Fri, December 01, 2023

Daily Market Charts and Analysis 08.01 2020

Market Charts and Analysis

Here are the latest market charts and analysis for today. Check them out and know what’s happening in the market today.


The pair still appears to be on the defensive, trading below the 50-day moving average and 200-day moving average, near record low but within tight ranges on the daily chart. For the Mexican dollar, the outlook will roll on different factors but with emphasis on Banxico’s policy, government fiscal actions, and performance of the economy. The current 7.25% policy rate remain attractive for foreign investors to buy Mexican banks. As for Mexico’s relationship with the US, the two countries are increasingly in agreement when it comes to the need to boost the economic development of Central America to curb illegal immigration from the region, according to Mexican Foreign Minister Marcelo Ebrard. Mexican President Andres Manuel Lopez Obrador has wanted to enlist US support for his goal of stemming immigration by creating more jobs and opportunities in Central America amid scepticism from US President Donald Trump.



The dollar is gaining against the Norwegian krone in recent sessions after it pared its losses. Now, it’s heading up to retrace its downtrend last December that was caused by the broader weakness of the dollar. The two currencies are being driven by the international geopolitics of the US and Iran. Norwegian Defence Minister Frank Bakke-Jensen has said that Norway would pull its soldiers out of Iraq if the country formally demands that international forces leave the country. The Norwegian troops have been in the southern province of Anbar to help train Iraqi forces in the ongoing fight against the terrorist organization ISIL. Norway is also a part of NATO’s presence in Iraq. However, now the NATO operation is facing uncertainty after a US drone attacked and killed top Iranian General Qasem Soleimani near Baghdad on Friday. The Iraqi national assembly responded by voting to move all international forces out of the country.



The pair is struggling to gain some upward momentum in recent trading sessions, with the 50-day moving average moving just below its 200-day counterpart, indicating that bearish sentiment is prevalent among traders. Polish inflation stood at its highest level since 2012 in December as food prices and net inflation sped up, according to a flash estimate. This can probably renew arguments over the direction of interest rates in central Europe’s largest economy. Poland benchmark interest rate has been at a record low at 1.5% since 2015. Central bank governor Adam Glapinski has repeatedly said he expects rates to remain on hold until the end of his term in 2022. However, the minutes from the Monetary Policy Council (MPC) meetings showed that both hikes and cuts have been proposed. Flash CPI for December was at 3.4%, according to the statistics office. This figure is well above the 2.9% expected by analysts.



The pair is trading in the red for the most recent trading sessions, moving above and then plummeting below the 50-day moving average. The US and Israel are considered to be on the same side in the ongoing tensions between Washington and Tehran. In the latest development, Iran just launched more than a dozen ballistic missiles at US military and coalition forces in Iraq. This marks a drastic next step in its tense conflict with the US. It’s also a major change in strategy. Tehran quickly took responsibility for the attacks, saying that the strikes were revenge for the attack which killed the country’s most important military leader. After this, reports suggested that Iran warned of a “crushing and widespread” response if the US retaliates. The attacks then would include more missiles sent to “destroy Dubai and Haifa” in Israel. Via Twitter, Iranian Foreign Minister Javad Zarif said the attacks were made in self-defence.



Oil prices rose

In the ever-fluctuating world of crude oil trading, Friday morning witnessed oil

The US's new Antitrust Bills to control Tech Giants' power

In the dynamic realm of technology, safeguarding users from online fraud has

EU and European Commissions

In recent months, European inflation rates have been a rollercoaster ride, showcasing


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