It’s a data-packed day, with the main focus in Europe on November’s German CPI, followed by U.S. pending home sales for October and November’s Dallas Fed manufacturing activity in the evening. The two-day OPEC general Assembly officially opens today. It is reported that the informal meeting of OPEC+ on Sunday failed to reach a consensus on whether to postpone the planned production increase, leaving the decision to be made at the full meeting of ministers early this week. Therefore, we will closely watch the volatility of crude oil prices during the meeting. [Today’s Financial Data and Events] 18:00 European Central Bank President Christine Lagarde speaks 21:00 Preliminary German CPI m/m for November 21:30 Canadian third quarter current account 22:45 US Chicago PMI for November 23:00 US existing home sales index for October 23:30 US Dallas Fed Business Activity Index for November Eur/USD: 0-3 spread The euro/dollar recorded two straight weekly gains last week and is the highest since August, the intraday exchange rate continued to surge this morning. Watch for ECB President Christine Lagarde’s speech at 18:00 and the Eurogroup meeting today. Watch for news related to the economic outlook. On the data front, watch for German November CPI preliminary (expected decline moderated). The technical break above the uptrend channel top since 11/11, fresh above the high since 9/1, targets 1.2006 above 1.20 if initial resistance at 1.1985 can be broken. 1.1985/1.2006 Resistance, 1.1939/1.1919 support Gbpusd: 0-3 spread Sterling was up this morning after falling for two straight days to a four-day low against the dollar on Friday. Britain’s foreign minister said on Sunday he expected a deal could be reached this week, rekindling hopes of a deal and helping to fuel a rally in the pound as the country’s exit from the European Union approaches its penultimate four weeks. Friday’s pullback in sterling was technically supported above the 10-day moving average of 1.3300, keeping an eye on last week’s high of 1.3397 as the key resistance, but also keeping an eye on Brexit news at any time, which could trigger support to 1.3278/1.3262 if bearish. 1.3377/1.3397 resistance, 1.3278/1.3262 support Aud/USD: 0-3 spread The Aussie dollar and the New Zealand dollar extended Friday’s gains against the greenback, hitting new intraday highs since Sept. 1, while the New Zealand dollar also topped a more than two-year high after Posting four straight weekly gains last week for the first time since December. The current market sentiment is positive, is expected to continue to lead the rally. 4-hour charts show both Aussie and NZD retreating after testing uptrend line resistance since late November. A break would mean more upside opening, but if it does, watch for higher consolidation, while AUD/USD current resistance points to 0.7414/0.7428. NZD/USD bias in the consolidation below 0.7050, initial resistance temporary focus on 0.7065/0.7085, if due to obstacles to fall back to 0.7016/0.7002 support. 0.7414/0.7428 resistance, 0.7374/0.7354 support Usd/JPY: 0-3 spread Usdjpy continued its downward trend of the previous two days this morning, breaking the lowest level set on November 23 and falling below 104, as the outbreak in Japan was out of control and new cases increased, and the Nikkei index fell, dragging down USDJPY. It also technically broke below the 10-day moving average, pointing to the Nov 18 low, so watch for initial support from 103.67 and look lower at the 103.42 level where gold resets. 104.21/104.34 resistance, 103.67/103.42 support Usd/CAD: 0-3 spread Against the Canadian dollar, the U.S. dollar on Friday fell to its lowest level since Nov. 9 and is hovering near lows. Today’s OPEC+ meeting will be key in guiding crude oil prices and will also provide important guidance for the Canadian dollar. Technically, the price remains under pressure this morning, but 1.2080 is providing support for now. If it can hold, there is still a chance of a rebound to test 1.30 resistance, looking at 1.3020/1.3048 resistance. But a break could further test 1.2941 and the 1.2928 support at the Nov. 9 low. 1.3020/1.3048 resistance, 1.2941/1.2928 support Spot gold: 0.6-1.2 spread Vaccine optimism pushed stocks higher, and gold extended losses Friday, hitting its lowest level since July at $1,774.20, its biggest weekly decline since Sept. 25. Gold continued to come under pressure during the session this morning, but the downward trend in Dow futures is expected to provide support, with gold trading above $1780 for the time being, with 1798/1801 as initial resistance, supporting the 1775 support near last week’s low for the time being, and possibly lower at $1772/1768 if broken. Silver prices also remain low, need to focus on 22.17/22.08 support, resistance to 22.68/22.77. 1798/1801 Resistance, 1775/1772 support The market is risky and investment needs to be cautious. Wish you a happy transaction.