Key Takeaways:
- 💵 Dollar hit three-month highs against the yen amid Japan political uncertainty
- 📊 Chinese yuan remained weak amidst possibility of large new debt issuance by Beijing
- 🇺🇸 U.S. dollar strong with largest monthly rise in 2-1/2 years, supported by upcoming economic data
- 💱 Yen weakened following Japan’s election results, raising concerns of looser fiscal policy
- 📈 Pound firm ahead of UK budget announcement, focusing on fiscal measures and forecasts by OBR
- 💰 Euro slightly up against the dollar, while yuan weakened amidst China’s fiscal package approval plans
- 💥 EUR/JPY facing tough resistance and trading at the top limit of its range
- 📉 Chances of moving lower are higher towards the 154s
- 🐻 Confirmation of bearish phase if breaks below 161.91 and further support at 161.70
- 📉 Bearish targets at 158.32, 158.00, 157.50, and 157.00
- 💡 MACD shows bearish divergence indicating downside ahead
- 📈 Break above upper range confirms bullish trend extension
- 💶 Weakness of JPY and potential ECB rate cut may influence EUR/JPY movement
- 💻 Affiliate links on the website provide funding without increasing costs to users
- 🚨 Risk warning: CFD trading involves high risks and may lead to loss of capital
- 💡 TotalEnergies discovered a new gas condensate in the Danish North Sea
- 🌊 The discovery adds to the existing resources in the area
- 🔍 TotalEnergies plans to further appraise the discovery to assess its potential impact
- 🚢 The exploration well was drilled by TotalEnergies and its partners
- 💼 Date: November 15, 2024
- 📈 Analyst conference call at 8:00 am ET
- 🌍 Global shipping company in the crude oil and product tanker industry
Currency Markets and Finance News
In the currency markets, the U.S. dollar saw significant strength, hitting three-month highs against the Japanese yen. This rise was supported by upcoming economic data and the uncertainty surrounding Japan’s political landscape. On the other hand, the Chinese yuan remained weak due to the possibility of significant new debt issuance by Beijing.
Amidst all this, the pound remained firm ahead of the UK budget announcement, focusing on fiscal measures and forecasts by the Office for Budget Responsibility (OBR). The euro also showed slight gains against the dollar, while the yen weakened following Japan’s election results, leading to concerns about looser fiscal policy.
In the trading realm, EUR/JPY was facing tough resistance and trading near the top limit of its range. Analysts are watching for potential bearish movements, with targets set at various key levels. The MACD indicator showed bearish divergence, suggesting possible downside ahead.
It’s essential for traders to be aware of the risks involved in CFD trading, as it carries high risks that may lead to a loss of capital. Despite these risks, funding from affiliate links on websites can provide financial support without increasing costs for users.
On a different note, TotalEnergies made a significant discovery of a new gas condensate in the Danish North Sea. This discovery adds to the existing resources in the area, and the company plans to further appraise the findings to determine its potential impact. The exploration well was drilled by TotalEnergies and its partners, showcasing developments in the global shipping industry within the crude oil and product tanker sector.