The latest retail sales figures for November were not well received in the local stock market, with the ASX200 down almost 1% as the Aussie dollar remains under pressure after assets’ big round trip to risk overnight.
The Pacific Peso just doesn’t appear to be able to return to its former highs (and nominal annual highs) above the 75.80 level after briefly dodging below the 75 handle overnight:
The Chinese Yuan remains on a steady uptrend against the King Dollar, with the PBOC again reducing the benchmark rate significantly, from 6.5507 to 6.5387, with offshore trading currently not far away. The weekly chart shows the sharp depreciation of the USD against the Yuan this year:
And while all eyes are on gold and Bitcoin, the silver bears are watching here as the daily price is poised to break through the old support and maintaining considerable resistance at the $ 27 per ounce level, after a series of months settling between $ 22 and $ 26 after its breakdown by year begins. The overnight back and forth (note the long wicks on both sides of yesterday’s candle) may have eliminated many short positions here:
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