Forex Marketz Daily Forex News – Fully Markets Update
Good morning and welcome to CupO’Forex. This is David Frank with your daily video analysis for Tuesday, November 25.
There is a lot of data coming out today and we need to focus on what is really important. There was some news out of China and Bank of Japan’s Governor Kuroda gave a speech. Nothing too big and nothing missed the mark. Asian markets are mostly hire as we write this report.
This afternoon Germany will come out with harmonized GDP. We are expecting the number to meet or come n slightly lower than expected. The most important news today is coming out of the United States as we will get its third quarter GDP number. We are hoping for no surprises as that will lead to market volatility. Expectations are to meet the 3.3 percent growth level for the third quarter. Just after this, we will get consumer confidence data. We are expecting this number to come in at expectations with no surprise.
Bottom line, traders are watching and listening for surprises today.
Looking at our technical analysis this morning, The USD/JPY is losing momentum and has broken below the rising trend line. We could be eyeing support levels as the trading day continues.
Have a a great day and we will see you tomorrow.