TOKYO, Nov 25 (Reuters) – Japan’s ruling party is discussing whether to ease military equipment export rules, in part because without a change Britain would not be able to sell any jet fighters it builds with Japan, former defence min ...
1. Forex Market Insight
EUR fell sharply by 1.75%, touching its lowest since late 2002.
EUR suffered its biggest one-day drop since the coronavirus pandemic hit markets in March 2020.
The yuan posted its biggest one-day gain since then.
(EUR/USD 1-hour chart)
We focus on the 1.0357-line today. If EUR runs steadily below the 1.0357-line, then pay attention to the support strength of the two positions of 1.0184 and 1.0017. If the strength of EUR breaks above the 1.0357-line, then pay attention to the suppression strength of the two positions of 1.0529 and 1.0642.
GBP Intraday Trend Analysis
GBP/USD touched its lowest in two years on Tuesday, 5th July 2022.
The crisis in British Prime Minister Boris Johnson’s government has added pressure to a pound already mired in recession fears and a recovering dollar.
(GBP/USD 1-hour chart)
GBP is mainly focused on the 1.1970-line today. If GBP runs below the 1.1970-line, it will pay attention to the suppression strength of the two positions of 1.1870 and 1.1820. If GBP runs above the 1.1970-line, then pay attention to the suppression strength of the two positions of 1.2056 and 1.2106.
2. Precious Metals Market Insight
Gold is considered to be a hedge against inflation.
However, the increase in interest rates to ease price pressures has reduced the demand for interest-free gold.
(Gold 1-hour chart)
Gold pays attention to the 1760-line today. If the gold price runs steadily below the 1760-line, then it will pay attention to the support strength of the 1751 and 1740 positions. If the gold price breaks above the 1760-line, then pay attention to the suppression strength of the two positions of the 1783 and 1793.
3. Commodities Market Insight
WTI Crude Oil
Oil prices tumbled nearly $12 on Tuesday, 5th July 2022, their biggest one-day drop since March.
The decline spread to other energy products amid concerns about the global recession.
Both crude benchmarks posted their biggest one-day percentage declines since 9th March 2022, and shares of major oil and gas companies also took a hit.
Oil prices hit their lowest since late April.
Oil prices focus on the 102.52-line today. If the oil price runs above the 102.52-line, then focus on the suppression strength of the two positions of 105.01 and 109.62. If the oil price runs below the 102.52-line, then pay attention to the support strength of the two positions of 95.05 and 91.54.
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