EMERGING MARKETS: CEEMEA FX Price Signal Summary - USDZAR Support Remains Exposed
Dec-22 12:06
- A short-term bearish theme in USDZAR dominates for now. A recent sell-off resulted in a breach of a number of short-term supports and most recently, 18.1117, the Nov 15 low has been pierced. A continuation lower would signal scope for a move towards 7.9434, 76.4% of the Jul 27 - Oct 6 bull leg. Clearance of this level would expose 17.4193, the Jul 27 low. Initial resistance is at 18.6824, the 50-day EMA.
- The path of least resistance in USDTRY is unchanged and remains up as the USD continues to appreciate against TRY. Initial support lies at 28.9515, the 20-day EMA. 29.00 has been cleared, the break opens the 30.00 handle.
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USD: Fading earlier gains
Nov-22 12:02
- The Dollar pares some of it earlier gains, with Risk once again tilted to the upside, SEK and AUD have benefitted from the Risk On tone are are just up 0.11% respectively.
- GBP, CAD, CHF and the EUR are circa flat.
- NOK, Yen and Kiwi are still down, with the NOK the worst performer, after Oil gave back some of its earlier gains.
- WTI is still well within this week's range, albeit just through Yesterday's low.
US MBA: REFIS +2% SA; PURCH INDEX +4% SA THRU NOV 17 WK
Nov-22 12:00
- US MBA: REFIS +2% SA; PURCH INDEX +4% SA THRU NOV 17 WK
- US MBA: UNADJ PURCHASE INDEX -20% VS YEAR-EARLIER LEVEL
- US MBA: 30-YR CONFORMING MORTGAGE RATE 7.41% VS 7.61% PREV
MNI: US MBA: MARKET COMPOSITE +3.0% SA THRU NOV 17 WK
Nov-22 12:00
- MNI: US MBA: MARKET COMPOSITE +3.0% SA THRU NOV 17 WK
