Fundamental analysis GBPUSD, EURUSD, NZDUSD, AUDUSD, USDCAD, XAUUSD, Brent, WTI for 22.11.2021

The US dollar continued to strengthen on Monday. Macroeconomic statistics indicate a strong U.S. economic recovery. The Fed is discussing options to accelerate the withdrawal of monetary stimulus. At the end of last week, two members of the committee Waller and Clarida at once spoke in favor of accelerating the rollback of QE, with Christopher Waller recommending to roll back the program in the first quarter of 2022 to begin tightening monetary policy in the second quarter.

EUR/USD has renewed its 2021 lows again. The heavy epidemiological situation has forced Austria to return to a full lockdown. Germany will also tighten its distancing measures in the near future. Therefore, Investizo expects a slowdown of GDP in the Eurozone in the fourth quarter. Moreover, there is a high probability that the ECB will refuse to curtail its emergency monetary stimulus program.

GBP/USD lost about 50 pips in the second half of the day after the release of strong U.S. housing market statistics. There were 6.34 million home sales in the U.S. during October, which was much better than the preliminary forecast. GBP has not exhausted the growth potential, the market participants are waiting for the release of UK business activity statistics.

AUD was the only currency, which showed minimal positive dynamics against the dollar on Monday. The Australian dollar kept in the positive zone thanks to the National Bank of China keeping a credit rate. NZD/USD is weakening amid a difficult epidemiological situation in New Zeland. The USD/CAD broke through the strong psychological level of 1.2600 but the pair's upside potential was limited by the recovery in the hydrocarbons market. Investizo allows further strengthening to the range of 1.2780-1.2815 before the end of the month.

Brent and WTI slowed their fall today. The main pressure on the hydrocarbons market was the willingness of the United States, Japan and China to start selling their own strategic reserves to combat high energy prices.

Gold continues to decline after a large volume of long positions were fixed on Friday. The XAU/USD is still above 1800, at the same time today's drop was the biggest intraday drop of November.