Sergey Golubev / Profil

Wall Street Stays Firm (based on forexminute.com article)

The U.S. stock market stays firm on Wednesday where the S&P 500 index manages to sustain itself above the psychological support level of 1800, even after the release of economic indicators including Chicago PMI, unemployment claims, and consumer sentiment that showed the outcome to be much better than expected. The point here to note is that the better the economic indicators come now, the higher the chances would be that the tapering of stimulus plan is done as soon as possible.

And if this happens, then the stock market would start falling because money supply would be curbed and this boom in the market or should we say the artificial optimism would not be there. Yet again, the role of overall market sentiment is coming into play where the overall market outlook is still bullish where the signs from different major economies show that the world economy is getting better.

AUD/USD near 4-month lows in thin trade (based on investing.com)

The Australian dollar edged down against its U.S. counterpart in thin trade on Wednesday, hovering close to almost four-month lows as expectations for the Federal Reserve to soon begin tapering its stimulus program continued to support the greenback.

AUD/USD hit 0.9138 during late Asian trade, the session high; the pair subsequently consolidated at 0.9105, slipping 0.21%.

The pair was likely to find support at 0.9038, the low of September 4 and resistance at 0.9204, Tuesday's high.

Bitcoin hits news record, approaches USD1000 level (source - investing.com)

The price of virtual currency Bitcoin rose to a new record high on Wednesday, with the price of one Bitcoin briefly reaching USD977, as the Bitcoin community prepares to hold its own Black Friday event.

The currency approached the USD1000 level, with BTC/USD briefly rising to 977 on the world’s largest Bitcoin exchange, the Tokyo based MT Gox before falling back to USD960. This compares to a price of about USD200 in October.

Bitcoin entrepreneur Jon Holmquist has launched a website called Bitcoin Black Friday, aimed at raising awareness about the controversial cryptocurrency, by offering deals on the biggest U.S. shopping day of the year.

Somewhere beyond the sea ...

After ...

GOLD TECHNICAL ANALYSIS

Weekly outlook: November 25 - 29

USDJPY Tachnical Analysis

Bigger than Libor? Forex probe hangs over banks

A global investigation into forex trading abuses is the latest legal headache for the banking industry.
The [forex and Libor] benchmarks have a knock-on effect to all of these other markets," Kovel said. Assistant professor of law at Wake Forest University Andrew Verstein agrees.

Gold is NOW at our price level (based on forexminute.com article)

We argue for you to consider buying a small position in Gold at this panic low.
If you don’t know by now, panic lows in Gold do not last long.

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Good morning