Pharmaceutical companies distract investors from the U.S. dollar
Following the chart, we see that the USD/CAD pair is testing support at 1.30000 for the third time, which is also the Fibonacci level of 78.6%—news of vaccines and their success rates.
An increasing number of pharmaceutical companies distract investors from the U.S. dollar and redirect their investments to other currencies.
So if the dollar weakens further, we can expect the decline to continue to 1.27000, but before that, we can expect consolidation around 1.30000. Today we have a lot of news during the American session because tomorrow is a holiday in America – Thanksgiving.
We will highlight the following:
New orders for durable goods produced in the United States increased more than expected in October, the Ministry of Trade announced on Wednesday. The trade ministry said durable goods orders jumped 1.3 percent in October, after rising 2.1 percent in September.
Economists expected durable goods orders to rise by 0.9 percent. Excluding an increase in transportation equipment orders, durable goods orders continued to grow by 1.1 percent in October, after jumping 1.5 percent in September.
Ex-orders for transportation were expected to increase by 0.4 percent. The first claims for U.S. unemployment benefits rose unexpectedly in the week ending November 21, according to a report released by the Department of Labor on Wednesday.
The report states that the unemployed’ initial claims climbed to 778,000, an increase of 30,000 compared to last week’s revised level of 748,000. The increase surprised economists, who expected the number of unemployed to fall to 730,000 from 742,000 originally reported for the previous week.
A report released by the Department of Commerce on Wednesday showed that gross domestic product was not revised in the third quarter compared to the initial estimate.
The Department of Commerce said GDP jumped at an annual rate of 33.1 percent in the third quarter after quarter fell by 31.4 percent. The unaudited reading of GDP coincides with economists’ estimates.
In general, the news is below average and will probably have a bad effect on the dollar; we can not exclude the number of newly infected with coronavirus, which is at a record level in the USA.
An increasing number of pharmaceutical companies distract investors from the U.S. dollar and redirect their investments to other currencies.
So if the dollar weakens further, we can expect the decline to continue to 1.27000, but before that, we can expect consolidation around 1.30000. Today we have a lot of news during the American session because tomorrow is a holiday in America – Thanksgiving.
We will highlight the following:
New orders for durable goods produced in the United States increased more than expected in October, the Ministry of Trade announced on Wednesday. The trade ministry said durable goods orders jumped 1.3 percent in October, after rising 2.1 percent in September.
Economists expected durable goods orders to rise by 0.9 percent. Excluding an increase in transportation equipment orders, durable goods orders continued to grow by 1.1 percent in October, after jumping 1.5 percent in September.
Ex-orders for transportation were expected to increase by 0.4 percent. The first claims for U.S. unemployment benefits rose unexpectedly in the week ending November 21, according to a report released by the Department of Labor on Wednesday.
The report states that the unemployed’ initial claims climbed to 778,000, an increase of 30,000 compared to last week’s revised level of 748,000. The increase surprised economists, who expected the number of unemployed to fall to 730,000 from 742,000 originally reported for the previous week.
A report released by the Department of Commerce on Wednesday showed that gross domestic product was not revised in the third quarter compared to the initial estimate.
The Department of Commerce said GDP jumped at an annual rate of 33.1 percent in the third quarter after quarter fell by 31.4 percent. The unaudited reading of GDP coincides with economists’ estimates.
In general, the news is below average and will probably have a bad effect on the dollar; we can not exclude the number of newly infected with coronavirus, which is at a record level in the USA.
𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐁𝐫𝐨𝐤𝐞𝐫𝐚𝐠𝐞 - 𝐒𝐭𝐨𝐜𝐤 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐅𝐨𝐫𝐞𝐱 𝐍𝐞𝐰𝐬 & 𝐅𝐨𝐫𝐞𝐱 𝐁𝐫𝐨𝐤𝐞𝐫𝐬
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t.me/NFT_crypto_news_trading_signals