Ubaidahsan Americas FX information wrap 19 Nov: CAD strikes greater w/greater CPI. USD is combined.

• US broader indices shut greater. Dow industrial common strikes decrease.
• Nvidia to announce earnings after the shut tomorrow
• Crude oil futures settled at $69.39
• Bitcoin trades to a brand new all-time excessive
• Extra from KC Fed Pres. Schmid: Charges are nonetheless considerably restrictive
• KC Fed Pres. Schmid: Stays to be seen how far rates of interest could fall
• European shares shut decrease however off lows as geopolitical issues ease
• IAEA says Iran has agreed to cease producing close to bomb-grade uranium
• Trump is predicted to reward Lutnick with Commerce chief place (or is it a reward).
• Walmart shares at document. Feedback from main US retailer offers heartbeat of the buyer
• Atlanta Fed GDPNow for This fall as much as 2.6% versus 2.5% earlier
• What are the technicals driving the EURUSD , USDJPY and GBPUSD in buying and selling right now?
• US indicated it won’t reply to Russia’s nuclear doctrine transfer
• ECB’s Panetta: It isn’t blasphemy that charges might go beneath impartial ranges
• US housing begins for October 1 311M vs 1.330M estimate
• Canada CPI inflation for October Zero.Four% versus Zero.three% MoM
• What technical ranges are in play for the main FX pairs vs USD to begin the day (Nov 19)?
• Ubaidahsan European FX information wrap: Ukraine’s use of ATACMS missiles triggers some risk-off
• ECB’s Muller: I do not see a cause to maneuver in greater steps now

Markets:

• Gold up $21 or Zero.81% at $2632.71
• US 10-year yield Four.398%, -1.6 foundation factors
• US 2-year yield Four.284%, +Zero.1 foundation factors
• WTI crude oil up $Zero.08 at $69.26
• S&P 500 rose Zero.40%
• NASDAQ index rose 1.04%
• Russell 2000 rose Zero.80%

The US greenback was combined in buying and selling right now with the DXY index falling -Zero.09%. The USD had adjustments of Zero.09% or much less vs Four of seven main currencies. Versus the USD:

• EUR, +Zero.02%
• JPY +Zero.01%
• GBP, -Zero.04%
• CHF -Zero.07%

The USD fell vs the commoditiy currencies

• CAD -Zero.42%
• AUD -Zero.37%
• NZD -Zero.32%

The one financial information was US housing begins and constructing permits:

• Housing begins 1.311M vs 1.330M estimate. The annualized tempo was decrease than the revised 1.353M final month
• Constructing permits 1.416M vs 1.430M estimate. The annualized tempo was additionally decrease than the revised 1.428M final month.

Versus a yr in the past, housing begins are down -Four.Zero% whereas constructing permits are down by -7.7%. There may be not sufficient provide within the housing market and these numbers present that disparity.

Canada CPI got here in stronger than expectations with a achieve of Zero.Four% versus Zero.three% anticipated. The core rose Zero.three% versus Zero.1%.

The USDCAD moved decrease right now and within the course of moved again beneath 200 hour shifting common at 1.39789. On the similar degree was the excessive worth from 2022. Breaking beneath each these ranges tilts the short-term bias extra to the draw back. The swing excessive worth from August 2024 (which was the best degree earlier than breaking greater in November) is available in at 1.38458, a transfer beneath that degree within the new buying and selling day could be extra bearish.

A technical take a look at a number of the different main forex pairs versus US greenback because the day ends and the brand new day begins, reveals:

• USDJPY: The USDJPY moved decrease right now within the Asian session, discovering help close to the damaged 61.eight% retracement of the vary for the reason that July excessive. That degree is available in at 153.397. The low worth got here in at 153.27 earlier than snapping again greater. The value is at present buying and selling at 154.66 which takes a pair again right into a swing space between 154.54 and 155.40. Transferring above the excessive of that swing space could be extra bullish within the new buying and selling day. Staying beneath and rotation again to the draw back may sign a impartial market with consumers and sellers battling it out between short-term technical ranges.
• EURUSD:The EURUSD excessive worth yesterday stalled inside swing space resistance between 1.0592 and 1.06097. Value moved down sharply into the European session, however discovered help consumers in a one other swing space between 1.05158 and 1.05316. The following transfer to the upside has taken the worth again up towards the 1.06 degree at 1.0595 at present. Get above 1.06097 would enhance the bullish bias within the new buying and selling day and have merchants wanting towards 1.0650 adopted by 1.0665 – 1.0670 (lows from three weeks in June and July) . Conversely, stay beneath 1.0610, and merchants are battling between 1.0515 and 1.0610.
• GBPUSD: The GBPUSD discovered help consumers close to the excessive of a swing space between 1.2596 and 1.26137. The following transfer to the upside discovered resistance sellers close to the excessive of one other swing space as much as 1.26858. Just like the USDJPY and the EURUSD, the ups and downs are staying inside help resistance targets. Merchants will search for a break and momentum within the route of the break within the new buying and selling day.

Have a superb morning, day, night.

This text was written by Emma Wang at www.ubaidahsan.com.



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