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Deutsche Bank: It's time to sell the most overvalued currency in the world

Currency strategists at Deutsche Bank, who already have in their portfolio short positions in Australian dollar against the Canadian, think it's time to consider selling AUD against the US Dollar.
Changes in the technical picture confirms the inability of the bulls to take advantage of this initiative, while improving the economic prospects of the United States after the victory of Trump and negative signals from data from Australia showed that the fundamental picture favors lowering. At Deutsche Bank paying attention to the weakening of wage growth in Australia and the general deterioration of the situation on the labor market in the country, which in the opinion of the analysts of the bank will cause the Reserve Bank of Australia to lower interest rates again in the first half of 2017.
In addition, DB doubt the recent rally in commodity assets as the bank's strategists do not believe that the movement reflects the real situation in the economy and therefore do not believe in its stability.
DB's analysts do not expect a noticeable improvement of the situation with the trade balance in Australia and also remind about the risks of China, which continue to maintain a policy of gradual devaluation of the yuan. From the bank also advise not to forget that with the arrival of Donald Trump at the White House it could be expecteda  deterioration in the trade disputes between the US and China.
At the bank believe that in given circumstances from the Australian currency can be expected a resumption of downward momentum, as the Australian dollar could be called the most overvalued currency in the world.

Three-week rally in the dollar against the yen is the biggest since 1995

Today is Friday - the last trading day of the week. If the dollar against the yen at the moment ended the day near current levels, this would be the most significant three-week rise since 1995 of the US dollar against Japanese rival, analysts say.
The opening of the markets after the celebration of Thanksgiving in the US was marked by continued growth in yields of US Treasury bonds. This pushed the USD/JPY up in Asian session, they added.
Markets calculated in the price the likelyhood of raising interest rates by the Federal Reserve in December long ago. But the flow of strong economic data continues to affect positive mood. Currently 64% of market participants expect another increase in US interest rates until June 2017, except for December, analysts reported. Earlier this week, the probability was 58 percent and half month ago - twice as low.
Technically USD/JPY now appears extremely overbought. 14-day indicator RSI (relative strength index) for 10 consecutive sessions held in the area more than 70%. Moreover, there are no signs of a possible reversal or correction, analysts conclude.

The dollar steadied after pre-holiday growth

The dollar stabilized in the course of trading on Thursday, breaking the majority of last year's highs against the euro.
Given the fact that US markets are closed because of Thanksgiving Day, trading activity was low yesterday after the dollar set a series of new highs early in the session in Europe, expanding its growth after strong economic data from the United States published on Wednesday.
The US currency hit an eight-month peak against the Japanese yen and the high of nearly 14 years to a basket of six major rivals.
In addition, the dollar renewed record highs in a number of emerging market currencies, including the Indian rupee, the Turkish lira and the offshore renminbi trading in which are held outside of mainland China.
The dollar's rise is largely due to expectations that the policy of Donald Trump will stimulate inflation, which will lead to an increase in Fed interest rates and potentially increase the inflow of capital into the country.
In developed markets, most strongly affected by the election of Trump is the yen. It fell by 0.6 percent to 113.15.
The euro is trading around the level of $1.0572 after falling to a low of $ 1.0518, while the dollar index held near 101.58, retreating from the morning peak 102.05.

Nikkei is up for the 6th consecutive session due to the strengthening of the dollar against the yen

Japan's Nikkei index rose for the sixth consecutive session on Thursday because of hopes for growth of earnings of Japanese exporters against the background of rise of the dollar against the yen.
The dollar rose after upbeat economic data in the US, which further strengthened the likelihood of the Fed raising rates.
Nikkei closed the trading session rising by 0.9 percent to 18.333.41 points.
The broader Topix index also gained 0.9 percent, ending trading session at 1.459,96 points and showing an increase for 10th consecutive session.
Index JPX-Nikkei 400 gained 0.9 percent to 13.105,50 points.
USD/JPY is currently trading at 113.32 yens per dollar.

Dollar once again attacking highs

On world markets the dollar once again attacking highs: against the euro the US currency reached a mark of 1.054, while the dollar index rose to new multi-year highs.
Published data on reserves and production of oil in the United States did not changed the situation significantly: oil quotes reaction was mixed, but in general the price of oil in the first minutes remained in a narrow range of $49,20-49,40 per barrel after statistics. It did not lead to significant fluctuations in the domestic market.
Keeping in mind the outcome of the upcoming meeting of representatives of OPEC in late November, investors continue very painfully to react to any hints in favor of tightening of US interest policy.
USD/JPY easily overcomed 111.00 level and is now heading to new highs.

Dow Jones Industrial Average for the first time rose above 19,000 points

Indexes in Europe recorded gains supported by growth in the oil price and positivism overseas. The price of oil reached a month high today amid expectations that OPEC will agree to limit yields. The market continues to be sensitive to comments from OPEC members, but expectations for an agreement are growing, despite opposition from Iraq and Iran.
German DAX 30 ended with an increase of +0.27% at the level of 10713 points. Here the gains came from stocks of Thyssenkrupp who have added +2.85%, followed by Deutsche Telekom with a daily increase of +1.67%.
Britain's FTSE 100 rose by +0.62%, closing the session at 6819 points.
France's CAC 40 also ended at green area adding +0.41% to close at 4548.35 points.
Dow Jones, S&P500 and Nasdaq ended the session on Tuesday at record high levels. For the first time since March 1998 indices ended for second consecutive trading session, both reaching a record at once.
The data showed that existing home sales rose in October by 2% annual growth to 5.6 million units, the highest level in nine years and a half.
S&P500 also reached a record, rising above 2200 points, leading sectors are real estate and energy, recording daily growth of +0.22%. It closed at 2202.94 points.
Technological Nasdaq Composite added +0.33%, closing the day trading at a level of 5386.35 points.