<ul><li>Economic confidence 93.7 vs 93.5 expected</li><li>Prior 92.5; revised to 92.7</li><li>Industrial confidence -2.0 vs -0.5 expected</li><li>Prior -1.2</li><li>Services confidence 2.3 vs 2.0 expected</li><li>Prior 1.8; revised to 2.1</li></ul><p style=““ class=“text-align-justify“>That’s a slight improvement in euro area economic sentiment, which is a welcome development ahead of the winter. Slowing inflation pressures have certainly helped and if we do observe milder weather in the coming months, it will help with the optimism. That said, even with all of this, the outlook remains challenging with recession risks continuing to build.</p>

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

<p style=““ class=“text-align-justify“>The monthly reading shows a 0.3% decline in inflation and all of this matches up with what we have seen from the other state readings seen <a target=“_blank“ href=“https://www.forexlive.com/news/bavaria-november-cpi-109-vs-110-yy-prior-20221129/“ target=“_blank“>here</a>.</p>

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

<p style=““ class=“text-align-justify“>Equities are barely holding on to the optimism from earlier, owing to Chinese markets bouncing back on re-opening hopes today. European indices are a bit more mixed now with US futures seen trimming gains, now only up 9 points, or 0.23%, on the day.</p><p style=““ class=“text-align-justify“>Bonds are bid though, benefiting from softer Spanish and German inflation readings so far on the session. 10-year German bund yields are down 9.4 bps to 1.898% while 10-year Treasury yields are down 3.6 bps to 3.666% currently.</p><p style=““ class=“text-align-justify“>All of this is translating to a softer dollar on the balance of things, with the greenback losing ground after an impressive showing in US trading yesterday. <a target=“_blank“ href=“https://www.forexlive.com/news/month-end-model-points-to-usd-downside-but-other-factors-favour-usd-bounce-td-20221128/“ target=“_blank“>Month-end talk seems to be suggesting that dollar selling is the play</a>, and that is also a factor for consideration before we move over to December on Thursday.</p><p style=““ class=“text-align-justify“>EUR/USD is up 0.3% to 1.0368 but perhaps more crucially, the pair is now trading back under its 200-day moving average (blue line) at 1.0377 after yesterday’s fall upon nearing 1.0500:</p><p style=““ class=“text-align-justify“>USD/JPY is down by 0.6% to near 138.00 as yields look heavier so far today. However, sellers will need to do more work in order to crack below daily support at around 138.45 as well as 137.65 currently:</p><p style=““ class=“text-align-justify“>Meanwhile, GBP/USD continues to hold in between its key daily moving averages but is now also finding itself caught in between its 100 and 200-hour moving averages in a state of flux so far this week:</p><p style=““ class=“text-align-justify“>Elsewhere, AUD/USD is keeping higher by 1.1% today to 0.6725 and holding back above its 100-day moving average (red line) at 0.6685. That is a positive development but buyers are still largely struggling to break through resistance from the 61.8 Fib retracement level at 0.6767 in the bigger picture.</p>

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

<ul><li>Prior 66.79k</li><li>Net consumer credit £0.77 billion</li><li>Prior £0.75 billion</li></ul><p style=““ class=“text-align-justify“>Mortgage activity eases further with the effective’ interest rate on newly drawn mortgages seen increasing by 25 bps to 3.09% in October. Meanwhile, net borrowing of mortgage debt by individuals decreased from £5.9 billion to £4.0 billion on the month. As for consumer credit growth, the annual reading decreased slightly from 7.1% in September to 7.0% last month.</p>

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

<p>Nasdaq futures technical analysis video (2 and half minutes):</p><p>I like to look for a ’story‘ that a chart tells me (in my opinion) and also follow charts in hindsight to learn where those stories developed, where there were hints on the way, etc. For example, if there was a failed breakout up, bulls are trapped, and will be disappointed, which hints on more down. Or if a key level was almost tested but market is still indecisive or weak, that it will probably be retested again.Markets love to poke around and test various key levels, usually more than once.One should be careful when doing the above on timeframes that are too low, but doing that on a daily timeframe is fine, usually (there is never an ‚always‘ in this game, you gotta live with the doubt and uncertainty embedded into everything we see and whatever we decide to do).Last but not least, PRICE is the MOST IMPORTANT part of the story and right now, Nasdaq futures is dancing around 11700 which is a key level for the battle between bulls and bears. Once the US market opens, traders would benefit in seeing how the 1 hour candles close in relation to that price.As of now, for me, it seems that if 11700 is not going to be protected, so no hourly candle closing abouve 11750, for that matter, then 11570 area is next and I show why that story unfolded in my mind, within the technical analysis video that take 2 and half minutes to watch.Trade the Nasdaq at your own risk. Visit ForexLive.com technical analysis for additional views.<a target=“_blank“ href=“https://www.forexlive.com/technical-analysis“>https://www.forexlive.com/technical-analysis</a></p>

This article was written by Itai Levitan at forexlive.com.

<p>The forex week ahead. A look a the risk and bias defining levels for the week starting November.</p><p>The week ahead has as catalysts the US jobs report on Friday where the NFP is expected to add a less than trend 200K jobs. </p><p>Before that the Fed Chair Powell will be speaking at the Brookings Institute on Wednesday. </p><p>Those are two key events that are a prelude to the Fed decision later in the month.

In addition, to the key event and release preview, Greg Michalowski of Forexlive, also looks at the technicals that are driving the bias and risk levels for the major US currency pairs vs the US dollar.</p><ul><li>EURUSD (4:10)</li><li>USDJPY (9:14)</li><li>GBPUSD (13:37)</li><li>USDCHF (18:17)</li><li>USDCAD (20:00)</li><li>AUDUSD (21:40)</li><li>NZDUSD (24:20)</li></ul>

This article was written by Greg Michalowski at forexlive.com.

<ul><li><a target=“_blank“ href=“https://www.forexlive.com/news/us-stocks-close-mixed-dow-rises-sp-unchanged-nasdaq-falls-20221125/“>US stocks close mixed. Dow rises, S&P unchanged. NASDAQ falls</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/next-weeks-economic-highlights-highlighted-by-us-jobs-on-friday-20221125/“>Next week’s economic events and releases highlighted by US jobs on Friday</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/major-european-indices-in-the-day-with-modest-gains-20221125/“>Major European indices in the day with modest gains</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/technical-analysis/crude-oil-retraces-the-gains-for-the-day-20221125/“>Crude oil retraces the gains for the day</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/technical-analysis/the-usd-is-making-new-highs-in-early-ny-trading-what-are-the-charts-telling-us-20221125/“>The USD is making new highs in early NY trading. What are the charts telling us?</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/technical-analysis/the-usd-is-the-strongest-and-the-jpy-is-the-weakest-as-the-na-session-begins-20221125/“>The USD is the strongest and the JPY is the weakest as the NA session begins</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/forexlive-european-fx-news-wrap-thanksgiving-hangover-20221125/“>ForexLive European FX news wrap: Thanksgiving hangover</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/german-yield-curve-in-deepest-inversion-in-three-decades-as-recession-fears-grow-20221125/“>German yield curve in deepest inversion in three decades as recession fears grow</a></li></ul><p>With the US traders returning from the Thanksgiving Day holiday for an abbreviated session and the World Cup going on, the day was set up to be somewhat limited.</p><p>The USD did move higher in early NA trading. However, as debt market rates ticked higher partly in reaction to a move higher in European rates so sent the greenback even higher. The German 10 year moved up about 12 basis points on the day. Spain moved up 15 bps, and France up 13.7 bps. </p><p>The US rate move was less, however, and then rates started to come back down. Lo and behold the EURUSD moved higher. </p><p>Technically, the run back to the upside was helped by a bounce off the near converged 100/200 hour MAs near 1.0359 (the low reached 1.0360). The move off the low was able to extend back above the 200 day MA at 1.03877, and is looking to close above that key moving average, giving the pair a positive, bullish bias into the new trading week (on Monday). The price is trading at 1.1402. </p><p>For other pairs, the greenback moved a bit lower in the NY session, but held onto to most of the NY early gains. Apart from the EURUSD where the dollar rose by a small 0.06%, the gains were the other currencies were between 0.21% to 0.38%. The dollar rose the most against the NZD at 0.38%. </p><p>In other markets, US stocks closed mixed with the S&P snapping 2 day moves higher. The Dow rose however led by Boing (up 3.53%), Home Depot (up 1.66% and UnitedHealth (up 1.51%). </p><ul><li>Spot gold is near unchanged at $1753.50. </li><li>Silver is down -$0.07 at $21.42</li><li>Crude oil is back below $77.00 at $76.53</li><li>Bitcoin is little changed from $16500 near the open of US hours at $16472.</li></ul><p>Thank you for your support. Hope you have a great weekend. </p>

This article was written by Greg Michalowski at forexlive.com.

<p>The major US stock indices are closing the session with mixed results today:</p><ul><li>Dow industrial average rose 152.95 points or 0.45% at 34347.04</li><li>S&P index fell -1.16 points or -0.03% at 4026.11</li><li>NASDAQ index fell -58.97 points or -0.52% at 11226.35</li><li>Russell 2000 rose 5.67 points or 0.30% at 1869.19</li></ul><p>For the trading week, the major indices are higher:</p><ul><li>Dow industrial average rose 1.78%</li><li>S&P index rose 1.53%</li><li>NASDAQ index rose 0.72%</li><li>Russell 2000 rose 1.05%</li></ul>

This article was written by Greg Michalowski at forexlive.com.

<p>What are the key events and releases for next week’s trading:</p><p>Tuesday, November 29:</p><ul><li>Canada GDP 8:30 AM ET. Estimate 0.2% versus 0.1% last month</li><li>US consumer confidence 10 AM ET. Estimate 100.0 versus 102.5 last month</li></ul><p>Wednesday, November 30:</p><ul><li>US ADP nonfarm employment change estimate, 8:15 AM ET. Estimate 195K versus 239K last month</li><li>US preliminary GDP for Q3. 8:30 AM ET. Estimate 2.7% versus 2.6% flash</li><li>US JOLTs job openings. 10 AM ET. Estimate 10.33M versus 10.72M last month</li><li>Fed chair Powell speaks at the Brookings institute. 1:30 PM ET</li></ul><p>Thursday, December 1</p><ul><li>Swiss the CPI month-to-month, 2:30 AM ET. Estimate 0.2% versus 0.1% last</li><li>OPEC meeting all day</li><li>US core PC price index, 8:30 AM ET estimate 0.3% versus 015% last</li><li>US ISM manufacturing PMI. Estimate 49.8 versus 50.2 last</li></ul><p>Friday, December 2</p><ul><li>RBA Gov. low speaks, 9:40 PM ET Thursday</li><li>RBNZ Gov. or speaks, 11:30 PM ET Thursday</li><li>US nonfarm payroll, 8:30 AM ET. Estimate 200K versus 261K last month</li><li>US unemployment rate, 8:30 AM ET. Estimate 3.7% versus 3.7% last month</li><li>US hourly <a target=“_blank“ href=“https://www.forexlive.com/terms/e/earnings/“ target=“_blank“ id=“cd852b85-3a1d-45ed-8691-cef64b568bed_1″ class=“terms__main-term“>earnings</a>, 8:30 AM ET. Estimate 0.3% versus 0.4% last month</li><li>Canada employment change, 8:30 AM ET. Last month 108.3 K</li><li>Canada unemployment rate, 8:30 AM ET. Last month 5.2%</li></ul>

This article was written by Greg Michalowski at forexlive.com.