Fundamental Forecast November Week 4.5
1. USD bearish as a slowing US economy, with expectations for
reduced growth in various sectors. The moderation in price
pressures and inflation could support the view of an easing
economic environment, with key indicators signalling a
potential slowdown.
2. CNY neutral as economic support measures and efforts to
improve diplomatic ties might support the currency, while
geopolitical tensions and uncertainties in US-China relations
could counterbalance these positives, resulting in a mixed
outlook for the CNY.
3. JPY neutral as The combination of economic challenges
despite supportive policies might outweigh positive signals,
leading to a muted outlook for the JPY.
4. EUR bearish as the moderation in CPI might provide
temporary relief, concerns about persistent inflation, uncertain
monetary policy, budgetary challenges, and political
uncertainties contribute to a potentially negative outlook for
the Euro currency.
5. GBP bullish with reduced expectations of a rate cut and
substantial movements in UK rates and the sterling. This
change in market expectations contributed to the pound's
strengthening against the dollar.
6. CAD bearish while certain aspects suggest strength and
recovery, the employment losses and economic stagnation
signals might slightly weigh down the overall sentiment for the
Canadian dollar.
7. AUD bearish while certain economic indicators show strength,
the skepticism in rate hike expectations and the anticipated
moderation in CPI and retail sales could weigh down on the
AUD's bullish prospects.
Trade Ideas
Potential Buy
Potential Sell
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GBPUSD
EURGBP
Prior to entering any trades based
on fundamental opinions, we
recommend referring to the
corresponding technical levels for
confirmation.
GBPCAD
GBPAUD
Economic Events
Tue
Nov
28
11:18
am
11:00
pm
Wed
Nov
29
8:30a
m
9:00a
m
AUD
RBA Gov Bullock Speaks
USD
CB Consumer Confidence
AUD
CPI y/y
NZD
Official Cash Rate
NZD
10:00
am
All
Day
4:00p
m
9:30p
m
11:05
pm
Thu
Nov
30
9:30a
m
All
Day
9:30p
m
6
5.2
5.6
%
%
5.50
5.50
%
%
-0.1
0.0
%
%
3.7
3.5
%
%
5.0
4.9
%
%
49.6
49.5
0.1
0.0
%
%
Statement
RBNZ Rate Statement
NZD
RBNZ Press Conference
EUR
German Prelim CPI m/m
EUR
Spanish Flash CPI y/y
USD
Prelim GDP q/q
GBP
BOE Gov Bailey Speaks
CNY
Manufacturing PMI
CAD
102.
0
RBNZ Monetary Policy
NZD
All
101.
OPEC-JMMC Meetings
GDP m/m
Fri
Dec 1
9:30p
m
11:00
pm
USD
Core PCE Price Index m/m
USD
Unemployment Claims
CAD
Employment Change
CAD
Unemployment Rate
USD
ISM Manufacturing PMI
0.2
0.3
%
%
219
209
K
K
18.5
17.5
K
K
5.7
5.7
%
%
47.7
46.7