Action Insight Daily Report 11-23-23

Eurozone and UK PMIs Grab the Limelight in Thanksgiving Quietude

Global financial markets are experiencing subdued activity in Asian session today, with market participants scaling back their activity in light of Thanksgiving holiday. Major US stock indexes managed to close higher overnight, yet there's a palpable reluctance among investors to propel these indexes to new highs for the year. In contrast, Asian markets are demonstrating mixed reactions, oscillating within tight ranges without clear directional trends.

The commodities market is seeing some interesting movements. Gold has retreated below 2000 psychological level, after failing to break through its October high. This pullback might reflect a combination of profit-taking and market reassessment of Gold's near-term path. Oil prices are also experiencing limited movement, remaining in a narrow range. This stagnation follows news that OPEC+ is postponing its meeting, which has introduced uncertainty regarding future output cuts and consequently influenced oil prices...

Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol

GBP/JPY Daily Outlook

Daily Pivots: (S1) 185.98; (P) 186.51; (R1) 187.37; More...

Intraday bias in GBP/JPY remains mildly on the upside at this point. Rebound from 184.44 would extend to retest 188.26 high first. Decisive break there will resume larger up trend. On the downside though, below 184.44 support will resume the fall from 188.26 to 183.79 resistance turned support.

EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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