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MHMarkets：Fed hawkish officials became "dove", and the dollar index hit a three-month low.

MH Markets | 2023-11-29 19:55

Abstract：At the end of the Asian market on Wednesday (November 29), two hawkish Fed officials softened their attitude towards interest rate policy last night, strengthening market expectations that the Fed has completed a rate hike.

At the end of the Asian market on Wednesday (November 29), two hawkish Fed officials softened their attitude towards interest rate policy last night, strengthening market expectations that the Fed has completed a rate hike. The statements of two Fed officials have led bond traders to increase their bets on the Fed's interest rate cut next year, resulting in a significant drop in US short-term bond yields. The US dollar index has been continuously declining recently, and after facing resistance above yesterday, the market continued to decline, reaching a low of around 102.60. At the opening of the Asian market today, the US dollar index fell short and opened low, but its current price is around 102.65. Affected by dovish comments from Fed officials, gold surged to 2043.03 yesterday. There is still strong upward demand for gold in the future market, and it is highly likely that gold will hit the previous high of 2078.46 in the short term. At the opening of the Asian market today, gold continued to rise, with a current price around 2043.67. US crude oil has been less volatile recently due to the fundamental policies of oil producing countries. Yesterday, after receiving support below, US crude oil prices began to rise and broke through the small resistance formed during the previous period, closing near the intraday high. At the opening of the Asian market today, US crude oil slightly consolidated, with a current price around 76.59. After receiving support from below yesterday, EURUSD saw a significant increase in the market and engaged in a game during the US market period. The final price choice was to rise and close near the intraday high. At the opening of the Asian market today, EURUSD continued to rise, with a current price around 1.1004. Bank of Japan deliberative committee member Seiji Anda stated that he personally believes it is difficult to end negative interest rates before the positive wage inflation cycle begins. At present, negative real interest rates support the economy, and a positive real interest rate will have a negative impact on the economy. I don't think we have reached the stage of discussing the end of negative interest rates. Recently, USDJPY has experienced a significant decline in the market due to the impact of the US dollar fundamentals. After facing resistance above yesterday, USDJPY accelerated its downward trend and continuously broke through multiple support levels. At the opening of the Asian market today, USDJPY fell and was hindered by a decline around 146.66 below. The current price is around 147.06.

MHMarkets strategy is only for reference and not for investment advice. Please carefully read the statement at the end of the text. The following strategy will be updated at 15:00 on November 29, Beijing time.

Gold XAUUSD·
Resistance	2052.98 – 2059.79 – 2078.46
Support	2038.05 – 2022.46 – 2011.15
The above figure shows the 30 minute chart of gold. The chart shows that the recent upward resistance of gold has been around 2052.98-2059.79-2078.46, and the downward support has been around 2038.05-2022.46-2011.15. The market will be judged by whether to break through the upper and lower support and resistance. Note: The above strategy was updated at 15:00 on November 29. This policy is a daytime policy. Please pay attention to the policy release time.

Crude Oil USOUSD·
Resistance	77.18 – 77.96 – 78.65
Support	74.72 – 74.14 – 73.81
The above chart shows the 30 minute chart of US crude oil. The chart shows that the recent upward resistance of US crude oil is around 77.18-77.96-78.65, and the downward support is around 74.72-74.14-73.81. The market will be judged by whether to break through the upper and lower support and resistance. Note: The above strategy was updated at 15:00 on November 29. This policy is a daytime policy. Please pay attention to the policy release time.

EURUSD·
Resistance	1.1019 - 1.1044 - 1.1065
Support	1.0973 - 1.0945 - 1.0925
The above figure shows the 30 minute chart of EURUSD. The chart shows that the recent upward resistance of EURUSD is around 1.1019-1.1044-1.1065, and the downward support is around 1.0973-1.0945-1.0925. The market will be judged by whether to break through the upper and lower support and resistance. Note: The above strategy was updated at 15:00 on November 29. This policy is a daytime policy. Please pay attention to the policy release time.

GBPUSD·
Resistance	1.2734 – 1.2747 – 1.2765
Support	1.2671 - 1.2607 – 1.2589
The above figure shows the 30 minute chart of GBPUSD. The chart shows that the recent upward resistance of GBPUSD is around 1.2734-1.2747-1.2765, and the downward support is around 1.2671-1.2607-1.2589. The market will be judged by whether to break through the upper and lower support and resistance. Note: The above strategy was updated at 15:00 on November 29. This policy is a daytime policy. Please pay attention to the policy release time.

MHMarkets Precious Metal Crude oil Foreign Exchange Fundamentals Overview Techinical Level CPI

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MHMarkets：Fed hawkish officials became "dove", and the dollar index hit a three-month low.

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