AUDUSD has broken the Ascending channel in Downside
Since 2016, the US has waged a trade war against many countries in the world in an attempt to reduce its trade deficit and protect its domestic industries. However, apart from increasing the burden on consumers, the US trade deficit has hit a record high.
XAUUSD Gold price is moving in an Ascending channel and the market has reached the higher high area of the channel.
A Twitter account operated by the Russian Embassy in Sweden posted a map identifying Crimea as part of Ukraine. It is believed that Russia accidentally overlooked this key part of the map. However, Ukrainians are taking this as a win against the Kremlin.
USDCHF is moving in the Descending channel and the market has rebounded from the lower low area of the channel.
The Swiss authorities have decided to reject the citizenship application of a national of France after he was found guilty of driving twice the permitted speed limit. Nonetheless, after he was caught driving at 80km/h in an area with a speed limit of 40km/h in 2017.
EURUSD is moving in the Box pattern and the market has rebounded from the horizontal support area of the pattern
The European Union still believes President Joe Biden’s Inflation Reduction Act discriminates against companies in the bloc. It was met with swift criticism from EU member states, who feel that a host of its provisions threaten the European industry.
GBPNZD is moving in the Descending channel and the market has reached the lower-high area of the channel.
Ireland’s finance minister spoke of the new optimism surrounding talks between the UK and the EU following months of bitter post-Brexit trade disputes. One clause in the Brexit deal makes it mandatory to conduct checks on goods coming from Ireland, which has severed ties.
GBPCHF is moving in an Ascending channel and the market has reached the higher low area of the channel.
Switzerland is set to impose a 15% tax on international companies operating in the country. However, the US is opposed to this decision since it has several countries operating in the country. Despite this, the Swiss nation says that it will go forward with its decision.
AUDCAD is moving in an ascending channel and the market has reached the higher low area of the channel
The Canadian government enforced a two-year ban prohibiting certain foreign home buyers from buying houses throughout Canada. This ban does not apply to Canadian citizens, permanent residents living in Canada, refugees, or diplomats.
AUDJPY is moving in the Descending channel and the market has fallen from the lower high area of the channel
Australia has boasted it has overseen the best jobs growth of any new government in 50 years, but chief executives are fearful of finding workers in 2023. 234,000 more people were employed in November than when Labor was elected in May, an increase of 1.7%.
AUDCHF has broken the Ascending channel in Downside.
Credit Suisse is seeing a sharp reduction in client outflows as it struggles with its major strategic overhaul. The bank in November projected a $1.6 billion fourth-quarter loss which has been devasting for both directors and investors in the organization.
Crude Oil Analysis
Crude Oil is moving in an Ascending triangle pattern and the market has fallen from the resistance area of the pattern.
While the Chinese get to enjoy an economic recovery after the end of their COVID ordeal, the Americans are not too pleased. The Chinese recovery means that the Feds may have to hike their interest rates for longer than expected to bring down inflation.
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