Thanks to the weakness of the USD, the AUD has rebounded strongly in the near term. It turned upward in the middle term, but the rebound is suppressed in the short term, and there is the possibility of repeated adjustments.

The domestic pandemic has deteriorated in stages, and pessimism about economic fundamentals has re-emerged. Coupled with the hawkish statements of Fed officials, the depreciation trend of the RMB in the short term can hardly change.

The collapse of the FTX has dragged Bitcoin into a massive drop after breaking the level. Bitcoin's technicals have been severely damaged and remain weakly oscillating in the short term, and further declines cannot be ruled out.

Fed officials release hawkish remarks. Meanwhile, China's domestic pandemic has worsened, and demand concerns have suppressed copper prices. Since the optimistic expectations ignited in early November have retreated, it is feasible to go short with the trend in the short term.

With the minutes of the Fed's November meeting to be released during the day, the market is expecting to hear any talk of a slowdown in rate hikes. However, since the November policy meeting and recent trading days, Fed officials have repeatedly suppressed market expectations, and even if they talk about slowing down interest rate hikes, the wording will probably be quite strict and will not give the market any room for speculation. In other words, the minutes of this meeting may disappoint the market, or even suppress market expectations again.

Given the slack that persists in the economy, bullish positions in the pound are limited. And the dollar still has the potential to go strong in the short term, putting further pressure on the pound.