Personal opinions today:

With the U.S. Thanksgiving holiday over, overall Thanksgiving Day retail sales growth and the market is expected to generate earnings gains for companies, which could lift Dow futures and bearish gold and silver prices. The dollar index is expected to be bullish, bearish for European and commodity currencies.

The final PMI readings for November in Europe and the United States were released today. Were it not for strong growth in the final manufacturing PMI for Germany and the Eurozone in November, the market would have been bullish on the dollar through the Markit and ISM manufacturing PMI for the U.S. in November. The dollar index is expected to be strong ahead of the results, bearish for European and commodity currencies, and bearish for gold. But crude oil prices are expected to rise.

[Important financial data and events] note: * is important

15:30 Swiss real retail sales for October **

16:55 Germany final manufacturing PMI  ***

17:00 Eurozone manufacturing PMI final **

17:30 UK manufacturing PMI ***

22:00 ECB President Christine Lagarde speech ***

22:45 U.S. Markit manufacturing PMI ***

23:00 U.S. ISM manufacturing PMI **

EURUSD

1.1025/1. 1035 resistance

1.0990/1.0980 support

Market expectations for the Eurozone economic data not growth, bearish the Euro, failing to test 1.1025 resistance against the dollar. If the data is weak, the Euro could technically check 1.0980 support against the dollar. If further breakthrough support, it will test 1.0955 crucial support.

British Pound to the dollar

1.2930/1.2940 resistance

1.2875/1.2865 support

The British pound was boosted by a poll that predicted the conservative party, the next leader of the house of Commons, would win a larger scale of seats and become the significant party that could lead Britain to a smooth Brexit. But U.K. economic data failed to grow in time for fears that the Bank of England would ease monetary policy first. In addition to limiting the pound upward, which is more likely to affect the pound's decline.

Australian dollar to dollar

0.6795/0.6805 resistance

0.6755/0.6745 support

RBA will have the opportunity to cut rates further tomorrow, which is bearish for the Australian dollar. Although the rate cut opportunity rate is not high, before the RBA rate decision, we believe the Australian dollar will remain downward. If the RBA does not signal a rate cut tomorrow, the Australian dollar could have a chance to rebound against the U.S. dollar. More good news on US and China trade talks. Technically, AUDUSD is expected to test the 0.6805 resistance. In the short term, the Australian dollar is eyeing 0.6745 U.S. dollar support ahead of RBA monetary decision tomorrow.

 

Dollar to Japanese yen

109.90/110.00 resistance

109.40/109.30 support

Dow futures and the Nikkei index rose, and the dollar broke through 109.60 resistance as the U.S. thanksgiving sales volume increased. Also, the market is focused on the US manufacturing PMI growth forecast for November, bullish equity markets, and bullish Japanese yen. Technically, there's an opportunity to test 110 resistance. However, if the dollar falls after the date, the dollar index will adjust to watching the target support at 109.40 or 109.30.

USDCAD

1.3310/1.3320 resistance

1.3275/1.3265 support

Markets are looking ahead US and Canada trade deal; the uncertainty deal is bearish for the Canadian dollar. If the agreement is announced and succeed, the Canadian dollar is expected to stronger. Technically, USDCAD is testing the 1.3320 resistance. A rebound in crude prices above $57 and above $58.50 could boost the Canadian dollar. USDCAD tests support at 1.3265 or below.

US crude oil futures

58.50/59.05 resistance

55.75/55.55 support

The U.S. Thanksgiving holiday consumption stronger than last year, retail sales growth, could bullish the price of crude oil. In the short term, the market is waiting for information about the production cut agreement between OPEC and other crude oil producers. Technically, if crude oil prices break out watch 57.05, expect to test 58.50 or 59.05 resistance.

Gold

1463/1465 resistance

1454/1452 support

Remember the Fed Beige Book report on U.S. economic growth last week lowered expectations for a rate cut. The governing conservative party is expected to win mid-Dec elections for seats in the House of Commons and lead the parliament by a certain percentage, according to a poll. Brexit expected to success next year. At present preliminary assessment, is the bearish gold price opportunity higher. Only the United States and international trade negotiations, the tariff policy brought worries, part of the factors to gold. It is recommended to keep an eye on global factors that may cause volatility to gold prices. Preliminary estimates of 1463 and 1465 resistance indicate short-term resistance. Gold prices fall when Dow futures rise.

U.S. Dow Jones industrial average futures US30

28215/28305 resistance

28075/27985 support

U.S. Thanksgiving holiday retail sales stronger than last year, the Dow futures rose, is expected to gain, the Dow futures in 28215 or 28305 resistance. But there are concerns in the U.S. and international trade talks that the rally will be blocked and reversed. Technically, pay attention to 27985 support in a short - term. If the support bit is broken, it may further test 27795 support to 27680 support.

BTCUSD:

7750/ 7885 resistance

7050/ 6850 support

The cryptocurrency demand decline, bearish Bitcoin price. Technical, the bitcoin price under US7885, keeps to looking at the trends go down. If any reasons let Dow future fell, bullish cryptocurrency, the bitcoin price could rebound and probably over US7885.

Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.

Information provided by AT Global Market, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading Company and had partnership with a number of well-known international financial corporations and institutions. Before he join ATFX, he was TeleTrade Greater China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices.

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