Today, the market will focus on the Tesla pickup truck, Jeremy Corbyn’s plans, and U.S. pro-Hong Kong rights laws.
News
Elon Musk unveiled Tesla’s first electric pickup from. Affects Tesla
In the UK, Labor leader published a radical plan for the country’s development, in which he calls for an increase in taxes, an increase in government employees’ salaries, and the nationalization of infrastructure. Affects GBP
Donald Trump plans to sign two laws aimed at protecting protesters in Hong Kong, which will hurt U.S.-China relations. Affects S&P500
Germany’s automakers will be fined 100 million euros. Affects BMW
China has invited the United States to hold a new round of trade talks in Beijing. Affects S&P500
Calendar
09:30 GMT
The UK releases preliminary data on services PMI. The previous result was 50 points. If the new one is lower, it will have a negative impact on the GBP.
13:30 GMT
Canada releases updated data on its retail sales index. Analysts expect a result of 0.1%. If the reading comes in higher, the CAD will strengthen.
Technical analysis
S&P500
U.S. lawmakers approved two laws aimed at protecting the autonomy of Hong Kong. The first one provides for a ban on the sale of various special equipment, which police officers use. The second measure is politically stronger. According to this document, the U.S. secretary of state should certify that Hong Kong has enough autonomy at least once a year, which China does not really approve of.
The news may worsen the trade negotiations, so for the U.S. stock market might hit a rough patch. Most likely, S&P500 quotes will fall to 3100. This is shown by the Fibonacci levels.
EUR/USD
We can see something like a Head and Shoulders pattern in the chart, which implies that the trend is bullish.
Bitcoin
The cryptocurrency has lost more than 20% since October 26. Technically, the decline target is the level of 7500.
AUD/JPY on this day in history
- Since 2000, November 22 has been a trading day 14 times.
- On 50% of those days, the asset ended with growth.
- The maximum reinforcement range was 2.8%.
- The trend down was limited to 0.57%.