Pre Loader

16.11.2021 Market Report

EURO/USD

Going into Tuesday’s European session, the EUR/USD is struggling to continue its recovery from a 16-month low. However, the quotation had slid to a new low since July 2020 the day before, before rebounding off 1.1359 in early Asia.

GBP/USD

In response to mainly favourable UK job data, the GBP/USD pair reset daily tops in the mid-1.3400s, but there was no follow-through buying.

USD/JPY

The USD/JPY pair built on the previous day’s positive move from the 113.75 area and gained some follow-through traction during the early part of the trading action on Tuesday, around 114.15-20.

AUD/USD

AUD/USD is being pressured as we progress through the Asian session as traders dial back their rate hike bets following comments from the Reserve Bank of Australia’s governor, Phillip Lowe. AUD/USD is giving back some territory around 0.7360 and 0.7368, the high for the day, but remains up around 0.20%. 

NZD/USD

During Asian hours on Tuesday, the NZD/USD pair continued to test the 0.7050 level. At press time, the kiwi was up 0.09 percent at 0.7041, with a high of 0.7052 and a low of 0.7034.

USD/CAD

After a two-day decline, USD/CAD bears took a respite during Tuesday’s Asian session, taking rounds to 1.2510.

USD/CHF 

USD/CHF gave up the previous day’s gains around 0.9240, and in early Tuesday it traded down 0.14%.   

CRUDE OIL

According to preliminary data from CME Group, open interest in crude oil futures markets decreased for the second session in a row on Monday, this time by about 4.4K contracts. Volume, on the other hand, continued to fall and fell by 125.7K contracts, extending the downturn.

GOLD

Gold is still trading above $1,860 per ounce. 

Any information provided therein are indicative and subjective to the technical analysis method or trading patterns used and the timing of their release. Those are provided as general market information and/or market commentary and/or the publication of market/factual data and should not be construed as containing personal and/or other investment recommendation, and/or to be Investment Advice or independent Investment Research. As such, the legal and regulatory requirements in relation to independent investment research do not apply to this material and it is not subject to any prohibition on dealing ahead of its dissemination. For the full Risk Disclaimer click here.