "Weak fiscal policy and weak economic performance have curbed the demand for US dollars and US treasury bond bonds.
At the end of the Asian market on Monday (November 13), Wells Fargo strategists wrote in a report: Weak fiscal policy and weak economic performance have curbed the demand for US dollars and US treasury bond bonds. Overseas investment in US treasury bond bonds has always been more unstable than domestic investment, partly because of the existence of more attractive global alternatives. According to the data released by the US Treasury Department last month, China reduced its holdings of US treasury bond bonds for the fifth consecutive month in August this year, and the size of its holdings fell to the lowest level since 2009. The US dollar index opened in the Asian market on Monday At the close of the Asian market, the US dollar index broke below the low formed last Friday and is currently quoted around 105.76.Gold has experienced a significant decline in recent times due to the weakening impact of geopolitical conflicts, but the geopolitical conflicts have not yet been resolved and there is a risk of continued escalation. Therefore, there is still support for the expected demand for gold. At the opening of the Asian market today, gold was broadly consolidated and is currently trading around 1937.91. Recently, US crude oil has been significantly affected by the fundamentals of oil producing countries, with the lowest US crude oil price reaching 74.92. Due to market concerns about the stability of US crude oil producing countries, US crude oil bottomed out and rebounded last Wednesday, with a current price of 76.42. Last week, EURUSD was affected by US dollar data and fundamental expectations, and overall it has been broadly consolidated downward. Today, the Asian market opened lower, with support around 1.0681 below, and the current quotation is around 1.0692. Former Governor of the Bank of Japan, Eiji Maeda, recently stated that if the Japanese economy can withstand the risks brought by overseas uncertainty, the Bank of Japan may end its negative interest rate policy as early as January next year and continue to raise interest rates thereafter. USDJPY continued to rise at the opening today and broke through the previous high resistance, with the current quotation around 1581.76.
MHMarkets strategy is only for reference and not for investment advice. Please carefully read the statement at the end of the text. The following strategy will be updated at 15:00 on November 13, Beijing time.
Gold XAUUSD· | |
Resistance | 1947.78 – 1960.87 – 1971.11 |
Support | 1933.16 – 1923.26 – 1919.20 |
Crude Oil USOUSD· | |
Resistance | 77.06 – 77.68 – 79.52 |
Support | 75.33 – 74.86 – 74.47 |
EURUSD· | |
Resistance | 1.0701 - 1.0725 - 1.0749 |
Support | 1.0658 - 1.0619 - 1.0591 |
GBPUSD· | |
Resistance | 1.2233 – 1.2294 – 1.2347 |
Support | 1.2185 - 1.2154 – 1.2095 |
Last Friday, the U.S. dollar index shocked downward in the U.S. plate once fell to 103.35 intraday low, and finally closed down 0.32% at 103.41. 10-year U.S. bond yields closed at 4.472%; on the Fed's policy rate is more sensitive to the two-year U.S. bond yields stabilized above the 4.9%, and finally closed at 4.955%.
In late trading on Friday (November 24) in Asia, due to the impact of the US Thanksgiving holiday, the recent market trading was flat. The US dollar index saw a slight consolidation yesterday, receiving support from below and rising, ultimately closing near the intraday high.
At the end of the Asian market on Thursday (November 23),Yesterday, the US released a series of economic data, data showed that the US new orders for durable goods in October was 279.4 billion dollars, up 5.4% month on month, significantly better than the market expectation of -3.2%, the number of US initial jobless claims last week was 209,000, lower than the market expectation of 225,000 and the previous week's revised 233,000, The US consumer confidence index came in at 61.3 in November, abov
On Wednesday, the dollar index rebounded from a 2-1/2-month low, possibly on the view that the U.S. labor market was not cooling as quickly as expected. I