Trading plan for 08/11/2017:
Excitement goes on sale in the first hours on Wednesday. USD initially lost, although in the last few minutes it regains vigor. The flat closure of Wall Street has given tone to the trade in Asia. Crude oil falls slightly after weaker data on China’s imports. In general, markets remain in tight zones. EUR/USD trades under 1.16, USD/JPY over 113.70.
On Wednesday, 8th of November, the event calendar is light in an important news release. Only during the US session, Canada will post Housing Starts and Building Permits data, the US will reveal Crude Oil Inventories data and late in the session, the Reserve Bank of New Zealand will make a decision regarding the interest rate.
Bitcoin analysis for 08/11/2017:
According to the New Zealand Financial Markets Authority, cryptocurrency and ICO projects are safe
Global macro overview:
The Australian Dollar found temporary support in the RBA announcement that no major changes in inflation and growth forecasts were made. #AUDUSD
Oil rises to $57, hitting the highest level since July 2015. The rally in oil prices is partly driven by recent reports from the OPEC as the geopolitics continues to boost price surges. #CrudeOil
The demand for workers remained strong in the US in September, with 6.1M (versus 5,9M a month ago) job openings registered at the end of the month. #USDCHF
Market participants expect the RBNZ to maintain its key interest rate at 1.75% together with the neutral outlook for the monetary policy. #NZDUSD
