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Global risk appetite


28 November 2022 Written by Andria Pichidi  HF Markets Analyst Andria Pichidi

The USDIndex held fractionally lower below 106.00 following a short week and a hit in risk sentiment and stoked uncertainty. USDJPY drifted by 0.80% to 138 in a blow to risk appetite, by protests in China, a manufacturing powerhouse and Southeast Asia’s top trading partner, which flared for a third day and spread. – How will the government react to the wave of civil disobedience when COVID cases are rising?

Chinese Stocks & Yuan slump!  – The dissent toward President Xi is greater than ever, as protestors in  Shanghai urge for Xi resignation. 

Stocks – Wall Street closed in the red, while it has gapped down today as global equities tumbled on China unrest (NASDAQ -0.52%, S&P -0.03%. Apple set to lose 6 million Iphones professionals from tumult at China plant (Friday’s close -1.96%) – production could slump by 30% in its main Zhengzhou plant in central China.

Today – There is a heavy data calendar that includes nonfarm payrolls on Friday. ECB President Lagarde & FOMC Member Bullard speak today. Biggest FX Mover @ (07:30 GMT) AUDJPY (-1.80%), used as a liquid proxy for the Yuan declined to 92.14. MAs aligning lower, MACD histogram & signal line negative & falling, RSI 22 & OS, H1 ATR 0.2566, Daily ATR 0.9899.

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