EURUSD is close to breaking the golden resistance

The EURUSD pair is pushing towards resistance 1 around the prices of 1.0880 - 1.0950 after breaking the ascending price channel.

If it continues to rise and breaks the resistance, it may head to the next resistance at 1.1200 to 1.1270

Market Moving Headlines

🇳🇿New Zealand Posts Smallest Annual Trade Deficit Since December

💥Hamas Chief Says Close To ‘Truce’ Amid Hostage Negotiations

🇦🇺RBA: November Hike Was Needed To Avoid Risk Of Larger Future Hikes

🇺🇸Fed’s Barkin Says ‘Job’s Not Done’ on Bringing Inflation Down

🇪🇺ECB’s Villeroy: Rates To Stay Unchanged For Next Few Quarters

🏴󠁧󠁢󠁥󠁮󠁧󠁿BoE’s Bailey: ‘Far Too Early’ To Propose UK Interest Rate Cuts

🇬🇧UK PM Sunak Pins Political Hopes On Thatcherite Tax-Cutting Package

🇨🇳China’s Yuan Rises Above PBoC’s Fix For First Time Since July

🇺🇸Dollar Nurses Losses As US Rates Seen Peaking

📈Nasdaq 100 Hits Highest in Nearly Two Years After November Surge

🤖OpenAI Investors, Led By Thrive, Angle To Bring Back Altman

Oil breaks the downtrend

USOIL is trading steadily above the broken downtrend around $77 to $78 prices. Although the Stochastic indicator is in the overbought zone. But it seems that USOIL is waiting for an important event or the next OPEC meeting in order to take a clear direction.

Do you think USOIL will go up or fall below the trend again?

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Market Moving Updates: Euro Trading Session

🇨🇳China Industrial Profit Growth Eases As Deflation Persists

🇨🇳Chinese Authorities Move On Asset Manager Zhongzhi After Defaults

🇨🇳China Says Multiple Pathogens Are Behind Spike In Respiratory Illnesses

🇯🇵Japan’s Corp Service Inflation Climbs In Sign Of Broadening Price Pressures

🇯🇵Japan To Expand Tax Breaks On Stock Options - Nikkei

🇳🇿NZIER Shadow Board Recommends RBNZ Keeps OCR At 5.5% This Week

🇦🇺Australia To Introduce Legislation To Reform, Modernize RBA

🇬🇧Sunak Says Claims UK Heading For Austerity ‘Simply Unfounded’

🇬🇧Sterling Steady, Dollar Wobbles As Markets Brace For Post-Thanksgiving Buzz

🇺🇸JGB Yields Track US Peers Higher Ahead Of Bond Auctions, US Inflation Data

🛢Oil Steadies After Three-Day Drop Ahead Of Postponed OPEC+ Meet

🥇Gold Steadies As US Bond Auctions Set To Give Clues On Yields

🇨🇳China Stocks Fall, Leading Losses In Asia On Fragile Sentiment

Bond Market’s Dramatic Recovery Is Seen As Opening Act For Broader Revival

The world’s biggest bond market has clawed its way back after spending chunks of 2023 underwater. Now many US debt watchers see the pathway clearing for a real revival.

The Bloomberg US Treasury Index shifted earlier this month to a positive return for the year as signs of slowing inflation and measured jobs growth unleashed a rally that sent benchmark yields tumbling from their highest in more than a decade. There have been some reversals along the way — including a mild climb in yields at the end of the holiday-shortened week — but the index is still about where it was at the start of the year and the overarching tone is constructive. Bloomberg

Investors See Interest-Rate Cuts Coming Soon, Recession Or Not

Wall Street is gearing up for rate cuts.Twenty months after the Federal Reserve began a historic campaign against inflation, investors now believe there is a much greater chance that the central bank will cut rates in just four months than raise them again in the foreseeable future.

Interest-rate futures indicated Monday a 52% chance the Fed will lower rates by at least a quarter-of-a-percentage point by its May 2024 policy meeting, up from 29% at the end of October, according to CME Group data. The same data pointed to four cuts by the end of the year. WSJ