The Chinese Yuan fell almost 1% against the US Dollar as traders weigh new Covid lockdowns following downbeat PMI figures. The RBA rate decision is in focus for APAC traders.
The price of oil may attempt to retrace the decline from the October high ($93.48) as it seems to be no longer responding to the negative slope in the 50-Day SMA ($86.44).
The Federal Reserve delivered the fourth consecutive 75 basis point hike at its November meeting, bringing the policy rate to a range of 3.75-4.00%, in line with market expectations.
FTSE 100 remains under pressure as investors look for clues on when rate hikes might ease. As UK stocks struggle to gain traction, psychological resistance firms.
South Africa’s major stock index, SA40 continues to move higher despite heightened geopolitical risks and a resilient Dollar. Can the South Africa Top 40 index rise above 62000?
The pair has retreated further from parity to retest last week’s trendline break. Will the FOMC meeting give the pair some much needed direction?
The yellow metal has seen relentless pressure this year as interest rates have risen, but hopes for, perhaps, a pause, have lent some support.
This week’s big event, the latest Federal Reserve rate decision, is upon us and the US dollar is prepared for a move.
Brent crude oil pushed higher after several fundamental catalysts provided upside support ahead of FOMC later this evening.
The US Dollar is climbing after completing a double top formation last week, and focus shifts to the Fed’s Wednesday rate decision as markets try to see what’s around the next corner.
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