The latest retail sale figures for November have not been received well on the local share market, with the ASX200 down nearly 1% while the Australian dollar remains under pressure after the big roundtrip in risk assets overnight.
The Pacific Peso just can’t seem to get back to its former highs (and nominal yearly highs) above the 75.80 level after briefly ducking under the 75 handle overnight:
The Chinese Yuan remains on a steady uptrend against King Dollar, with the PBOC cutting the reference rate down significantly again, from 6.5507 to 6.5387, with offshore trading currently not far off. The weekly chart shows the steep depreciation the USD has faced against Yuan this year:
And while all eyes are on gold and Bitcoin, silver bears watching here as daily price is ready to break through former support and now considerable resistance at the $27USD per ounce level, after a series of months settling between $22 and $26 following its start of year breakdown. The roundtrip overnight (note the long wicks on both sides of yesterday’s candle) may have washed out many short positions here:
