Daily Forex News and Analysis — November 30th 2017

US stocks were mixed after the close on Wednesday as gains in Telecoms, Financials, and Consumer Services were offset by losses in Technology, Basic Materials, and Utilities. The Dow Jones rose by 0.44%, the S&P 500 fell by 0.04%, and the NASDAQ lost 1.27% from its value. The US dollar traded roughly unchanged against a basket of major currencies as upbeat economic data and signs of progress on tax reform lifted sentiment, but a surge in sterling weighed on upside momentum. Today, the Unemployment Claims is expected at 241K vs. 239K previously. Gold rose, closing at $1,285 an ounce. Crude Oil prices settled lower on Thursday after data showing crude stockpiles fell for the second straight week failed to offset an unexpected build in product inventories ahead of the OPEC meeting.

The euro rose versus the US dollar, to close at 1.1870. On the 1-hour chart, the pair is trading above the resistance level at 1.1810. As long as the pair maintains this condition, a rise towards 1.20 can be expected. However, falling towards the resistance may change the momentum and move it to the 1.15 level. Today, the CPI Flash Estimate is expected at 1.6% vs. 1.4% previously. The pound rose versus the US dollar, closing at 1.3475. On the 4-hour chart, the pair is trading above the resistance level at 1.3325 with the RSI indicator above 50 and is expected to rise towards 1.37. However, breaking below could lead the pair towards 1.30. Today, the Nationwide HPI is expected at 0.2% vs. 0.2% previously.

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