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Chicago Mercantile Exchange halts trading, sparking public outcry
The Chicago Mercantile Exchange (CME), the world’s largest financial derivatives exchange, halted trading for about 10 hours from Thursday into Friday, causing an outcry from traders before service was restored.
Trading halted due to a “cooling issue” at the CyrusOne data center in Illinois, a US state, according to an announcement from the CME. Trading was fully restored, and trading for all markets resumed at 1:30 pm UTC on Friday, the CME said in an update.
MARKET UPDATE
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CME Globex to re=open
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Newsquawk Daily US Opening News
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Forex Market Snapshot
- The dollar is trading firmer in month end and post Thanksgiving holiday shortened trading. that has been dampened by the CME outage.
- EURUSD has backed off after testing 1.16 for the third day in a row without followthrough, now dependent on 1.1545=50 holding to contain the downside
- GBPUSD has slipped as well, dependent on 132 holding to check its downside.
- JPY has lagged and stands unchanged vs. the USD on the day.
.US500 (SP500) UPDATE (DAILY)
- Month end and a thin holiday shortened session on Friday makes it hard to make a definitive call so let’s see what the chart shows
- If 6783 holds as support then keeps a bid with an eye on 6883 as a target
- If below 6783, should find support but trades with a stronger bid while above it.
DAX Index – Weekly
As Holidays are approaching, my mood becomes more positive…so let’s speculate a bit on the good side 😀
When I put the trendlines, MA’s and all other technical stuff aside and think of a possibility of positive developments in the Europe – mostly End of The War in Ukraine, I can see DAX targeting levels close to 30K.
Outrageous you might think…well, maybe but as I said – let’s be Positive for a change…
There are trillion reasons that might turn this speculation into pure crap, and it is technically easier to see Dax on Sub 20K levels….but I have never been a Doom’s Day Caller…except when it comes to EURUSD….but it’s just me
BTCUSD
Looking at this weekly chart , unless pushed by some miracle force over 100K within a week or two, Bitcoin is destined to slowly find a real footing and it might take even few months from now.
There is No some Central Bank that might intervene on some levels and all depends on what price is going to be Cheap to the Big Players.
This 74.430 is the first logical level, and if it really provides a strong support , we would be watching levels between 150 & 200 K next year.
However, there is a cheaper one – 50K – however if that would be the case Bitcoin would be on defensive quite longer…
Everything is possible when it comes to Markets, but seems to me that this is just a beginning of a big correction that might take up to two years….don’t shoot me – I am just saying what I’m seeing.
Thanksgiving holiday trading hours
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USDJPY Technical Analysis: Weakness in both currencies leads to choppy price action
Fundamental Overview
The USD weakened across the board recently following soft ADP data and a Bloomberg report saying that Hassett emerged as the frontrunner for the Fed Chair position.
The greenback was already under some pressure caused by Fed’s Williams endorsement for a December cut last Friday. The probability for a December cut is now at 76%, which generally makes it a done deal.
We won’t get much data before the FOMC meeting, so the focus will likely be mainly on jobless claims and ADP data, which haven’t been showing any strong improvement. Weak data should keep weighing on the greenback, while strong data could provide some short-term support. At the end of the day though, it’s all about the FOMC decision now and the following NFP and CPI reports.
On the JPY side, nothing has changed. The currency has been weakening since the last BoJ policy decision where the central bank left interest rates unchanged as expected with again two dissenters voting for a hike.
USDJPY daily
On the daily chart, we can see that USDJPY is bouncing near the trendline as the buyers are stepping in with a defined risk below the trendline to position for a rally into the 158.87 level. The sellers, on the other hand, will want to see the price breaking lower to pile in for a drop into the 153.50 support next.
ECB Minutes: No surprise
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