4 Global Market Updates- 25 November, 2022

 In this article, we have covered the highlights of global market news about the AUD/USD, NZD/USD, GBP/USD and USD/JPY.

AUD/USD eases off a one-week high, and any decline is restricted given a lower US dollar.

After retesting the high of November 15–16 in the 0.6780s, the AUD/USD pair fails to build on its gains over the previous three trading sessions and falls from a one-week high reached earlier this Friday. The pair is trading around the mid-0.6700s and has been doing so during the early European session. However, any further decline is unlikely.

The current uptick in market optimism is restrained by concerns about the deteriorating COVID-19 situation in China, which is terrible news for the risk-averse Australian dollar. China implemented stringent restrictions in several important cities after a record-high increase in daily COVID-19 cases. As a result, worries of a future downturn in economic activity increase, and investors’ interest in assets seen as higher risk decreases.

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