The dollar recovered 92.20/30 to ease the 4-week d
  Source:MARKETS 2022-12-28 11:19:35
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The dollar recovered 92.20/30 to ease a four-week declineFollow-up target looking 92.70Overnight offshore, the dollar index traded higher above the 92 mark, hitting as high as 92.40. Last week's weak non-farm payrolls report failed to change Fed rate hike expectations. Eur/USD fell as low as 1.1950 from above 1.20. Gold slipped from last week's 3-1/2-month high, dipping as low as $1,314 an ounce. However, dovish comments from two voting Fed officials in New York on Monday helped gold recover losses.Eur/USD closed at 1.1967; GBP/USD closed at 1.3567; Aud/USD closed at 0.7839; Usd/JPY closed at 113.07; Usd/CAD closed at 1.2418; Usd/CHF closed at 0.9770. Spot gold settled at $1,320.58 an ounce; Comex gold settled at $1,320.40 an ounce; Spot silver closed at $17.11 an ounce; Futures settled at $17.144 an ounce on Comex; NYMEX crude closed at $61.73 a barrel; Brent crude settled at $67.78 a barrel.Euro zone retail sales rose from -1.1% to 1.5% in November, compared with expectations of 1.3%, Eurostat said. Annual rate rose to 2.8% from 0.4% versus 2.3% expected.Atlanta Fed President Raphael Bostic said on Monday that if recent data comes in close to his forecast, he would support a slow exit from policy easing, forecasting "two to three" rate hikes in 2018. San Francisco Fed President John Williams said the central bank should consider changing its inflation target.In terms of the situation in North Korea, high-level talks between the two sides were underway on Tuesday, and on Sunday (January 7), South Korea's Unification Ministry said that the list of representatives of the two sides has been determined for the talks, and the two sides will focus on North Korea's participation in the Pyeongchang Winter Olympics, and will discuss matters related to improving inter-Korean relations.US President Donald Trump also changed his previous attitude last week, saying that he was willing to speak with North Korean Supreme leader Kim Jong UN and "100 percent support" the inter-Korean government meeting.Looking ahead, the dollar began to show signs of stopping its fall after the non-farm data, and now recovers the resistance level of 92.20/30, moving the rebound target further up to 92.50/70. The room for price increases remains the key for the market to gauge the number of actual rate hikes by the Federal Reserve in 2018, and it is also an important support for whether the dollar can eventually flip. Therefore, Friday's CPI data will be closely watched this week.The daily chart of the euro/dollar has fallen back above 1.2050, and the effective support below is currently at 1.1880/1.19, and the current price of 1.1950 May fall further. A healthy investor can wait for the trend structure around 1.1880 to be tested and the uptrend line since 1.1550 to be confirmed before considering a strategy to buy lower.The international gold price high convergence and volatility, the upper equivalent resistance in 1340/45, the lower equivalent support in 1306/03, weak support in 1312/13. Reasonable operation should be in 1306/03 low buy, activist investors can not break in 1313, try to light long, or wait for the triangle convergence pattern to break, in the choice.