<ul><li>Prior -4</li></ul><p style=““ class=“text-align-justify“>UK industrial orders weakened a little in November as the monthly order books balance fell to -5, though still just above the long-run average of -13. The outlook also continues to remain gloomy as manufacturers remain less confident about the situation in the coming months.</p>

This article was written by Justin Low at forexlive.com.

<p class=“MsoNormal“>Bitcoin is adding 1.2% over the past 24 hours to $16.7K by the start of trading on Thursday. Ethereum is rising more briskly, gaining 4.3% to $1200. Crypto market capitalisation rose 2% to $837B, rebounding from the latest setback at the start of this week.</p><p class=“MsoNormal“>On the short-term charts, Bitcoin has formed an inverted head-and-shoulders pattern, suggesting an upside potential growth to $17.8K, as suggested by classic targets for this figure. </p><p class=“MsoNormal“>In turn, this would be a move out of consolidation in almost two weeks, which could further boost buyers‘ optimism.</p><p class=“MsoNormal“>Taking a step back to the larger timeframes, however, strength remains on the bears’ side as the former cryptocurrency trades below previous consolidation levels at $18.0K.</p><p>News background</p><p class=“MsoNormal“>According to Coinbase research, many investors are increasing the number of coins in their wallets despite the decline in the crypto market. Over the past year, 62% of institutional investors surveyed have increased their investments.</p><p class=“MsoNormal“>According to a Harvard University study, central banks in sanctioned countries could use bitcoin, as well as gold, as a risk hedge. Diversifying central bank reserves could eventually boost the value of cryptocurrency and gold.</p><p class=“MsoNormal“>Elizabeth Warren, a US Senate Banking Committee member, also called for stronger regulation of the cryptocurrency industry in her article for The Wall Street Journal. She said the Sam Bankman-Fried empire incident is a „wake-up call“ for the authorities.</p><p class=“MsoNormal“>New York state authorities have imposed a two-year ban on the non-environmental mining of cryptocurrencies on the Proof-of-Work (PoW) algorithm.</p><p class=“MsoNormal“>This article was written by <a target=“_blank“ href=“https://www.fxpro.com/“ target=“_blank“ class=“article-link“>FxPro</a>’s Senior Market Analyst Alex
Kuptsikevich.</p>

This article was written by ForexLive at forexlive.com.

<ul><li>Everyone acknowledges that we need a rate hike next month</li><li>Would not rule anything out right now</li></ul><p style=““ class=“text-align-justify“>They are certainly playing it coy and there’s still a debate on whether they will hike by 50 bps or 75 bps. There is talk doing the rounds though that an ECB insider is claiming that he/she is „almost sure“ that the December decision will be a 50 bps move (h/t @ LiveSquawk). That might be what has just weighed on the euro slightly from 1.0420 to 1.0395 currently.</p>

This article was written by Justin Low at forexlive.com.

<p style=““ class=“text-align-justify“>The <a target=“_blank“ href=“https://www.forexlive.com/centralbank/fomc-meeting-minutes-from-the-november-2022-fed-meeting-20221123/“ target=“_blank“>Fed minutes yesterday</a> outlined more of the same from the FOMC meeting statement roughly three weeks ago, that is the central bank is starting to look to consider a slower pace of rate hikes moving forward. That is enough to keep broader market sentiment more upbeat yesterday and weighed on the dollar as well.</p><p style=““ class=“text-align-justify“>The mood is carrying over to today with bonds staying more bid so far in Europe. Trading in Treasuries may be closed but looking to regional bonds, we can see 10-year German bund yields being down by over 9 bps currently to its lowest levels in seven weeks:</p><p style=““ class=“text-align-justify“>In turn, that is continuing to weigh on the mood in USD/JPY as the pair falls to fresh lows on the day of 138.10. The pressure continues to stay on the dollar as such, with the greenback now holding slightly lower across the board as well. But USD/JPY is the big mover so far today, down over 1% at the moment as sellers look to try and test the support levels outlined <a target=“_blank“ href=“https://www.forexlive.com/news/usdjpy-holds-lower-in-thin-trading-so-far-today-20221124/“ target=“_blank“>here</a>.</p>

This article was written by Justin Low at forexlive.com.