News and analysis

USD/CAD may test the November high (1.4178) as it appears to be defending the rally following the US election.

Both USD/JPY and EUR/JPY have sold off over the past week and with the BoJ policy review expected in a couple of weeks, Yen-strength scenarios seem to be gaining steam.

Gold just finished its worst month in more than a year, and Bitcoin was a big beneficiary as anti-fiat flows drove into crypto-currencies following the Presidential election win of Donald Trump.

AUD/USD approaches the November low (0.6434) as it gives back a three-day rally.

EUR/USD and AUD/USD are heading into their strongest month, hinting at rally potential after November drops.

This could be a pivotal week for the crude oil. With key US economic data on the horizon and the OPEC+ meeting later this week to discuss oil production targets, market participants are bracing for significant developments.

U.S. stocks are heading for a modestly strong start to December after posting solid gains in the previous month. The mood is cautiously upbeat as traders return from the extended Thanksgiving weekend break, despite more trade tariifs threats from Trump over the weekend. This week is a busy week for economic data, with Friday's NFP a kay focus ahead of the December Fed meeting.

With a jam-packed calendar this week, including, ISM Manufacturing and Services PMIs, the closely watched JOLTS Job Openings report, and the monthly Non-Farm Payrolls report to come, traders are bracing for volatility. These data points are expected to influence the USD/JPY forecast, especially with both the Fed and BoJ policy decisions looming in December.

EUR/USD falls amid French political uncertainty, FTSE inches higher after strong Chinese manufacturing data, but UK data disappoints.