Risk Appetite Gets Boosted Ahead of the FOMC Decision

Equities Gain on Vaccine Optimism, FOMC Decides on Mon. Policy

The US dollar traded lower against all the other G10 currencies on Tuesday and during the Asian session Wednesday. It underperformed the most versus GBP, JPY, and AUD in that order, while it lost the least ground versus EUR, CHF, and CAD.

Nasdaq 100 — Technical Outlook

The Nasdaq 100 cash index continues to trade above a short-term upside support line draw from the low of November 10th. We can see that the price is getting close to a possible test of the all-time high area, at 12673. For now, we will take a somewhat bullish approach, because in order to get a bit more comfortable with larger advances, a break of that 12673 barrier would be needed.

USD/CHF — Technical Outlook

Looking at the technical picture of USD/CHF on our 4-hour chart, we can see that the pair is forming a descending triangle, which according to the TA rules, tends to break to the downside. However, in order to get comfortable with that idea, we would prefer to wait for a violation of the lower side of that triangle first, which is at 0.8850. For now, we will stay cautiously-bearish.

As for the Rest of Today’s Events

During the early EU session, we already got the UK CPIs for November. Both the headline and core rates slid by more than anticipated, but the pound did not react, confirming that GBP-traders have their gaze locked on the political landscape.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
JFD

JFD

JFD is a leading Group of Companies offering financial and investment services and activities.