Analyst
Bearish Preference: Sell position is envisaged if price trades below 29944 with take profit at 29876
Bullish Preference: Buy position is envisaged if price trades above 30048 with take profit at 30124
PPI m/m (US) 2:30 PM
Core PPI m/m (US) 2:30 PM
Comment: The House of Representative has bought themselves sometime to negotiate the stimulus package after passing a one-week government funding extension, allowing the government to continue to run for an extra week. The lawmakers have been debating the size and scope of the stimulus package for some weeks, and expectations have grown that a form of compromise will be reached soon to save the economy that has been battered by COVID-19.
Bullish Preference: Buy position is envisaged if price trades above 1840.70 with take profit at 1842.66.
Bearish Preference: Sell position is envisaged if price trades below 1824.00 with take profit at 1820.96 .
PPI m/m (US) 2:30 PM
Core PPI m/m (US) 2:30 PM
Comments: The U.S. saw 853,000 jobless claims filed during the past week, more than the 725,000 data released on Thursday, suggested that the number of claims increased as more businesses shut down due to ever-increasing numbers of COVID-19 cases in the U.S. Also negotiations between the Democrats and Republicans over the stimulus measures continue as they race against a Dec. 11 deadline to avert a government shutdown.
Bullish Preference: Buy position is envisaged if price trades above 104.148 with take profit at 104.241
Bearish Preference: Sell position is envisaged if price trades below 103.909 with take profit at 103.796
PPI m/m (US) 2:30 PM
Core PPI m/m (US) 2:30 PM
Comment: The dollar was down on Friday morning in Asia, after investors retreated from the safe-haven asset amid growing hopes of a COVID-19 recovery. Though there has been no reaction to the news yet in quiet pre-Asia trade, the news might give a boost to the likes of US equities and commodities, something which could weigh on USD/JPY.
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