{"id":74073,"date":"2023-11-30T10:57:24","date_gmt":"2023-11-30T08:57:24","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=74073"},"modified":"2025-12-11T16:30:47","modified_gmt":"2025-12-11T14:30:47","slug":"usd-bears-hesitate","status":"publish","type":"post","link":"https:\/\/www.ironfx-cn.com\/ms\/usd-bears-hesitate\/","title":{"rendered":"USD Bears hesitate?"},"content":{"rendered":"<p>The USD seems to have shown some signs of stabilisation yesterday against its counterparts after a wide drop over the past two weeks, yet the bears seem to be still around. The weakening of US yields over the past few days may have been fuelling USD bears as may have comments from Fed policymakers regarding a possible pivot in the bank\u2019s stance. Similarly, US stock markets seem to be stabilising, as they send out mixed signals, in an effort to digest the gains made over the past month. Today we expect market attention to fall on the release of the US Core PCE Price index for October, the Fed\u2019s favourite inflation measure. Any deceleration beyond market expectations, could weaken the USD as it could solidify the view that the bank has reached its terminal rate and the next possible move would be a rate cut in the spring next year.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"OPEC+ meeting is expected to take place today\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/oFiWhHcKnas?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>North of the US border we note the release of Canada\u2019s GDP rate for Q3 and the rate is expected to accelerate beyond stagnation levels and if actually so could provide some support for the Loonie as it would signal that the Canadian economy has avoided a recession. Yet Loonie traders are also expected to keep a close eye on oil prices, especially given OPEC\u2019s meeting today and a possible rise of oil prices could provide some support for the CAD.<\/p>\n\n\n\n<p>USD\/CAD tended to remain above the 1.3570 (S1) support line yesterday. As the pair has broken the downward trendline guiding it since the 24<sup>th<\/sup> of November with a steepened slope, we temporarily switch our bearish outlook in favour of a sideways motion bias. Yet the RSI indicator remains between the reading of 50 and 30, implying the presence of a residue of bearishness in the market sentiment. Should a selling interest be expressed by the market, we may see the pair breaching the 1.3570 (S1) support line and aim for the 1.3485 (S) support level. Should on the other hand the pair find extensive buying orders along its path, we may see USD\/CAD aiming if not breaching the 1.3690 (R1) resistance nest.&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\"><strong>Other highlights for the day:<\/strong><\/h2>\n\n\n\n<p>Today in the European session, we get Turkey\u2019s GDP rate for Q3, France\u2019s Final GDP rate for Q3, France\u2019s&nbsp; Preliminary HICP rate for November and their Producer prices figure for October, followed by Switzerland\u2019s KOF indicator figure, Germany\u2019s Unemployment rate and the Eurozone\u2019s Preliminary HICP rate all for the month of November, followed by the Eurozone\u2019s Unemployment rate for October.&nbsp; We tend to expect higher volatility for EUR pairs given the high number of high-impact financial releases stemming from the Eurozone. We single out the inflation measures as well as France\u2019s GDP rate for Q3 as key data to watch out.<\/p>\n\n\n\n<p>On a technical level, we note that EUR\/USD remained just above the 1.0960 (S1) support line. Yet the pair\u2019s price action seems to be on a collision course with the upward trendline which has been guiding throughout the current month, threatening to break it and signal a possible interruption of the upward movement. Should the bulls maintain control over the pair\u2019s direction, we may see it aiming for the 1.1065 (R1) resistance line. Should the bears take over, we may see the pair breaking the prementioned upward trendline, signalling an end to the upward movement, break the 1.0960 (S1) support line and aim for the 1.0835 (S2) level. &nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>During the American session, we highlight the US Core PCE rates for October, the US weekly initial jobless claims figure and finishing off the American session is Canada\u2019s GDP rates for Q3. In tomorrow\u2019s Asian session, we note Australia\u2019s Final Judo bank manufacturing PMI figure for November, Japan\u2019s Unemployment rate for October and their Final JibunBK Manufacturing figure for November. Lastly, we note China\u2019s Final Caixin manufacturing PMI figure for November. On a monetary note, we highlight the speeches by ECB\u2019s Lagarde, Enria, and McCaul, New York Fed President William\u2019s and BoE member Greene, which are all set to take place during today\u2019s American session.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-eur-usd-4-hour-chart\"><strong>EUR\/USD 4 Hour Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/11\/image-149.png\" alt=\"support one point zero eight three five and resistance at one point zero nine six, direction upwards     \" class=\"wp-image-74075\" title=\"eur-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 1.0960 (S1), 1.0835 (S2), 1.0735 (S3)<\/p>\n\n\n\n<p>Resistance: 1.1065 (R1), 1.1150 (R2), 1.1270 (R3) <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-usd-cad-4-hour-chart\"><strong>USD\/CAD 4 Hour Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/11\/image-150.png\" alt=\"support at one point three five seven and resistance at one point three six nine, direction sideways      \" class=\"wp-image-74076\" title=\"usd-cad-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 1.3570 (S1), 1.3485 (S2), 1.3380 (S3)<\/p>\n\n\n\n<p>Resistance: 1.3690 (R1), 1.3800 (R2), 1.3900 (R3)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"2003\" height=\"488\" src=\"\/wp-content\/uploads\/2023\/11\/image-151.png\" alt=\"\" class=\"wp-image-74078\" title=\"benchmark-30-11-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1106\" height=\"627\" src=\"\/wp-content\/uploads\/2023\/11\/image-154.png\" alt=\"\" class=\"wp-image-74081\" title=\"table-30-11-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1529\" height=\"1133\" src=\"\/wp-content\/uploads\/2023\/11\/image-152.png\" alt=\"\" class=\"wp-image-74079\" title=\"morning-releases-30-11-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"754\" height=\"521\" src=\"\/wp-content\/uploads\/2023\/11\/image-153.png\" alt=\"\" class=\"wp-image-74080\" title=\"morning-releases-30-11-2023\"\/><\/figure>\n\n\n\n<p class=\"translation-block\">If you have any general queries or comments relating to this article please send an email directly to our Research team at <a href=\"mailto:research_team@ironfx.com\" target=\"_self\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Disclaimer:<br>This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.<\/p>","protected":false},"excerpt":{"rendered":"<p>The USD seems to have shown some signs of stabilisation yesterday against its counterparts after a wide drop over the<\/p>","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-74073","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>USD Bears Hesitate as Markets Eye Core PCE<\/title>\n<meta name=\"description\" content=\"USD bears pause as markets await Core PCE and Canada GDP, with inflation signals and yields set to shape the greenback\u2019s next move.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/ms\/wp-json\/wp\/v2\/posts\/74073\/\" \/>\n<meta property=\"og:locale\" content=\"ms_MY\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USD Bears hesitate?\" \/>\n<meta property=\"og:description\" content=\"USD bears pause as markets await Core PCE and Canada GDP, with inflation signals and yields set to shape the greenback\u2019s next move.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-cn.com\/ms\/usd-bears-hesitate\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-30T08:57:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-11T14:30:47+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/usd-bears-hesitate\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/usd-bears-hesitate\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"USD Bears hesitate?\",\"datePublished\":\"2023-11-30T08:57:24+00:00\",\"dateModified\":\"2025-12-11T14:30:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/usd-bears-hesitate\\\/\"},\"wordCount\":792,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/#organization\"},\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"ms-MY\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/usd-bears-hesitate\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/usd-bears-hesitate\\\/\",\"name\":\"USD Bears Hesitate as Markets Eye Core PCE\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/#website\"},\"datePublished\":\"2023-11-30T08:57:24+00:00\",\"dateModified\":\"2025-12-11T14:30:47+00:00\",\"description\":\"USD bears pause as markets await Core PCE and Canada GDP, with inflation signals and yields set to shape the greenback\u2019s next move.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/usd-bears-hesitate\\\/#breadcrumb\"},\"inLanguage\":\"ms-MY\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/usd-bears-hesitate\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/usd-bears-hesitate\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"USD Bears hesitate?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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