good morning
Most important data
Consumer Price Index (MoM) (October) in America
US initial jobless claims
To note, today’s session will be a tough session for the markets with inflation data, so be cautious.
Market update
Asian shares weakened after U.S. stocks fell, halting a sharp decline that dampened risk appetite ahead of key inflation data expected on Thursday.
Shares in Japan, China and Australia fell. U.S. stock futures rose after the S&P 500 fell on Wednesday, ending a three-day advance. The dollar moved after Wednesday’s rally and bond yields fell in Australia and New Zealand, after…
October inflation data will provide clues to the path of Fed tightening. JPMorgan Chase & Co. analysts said the hot reading could send U.S. stocks down 6% in Thursday trading.
Oil traded flat after its worst day in nearly a month as U.S. inventories rose and the COVID-19 outbreak in China threatened growth.
A coin rose above $16,000 after falling by the biggest margin since March 2020 on Wednesday when Binance canceled plans to acquire potentially bankrupt exchange FTX.com. This action affected crypto-related companies across the region after similar declines in the United States.
Technical Analysis:
American
The return of selling pressure again on the index’s movement may reinforce the previous downtrend.
A break below the nearby support levels at 109.90 will strengthen the declines and open the door for prices to test 109.65 levels, otherwise the return of prices above the resistance level at 110.40 is considered to temporarily ease the selling pressure.
Resistance: 110.25_110.40_110.65
Support: 109.90_109.65_109.40
American:
Despite the recent declines seen by the pair, the prices still need to break below the support levels at 1.1370 and 1.1330 to confirm the continuation of the decline by breaching the nearby resistance levels at 1.1410.
This will affect the recent downtrend and enter the pair in a sideways movement.
Resistance: 1.1410_1.1440_1.1480
Supports 1.1370_1.1330_1.1300
:
The return to buy again will reinforce the previous bullish trend, the success of prices to breach the nearby resistance levels at 1717, which will improve the optimism case and push the way for prices to test 1724 levels.
Otherwise, the return of prices below the 1700 support level will temporarily reduce the intensity of optimism.
Resistance: 1717_1724_1730
Support: 1707_1700_1692
