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On November 18th, CICC issued a research report initiating coverage of Guoquan (02517.HK) with an "Outperform" rating and a target price of HK$4.9. Guoquans retail-oriented strategy caters to consumers needs for home-cooked meals by offering a variety of delicious and affordable family-friendly dining products. CICC projects the companys earnings per share to be RMB 0.16 and RMB 0.2 for this year and next year, respectively, implying a CAGR of over 35% from 2024 to 2026.Kazakhstans national oil and gas company: Media reports regarding the companys potential acquisition of Lukoils stake in the Karachaganak project are untrue.On November 18th, Futures News reported that oil prices have recently fluctuated widely due to the situation in Europe. Prices rose after Ukraine attacked oil facilities in a European country, but fell back after ports resumed exports. Geopolitical issues have become the core disruptive factor. Zhuochuang Information predicts that the situation in Europe is generally under control, and the market is now more focused on the situation in South America. Whether the two countries reach a settlement will be key to future oil price movements. If the US launches an attack, oil prices will enter an upward trend; otherwise, they will continue to fluctuate widely, requiring close monitoring.November 18th, Futures.com analysts latest view: Spot gold prices broke below a key technical support level in todays trading, with market sentiment influenced by expectations of the latest Federal Reserve policy. Investors reacted to strong US economic data, leading to a stronger US dollar index and putting downward pressure on spot gold. From a technical perspective, if spot gold cannot quickly recover its losses, it may further test the lower support area. Investors should closely monitor speeches by Federal Reserve officials and upcoming economic data to determine future market trends.November 18th, Futures.com analysts latest view: WTI crude oil futures prices fell slightly, continuing to fluctuate within a narrow range near their 50-day exponential moving average (EMA50), forming a neutral trading area that leaves the short-term trend unclear. This reflects a wait-and-see attitude in the market, awaiting a genuine driving factor to prompt a price rebound or a return to a downward trend. Only a breakout from the current range will provide greater clarity on the next trend.

GBP/USD falls from a five-month high to 1.2200 as traders await NFP data from the United States

Alina Haynes

Dec 02, 2022 15:47

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GBP/USD reverses direction from yesterday's strongest levels since late June, as markets stabilise in front of Friday's critical US employment report for November. As of press time, despite this, the intraday low for the Cable pair is approaching 1.2230.

 

In addition to pre-NFP anxiety, the recent decline in the quote may also be ascribed to the market's modest pessimism and poorer UK statistics.

 

S&P 500 Futures decline 0.30 percent intraday to 4,070, mirroring market mood as US 10-year Treasury yields bounce from a 10-week low to 3.53 percent as of press time.

 

Potentially responsible are worries about the decline of the Initial Public Offering (IPO) markets. According to industry experts presenting at the Reuters NEXT conference, "a global slowdown in initial public offerings due to heightened market volatility and a regulatory cloud over fresh listings from China has created pent-up demand that might lead to an IPO boom in 2023."

 

The Business Times of Singapore stated that the United Kingdom's house prices dropped 1.4% in November, which was greater than the 0.2% reduction that had been forecast. In contrast, record-high fresh food inflation and a rise in the UK's final S&P Global/CIPS Manufacturing PMI statistics for November appear to pose a challenge to GBP/USD bears.

 

The Bank of England's (BOE) hawkish forecasts and the Federal Reserve's (Fed) recent dovish forecasts for its next move are on the same path. Moreover, weak US inflation and economic activity figures weigh on the US Dollar, keeping GBP/USD bulls bullish.

 

The November US jobs report will be crucial for GBP/USD buyers in light of negative data forecasts and fears of additional Greenback losses. As a result, the headline Nonfarm Payrolls (NFP) number is expected to decline from 261K to 200K, while the unemployment rate may remain unchanged at 3.7%. It should be noted that a likely decline in Average Hourly Earnings for the relevant month could potentially weigh on the DXY.

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