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USD Daily Review December 2, 2019

USD Daily Review for December 2, 2019

Crude Oil Plummets as Dow, Gold and USD Cling to Familiar Levels

The Dow Jones, gold and the US Dollar traded within their recent ranges last week as crude oil suffered a significant retracement on Friday as supply concerns worked to pressure the commodity lower.


Canadian Dollar Outlook Bearish on BOC, Jobs Data, Trade War

The Canadian Dollar may face selling pressure if the BOC outlook strikes a more cautious note ahead of a cascade of key jobs data as US-China trade tensions escalate.


Australian Dollar Could Struggle With RBA Rate Call, GDP Figures

The Australian Dollar is as in thrall to US-China trade headlines as any asset, but the coming week offers the prospect of much domestic distraction.


Japanese Yen Price Outlook: USD/JPY Faces Resistance / Six-Month High

The Japanese Yen is on the defensive as the US Dollar probes yearly open resistance at six-month highs. Here are the levels that matter on the USD/JPY weekly chart.


Canadian Dollar Firms Modestly as GDP Beats, but Still Decelerates

In a thinly-traded session, the Canadian Dollar was able to scrape together some gains after a slightly better than anticipated GDP report.


GBP/USD Technical Analysis: Cable clings to weekly highs above the 1.2900 handle

The market is ending the month virtually unchanged in November while consolidating near the October highs. The key resistance to reach for bulls on the way up


AUD/USD Technical Analysis: Aussie on track to end Friday near weekly lows, sub-0.6800 handle

AUD/USD daily chart AUD/USD is trading in a bear trend below its main daily simple moving averages (DMAs). The spot remains under pressure despite th


US Dollar Index Technical Analysis: Failed breakout above the critical 98.50 resistance

DXY (US Dollar Index) is trading in a bull trend above the main daily simple moving averages (DMAs). However, this Friday, the greenback had a failed breakout


USD/JPY pulls away from six-month highs, trades below 109.50

The USD/JPY pair rose to its highest level since May at 109.68 during the early trading hours of the American session but reversed its direction as th


EUR/USD Technical Analysis: Euro bulls getting a good deal on Black Friday

The euro/dollar currency pair, on the daily time frame, is trading in a downtrend below the main daily simple moving averages (DMAs).


GBP/USD rebounds and rises back above 1.2900, consolidates weekly gains

The GBP/USD pair rebounded from 1.2880 and climbed to 1.2937, approaching weekly highs. The move took place amid a retreat of the US dollar across the


USD/CAD fails to hold above 1.3300 despite crude oil selloff

The volatility surrounding the USD/CAD pair heightened during the American trading hours amid month-end flows and a sharp drop in crude oil prices. Af


USD/JPY and AUD/USD Forecast December 2, 2019

For additional up-to-date Forex Trading information: News (, Technical Analysis (…


EUR/USD and GBP/USD Forecast December 2, 2019

For additional up-to-date Forex Trading information: News (, Technical Analysis (…


GBP/USD Technical Analysis: On the back foot below two-week-old falling trendline

Following its multiple pullbacks from the two-week-old falling resistance line, GBP/USD declines to 1.2910 by the press time of early Asian session on Monday.


AUD/USD Forecast: RSI Offers Bearish Signal Ahead of RBA Meeting

Recent developments in the Relative Strength Index (RSI) offer a bearish signal for AUD/USD as the oscillator snaps the upward trend from August.


GBP/USD pays little heed to British politics ahead of UK Manufacturing PMI

The GBP/USD pair looks for fresh direction as it trades near 1.2915 while heading into the London open on Monday.


USD/INR steps back from one-week high amid optimism surrounding China PMI

With the Asian markets cheering China data, USD/INR pays little heed to the previously published India GDP while taking rounds to 71.70.


EUR/USD: Flashing red despite upbeat China data, focus on Lagarde’s testimony and US data

EUR/USD is not impressed by the upbeat China factory data and is flashing red ahead of the European Central Bank (ECB) President Christine Lagarde’s t


NZD/USD shrugs off NZ Treasury’s dismal growth forecast, remains bid at session highs

The NZD/USD pair remains bid at session highs near 0.6445, the highest level since Nov. 4, despite New Zealand Treasury’s pessimistic comments on econ


USD/INR technical analysis: Rupee looks south as India’s GDP hits 6-year low

The path of least resistance of the Indian Rupee is to the downside. The Indian unit rose well above 71.60 on Friday, confirming a falling channel bre


USD/JPY hits six-month high of 109.70

The anti-risk JPY is again losing ground, possibly tracking the uptick in the US equity index futures. The USD/JPY is currently trading at 109.70, the


AUD/USD Trading Prep for the Week Ahead (26 Nov 2019)

In this webinar, DailyFX Sr Strategist Ilya Spivak discusses the technical and fundamental AUDUSD outlook for the week ahead. -Subscribe to DailyFX: https://…


AUD/USD clings to modest recovery gains, lacks follow-through

The AUD/USD pair held on to its modest recovery gains and is currently placed near the top end of its daily trading range, around the 0.6775 region. H


US Dollar Index parked around 98.30 ahead of ISM

The greenback, when tracked by the US Dollar Index (DXY), is alternating gains with losses around the 98.30 region at the beginning of the week. US Do


USD/CAD stays positive beyond 200-day SMA ahead of US/Canada PMIs

USD/CAD takes the bids to 1.3295 during a pre-European session on Monday.


GBP/USD Forecast: Polls Still Point to a Tory Majority But Gap Closes

GBP/USD remains bid with the latest General Election polls pointing to a Conservative majority on December 12. One poll however has the lead tightening, prompting caution.


Silver Price News and Forecast: XAG/USD struggles below $17.00 mark, near 1-week lows

Silver held on to its weaker tone through the mid-European session on Monday and dropped to the lower end of a one-week-old trading range, around the


EUR/USD Technical Analysis: Remains bearish below the 55-day SMA near 1.1040

EUR/USD, in the meantime, keeps the narrow trading range in the low-1.1000s for the time being. Immediately above emerges the key 55-day SMA near 1.10


US Dollar Index Technical Analysis: Still rangebound. Further gains expected above 98.50

DXY has been rejected from the key resistance area near 98.50 during the last week. A breakout of this key hurdle should expose the 99.00 neighbourhoo


USD/CAD Technical Analysis: Consolidates in a range around 200-DMA

The USD/CAD pair managed to regain some positive traction on Monday, albeit remained well within 70-75 pips trading range held over the past two weeks


NZD/USD climbs to 1-month tops, beyond mid-0.6400s

The NZD/USD pair continued gaining positive traction through the early European session on Monday and climbed to near one-month tops, around the 0.646


Have a nice trading!

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