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Market Update – November 28 – Global risk appetite is back

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  • The USDIndex Below, fractionally lower 106.00 After a brief week, there was a spike in risk sentiment and stoked uncertainties.
  • USDJPY drifted 0.80% to 138 in a blow to risk appetite, by protests in China, a manufacturing powerhouse and Southeast Asia’s top trading partner, which flared for a third day and spread. – How will the government respond to civil disobedience as COVID cases rise?
  • Chinese Stocks & Yuan slump!  – The dissent toward President Xi is greater than ever, as protestors in  Shanghai urge for Xi resignation.
  • Stocks – Wall Street closed in the red. However, it has fallen today due to global equities falling on China unrest.NASDAQ -0.52%, S&P -0.03%Apple set to lose 6 million Iphones professionals from tumult at China plant (Friday’s close -1.96%) – production could slump by 30% in its main Zhengzhou plant in central China.
  • EUR – rebounded to 1.0395.   
  • GBP – Holds below the 200-day SMA 1.2065.

  • USOil – -3.11% At 2 months support, the stock price plummeted $75 To $73.90 today, as China’s covid zero policy is put to the test, clouding the energy demand outlook.
  • Gold – at $1750, Under pressure together with the overall commodity markets.    
  • BTC – slumps as uncertainty prevails. At the moment



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