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15.11.2021 Market Report


At 1.1420, the EUR/USD has hit a four-month low. On Monday, the pair appeared to have entered a consolidation period above 1.1450, but Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, believes the EUR/USD will resume its decline towards the 1.1366 mark.


During Asian hours on Monday, the GBP/USD pair was trading at 1.3430, extending last week’s gains as investors seek for evidence of a Bank of England (BOE) rate hike.


Throughout the Asian session, the USD/JPY pair seesawed between modest gains and slight losses below the 114.00 line, displaying no clear directional bias. The dollar was pulled down by Friday’s poor US data and falling US bond yields, which restricted advances. The JPY has been weakened by a number of factors, which has limited the pair’s downside potential.


The Australian dollar is trading near 0.7345, up 0.13 percent on the day ahead of the European session on Monday. Despite this, the Australian pair remains above the 100-HMA, maintaining the previous day’s recovery from the monthly low.


On Monday, the New Zealand dollar regained its losses from the previous week, trading around 0.7050, after optimistic Chinese economic data surprised investors. The pair is currently trading at 0.7050, up 0.04 percent, after swinging between lows of 0.7032 and highs of 0.7051.


During Monday’s Asian session, the USD/CAD seesaws around 1.2550, following a U-turn from the monthly high.


According to the most recent data from Reuters, the one-month risk reversal (RR) of USD/CHF, a barometer of calls versus puts, eased to +0.1000 for the week ending November 12.


Traders increased their open interest holdings for the second consecutive session on Friday, according to CME Group’s flash data for crude oil futures markets. Instead, volume fell for the third day in a row, this time by about 108.6K contracts.


On a sustained break above the June 16 highs of $1,869, gold price remained on course for further gains. The next substantial barrier is seen at the $1,878 highs from June 14, followed by the psychological level of $1,900. On the downside, the $1,850 demand region will be tested first, with the next stop for gold sellers being Friday’s low of $1,845.

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