FOREX: BBDXY Back To Unchanged, AUDJPY The Main Mover In G10 FX
The BBDXY has recovered back to positive on the session. The index is currently at 1204.2 (+0.05%), ...
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EQUITY TECHS: E-MINI S&P: (Z5) |Holding On To Its Recent Gains
- RES 4: 6953.75 High Oct 30 and bull trigger
- RES 3: 6900.50 High Nov 12
- RES 2: 6852.56 76.4% retracement of the Oct 30 - Nov 21 bear leg
- RES 1: 6864.50 High Dec 1
- PRICE: 6856.75 @ 07:23 GMT Dec 3
- SUP 1: 6674.50/6525.00 Low Nov 25 / 21
- SUP 2: 6500.00 Round number support
- SUP 3: 6476.62 23.6% retracement of the Apr 7 - Oct 30 uptrend
- SUP 4: 6427.00 Low Sep 2
S&P E-Minis are holding on to their recent gains following the recovery from the Nov 21 low. The climb has resulted in a breach of the 20- and 50- day EMAs. This highlights a bullish development and the likely end of the corrective cycle between Oct 30 and Nov 21. A continuation higher would signal scope for a move towards the key resistance and bull trigger at 6953.75, the Oct 30 high. Key support lies at 6525.00, the Nov 21 low.
MNI: SWISS NOV CPI -0.2% M/M, +0.0% Y/Y
- MNI: SWISS NOV CPI -0.2% M/M, +0.0% Y/Y
- SWISS NOV CORE CPI +0.4% Y/Y
- SWISS NOV SERVICES CPI +1.0% Y/Y
- SWISS NOV GOODS CPI -1.6% Y/Y
- SWISS NOV DOMESTIC GOODS CPI +0.4% Y/Y
- SWISS NOV IMPORTED GOODS CPI -1.3% Y/Y
SWITZERLAND DATA: Swiss November CPI Surprises A Tenth To Downside
Swiss CPI inflation printed a tenth below consensus at 0.0% in November (vs 0.1% cons and prior), and -0.2% M/M (-0.1% cons). Core CPI was also a tenth below consensus, at 0.4% Y/Y (vs 0.5% cons and prior).
- This means Q4 average inflation to date prints below the SNB forecast. Despite this, a more material undershoot with repeated readings below 0% would likely be needed for the SNB to cut into negative territory.
- The main categories on first sight appear to indicate that downside came from housing inflation, while restaurants and hotels inflation also slowed. Key categories below (all Y/Y):
- Domestic 0.4% vs 0.5% prior
- Imported -1.3% vs -1.3% prior
- Services 1.0% vs 1.1% prior
- Goods -1.6% vs -1.6% prior
- Energy and fuels -4.8% vs -5.2% prior
- Housing rentals (quarterly update) 1.6% vs 1.9% prior
