The USDJPY one step away from testing 114.00 resistance. By the end of trading session on Tuesday, the dollar index rose to 97.2, which corresponds to a maximum of 10 days. Market participants put on the growth of the "American" in the background almost inevitably increase the key interest rate, the decision on what the Fed may adopt in December. It is worth noting that the state of the US economy, characterized by the voting members of the Fed as an excellent, more than contribute to further tighten monetary policy. Once again, make sure that traders will be able to today, when will come the annual US GDP data, as well as the index for personal consumption expenditures. Judging by the forecasts, the statistics will not be disappointed, and thus before the end of the day the American currency will be a worthy base for growth.
An additional factor supporting the USDJPY pair can become "tough" rhetoric of Fed Chairman Jerome Powell, which is expected to yet another signal in favor of further normalization of monetary policy. On the side of the "American" and a general improvement in market sentiment. November 30 - December 1 at the G20 summit will discuss the trade dispute United States and China. Given that the meeting will be attended by leaders of the US and China, the market may bring a return of hope to settle trade disputes between the world's leading economies. In this case, the demand for protective yen remains under question. Taking this into account, the growth USDJPY pair is likely to continue.
USDJPY BuyLimit 113,60 TP 114,70 SL 113,20
Brent crude oil maintains its position just above $ 60 per barrel. asset growth is constrained by the prospect of a global economic slowdown due to the ongoing trade dispute between the US and China, as well as raw materials glut in the market due to record production rates in Saudi Arabia, the US and Russia. Another oil pressure factor is the strengthening of the dollar. On the eve of the US currency index peaked in the last 2 weeks. As oil prices are denominated in dollars, the exchange rate of the last growth makes it more expensive, which will inevitably impact on demand. The expensive oil does not believe and investment funds. According to JBC Energy hedge funds and other speculators actively liquidate bets on rising prices - the net long positions in Brent has fallen to its lowest level since the end of 2015. Despite, that we share forecast even greater long-term weakness of the oil before the participants of the market will resume sales, buyers have the chance to go for higher prices. In other words, at this stage there is a high probability of intercept local initiative is "bulls". This will contribute to the expectations of the December OPEC meeting, which resulted in a reduction of production steps can be agreed. Taking this into account, short-term rate remains for Brent purchases up to $ 65 per barrel. which resulted in a reduction of production steps can be agreed. Taking this into account, short-term rate remains for Brent purchases up to $ 65 per barrel. which resulted in a reduction of production steps can be agreed. Taking this into account, short-term rate remains for Brent purchases up to $ 65 per barrel.
UKOIL BuyLimit 60,60 TP 64,50 SL 60,10
Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Trading ideas today the author Artem Deev trader analyst AMarkets.