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On Wednesday, November 19th, the German DAX 30 index opened down 12.89 points, or 0.06%, at 23160.16; the UK FTSE 100 index opened up 8.80 points, or 0.09%, at 9561.10; and the French CAC 40 index opened up 1.01 points, or 0.01%, at 7968.94. The Stoxx 50 index opened 2.12 points higher, or 0.04%, at 5535.65 on Wednesday, November 19; the Spanish IBEX 35 index opened 24.95 points higher, or 0.16%, at 15848.15 on Wednesday, November 19; and the Italian FTSE MIB index opened 12.64 points lower, or 0.03%, at 42826.00 on Wednesday, November 19.On November 19th, Yuanjie Technology announced that its board of directors, at its meeting held on November 19th, 2025, approved a resolution authorizing management to initiate preparatory work for an overseas issuance of shares (H shares) and listing on the Hong Kong Stock Exchange. This move aims to accelerate the companys internationalization strategy and overseas business layout, enhance its brand image and awareness, and improve its capital strength and overall competitiveness. The company plans to discuss the specific details of the H-share listing with intermediaries and will strictly comply with relevant laws and regulations and fulfill its information disclosure obligations.November 19th - UK October inflation came in line with expectations, reinforcing market expectations that the Bank of England will cut interest rates in December. The pound fell slightly after the data release. "Signs that inflation has peaked should prompt the Bank of England to lean towards a rate cut in December," said Schroders economist George Brown in a report. However, whether further rate cuts will occur will depend on the content of the UK budget on November 26th. LSEG data shows that the market currently expects a 79% probability of a Bank of England rate cut in December.The Indonesian central bank kept its benchmark interest rate at 4.75%, in line with expectations.Indonesias 7-day reverse repo rate as of November 19 was 4.75%, as expected and unchanged from the previous rate.

In ahead of US NFP and Eurozone Inflation data, EUR/USD seeks a range break near 1.0600

Alina Haynes

Jan 05, 2023 15:11

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During the Asian session, the EUR/USD pair attempted to break out of the consolidation range it formed above the round-level support of 1.0600. Given the risk-on market mentality, it is expected that the major currency pair will continue its upward trend.

 

In Asia, S&P500 futures are indicating a modest retracement, but the overall risk profile remains sturdy following Wednesday's strong advances. The US Dollar Index (DXY) is languishing below 104.00 and is likely to continue on edge as further reduction of inflation expectations in the United States is expected to keep safe-haven assets under pressure in the short term.

 

According to the Federal Open Market Committee (FOMC) minutes, all Federal Reserve (Fed) policymakers favored a more gradual rate of policy tightening. For Fed members to abandon their hawkish view on monetary policy, greater evidence of inflation moderation is required.

 

According to Reuters, the president of the Minneapolis Fed, Neel Kashkari, emphasized on Wednesday that the Fed must avoid hastily lowering the policy rate and reigniting inflation. In order to attain the inflation target of 2%, he suggested that the interest rate should peak at approximately 5.4% and then remain stable.

 

This week, investors will closely monitor the second catalyst considered by the Federal Reserve when crafting monetary policy. Friday's Nonfarm Payrolls (NFP) are projected to be 200K, a decrease from the previous report's 263K. In addition, investors will pay attention to the Average Hourly Earnings (Dec) data, which is expected to be 5% lower. Given that consumers will continue to have more discretionary spending, a rise in wage expenses may cause the Consumer Price Index to grow (CPI).

 

Investors anticipate the release of the Eurozone's Harmonized Index of Consumer Prices (HICP) on Friday. According to the consensus, the headline HICP is projected to decrease from 10.1% to 9.7%. Consensus has diminished as a result of falling energy prices and the government's one-time reimbursement of family energy expenses. Certainly, the European Central Bank (ECB) will be fascinated by this in the future.

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