Nasdaq 100, S&P 500, US Dollar, British Pound, Euro, Gold

Global market wrap and review.

• The US dollar continued its decline after the FOMC.
• US indices continue to rise.
• A constant stream of highly relevant economic data and events.

This week’s economic calendar is packed with a wide variety of market-moving economic releases that will help position the market ahead of global monetary policy decisions in mid-December. Others include German inflation and jobs, Canadian and Swiss Q3 GDP numbers, Eurozone inflation, Fed Chair Jerome Powell and Bank of Japan Kuroda speeches, Canadian employment and closely watched US core PCE and Non-Farm Payroll releases.

Watch for all market-moving data releases and economic events DailyFX Calendar.

The holiday-shortened market last week was dominated by a further weakening of the US dollar after FOMC minutes suggested a majority of members thought a slowdown in the pace of interest rate hikes might be appropriate. The mere hint that the Fed may take its foot off the accelerator sent the US dollar lower and pushed a number of risk markets higher. The market now expects a 50 basis point rate hike at the mid-December FOMC meeting.

Key Predictions for November 28, 2022

Serious market events for S&P 500, FTSE 100, DAX and Nikkei

Liquidity will return to the market next week, which has seen both seasonal and structural suppression of volatility. As we enter the end-of-year holiday period, which reinforces expectations of reduced activity and participation, there is no guarantee that calm will prevail.

Fundamental Forecast: Retailers Expect Strong Black Friday Sales

UK retailers hope Black Friday shopping will boost spending ahead of the festive season amid one of the worst cost-of-living crises the UK has seen in years.

Australian Dollar Outlook: A Sinking US Dollar Floats All Boats

The Australian Dollar rose to a two-month high late last week as the US Dollar collapsed on market perceptions of a shift in Federal Reserve policy.

USD Forecast: Will Heavyweight Data Affect USD’s Continued Decline?

The US dollar continues to fall on a slightly less hawkish Fed outlook. The US dollar was trading one-way for most of 2022 before the recent reversal. DXY is down 8% since the end of September.

Euro Week Ahead: EUR/USD Heading For Best Month Since 2010? Eyes on Eurozone CPI

The euro is likely heading for its best month since September 2010 as markets focus on the relationship between the Fed and the ECB. EUR/USD follows Eurozone CPI and non-farm payrolls data next.

Technical Predictions for November 28, 2022

Gold (XAU/USD) is consolidating around a Key Technical Support Zone

Gold prices have returned to the technical support and resistance zone around the key psychological handle of $1,750. Can the bulls drive the XAU higher or will the bears move in?

US Dollar Technical Forecast: EUR/USD, GBP/USD, USD/CAD, USD/JPY

The US dollar’s uptrend is stalling after setting a new two-decade high in September. October price action brought indecision into the mix, but November has been a quick turnaround so far as prices have pulled back.

Bitcoin (BTC), Ethereum (ETH) Weekly Forecast: Potential Short-Term Bounce Ahead

Bitcoin and Ethereum are both in the process of forming notable technical consolidations that could lead to short-term breakouts.

S&P 500 and Nasdaq Composite Index Technical View: Looking for a Bull Break?

After a holiday-shortened week, the S&P 500 is at a crucial crossroads, where a break above could raise the chance that medium-term weakness in U.S. stocks could begin to reverse.

Japanese Yen Weekly Forecast: 140 Key for USD/JPY Ahead of US Economic Data

Technical analysis sees the 140.00 inflection point as important for short-term guidance for USD/JPY.

How do you feel about market sentiment? – bullish or bearish? You can let us know via the form at the end of this post or contact the author via Twitter @nickcawley1.