Thanksgiving and Thanks President Trump

After U.S. President, Donald Trump said that he will give the big reducing tax for American for Christmas, investors reduce anxiety and Wall Street closed higher on Tuesday. While greenback declined because yield of ten-year bond fell. Today New York stock market works only half day after Thanksgiving Day so U.S. investors may not work actively during this period.
Today greenback may decline if other major currencies will get good supporting such as SGD (Singapore CPI at 12.00p.m.), euro (GDP at 14.00p.m. and manufacturing PMI at 15.30 p.m. in German), pound (U.K. third quarter GDP at 16.30 p.m.) and CAD (Core retail sale at 20.30 in Canada).
In my opinion, today Singapore CPI may give positive for SGD, if it is higher than 0.5%. According to the one day timeframe graph USD/SGD, it may building the double top pattern and the U.S. dollar may decline. I suggest the support line at 1.3490 points.
If Germany GDP and PMI will be better than expected, euro may continue its bullish trend. If euro can break 1.1750 points, euro may rise against dollar again. I also suggest to focus on ECB monetary policy meeting at 19.30 p.m. as it may effect to EU economy in middle term and long term. Furthermore, the political uncertainty in German may still in focus.
It seems pound try to stop its flat by rising a little bit for a week. I think pound may need to break 1.330o points to confirm the bull. While U.K. third quarter GDP forecasted the same as the second quarter. In my view, it may shows the slowdown of economic growth. It may cannot support pound to rise higher, if GDP will reach the expectation.
Core retail sales and retail sales in September in Canada predicted higher. These indexes may support Canadian dollar. I think Loonie may fall to 1.2700 points. However, if indexes of Canada is lower than expected, U.S. dollar may edge higher above 1.2820 points against Canadian dollar.
After a big theft allegedly affected a separate virtual currency system called Tether. Bitcoin and Ethereum fell a little bit and recovered fast. In my opinion, investors in Crypto market should concern about this security issue. However, Bitcoin and Ethereum price may hold steady or slightly raise up.

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade

Olymp Trade Review