This is what you need to know to trade today monday november 28:
The market sentiment deteriorates and investors steer clear of risk-sensitive assets at the start of the week as China reports a record number of coronavirus cases for the fifth day in a row. The US dollar is holding up after last week’s slide and US stock index futures are trading in negative territory in the European morning. will be published later survey of the manufacturing sector in texas of the Federal Reserve Bank of Dallas. The President of the European Central Bank (ECB), christine lagarde, will make an introductory statement at a hearing before the European Parliament’s Committee on Economic and Monetary Affairs (ECON) in Brussels. Finally, the president of the New York Fed, john williamswill speak at an event organized by the Economic Club of New York.
On Sunday, the National Health Commission of China reported 40,347 new COVID-19 infections. In the meantime, hundreds of protesters and police They clashed in Shanghai over the weekend as frustration erupted over the tight restrictions. The Shanghai Composite lost almost 1% and Hong Kong’s Hang Seng fell more than 1.5%.
In the meantime, Crude oil prices fell sharply at the start of the week amid worsening demand prospects and the barrel of West Texas Intermediate (WTI) fell to a new low in 2022, around $73.50. At time of writing, WTI is trading near $74.00, losing 3.5% on the day.
The EUR/USD posted its highest weekly close since late June at 1.0402, but has started the new week on the wrong foot. The pair is now moving into negative territory at 1.0380.
The GBP/USD remains in a modest downtrend in the early European morning and fluctuates below 1.2100. There will be no big-hitting macroeconomic data on the UK economic calendar on Monday.
The USD/JPY It is moving lower and trading below 138.00 for the first time in two weeks as the Japanese yen manages to find safe haven demand early on Monday. Earlier in the day, the Governor of the Bank of Japan, Haruhiko Kuroda, has stated that he expects wage pressure to gradually increaseas the labor market continues to tighten.
The price of Prayed fell as low as $1,745 during the Asian session on Monday, but erased much of its daily losses as the 10-year US Treasury yield fell to its lowest level since early October on the 3.62%. XAU/USD is now down 0.15% on the day, sitting at $1,752.
The Bitcoin it went up and down in a very tight range over the weekend but lost its traction early on Monday. At time of writing, BTC/USD is down more than 1% on the day, trading near $16,200. The ethereum it fell below $1,200 on Sunday and extended its decline towards $1,150 early on Monday.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
