Current Risks for Developed Economies
Oil prices are rising while the US government is on the verge of shutting down. How will it affect the market?
Market updates on November 13
Key events ahead:
US CPI and core CPI – 15:30 MT time (12:30 GMT)
Testimony by the Fed Chair Jerome Powell – 18:00 MT time (15:00 GMT)
Speech by the RBNZ Governor Adrian Orr – 21:10 MT time (18:10 GMT)
- During the Tokyo trading hours, the RBNZ decided to leave the interest rate unchanged at 1%. The RBNZ governor noted that the policy is already very stimulating at present. The unexpected decision supported the kiwi. As a result, we’ve seen the gains of the NZD against the USD. On H4, the New Zealand dollar has been testing the 0.6403 level. The next focus for the pair will be on the further updates concerning the updates on the US-China phase one trade deal. If the news results in the risk-on sentiment, the pair will break the current resistance and move higher towards the next key level at 0.6415. After that, bulls will pay attention to the 0.6426 level. The downward momentum for the pair is limited by the 0.6391 level. The next support will be placed at 0.6369.
- EUR/USD is awaiting the release of the American indicators of inflation. On H4, the pair is trading within a downward trading channel. Yesterday’s test of the 1.1003 level did not make bears stronger, as the pair managed to recover to the 1.1015 resistance level. If the indicators of inflation for the US are greater than the forecasts, the break of the 1.1003 level will be inevitable and bears will focus on reaching the 1.0994 level. The further fall will be limited by the 1.0984 level.
- Gold has been making its steady gains since yesterday. Bulls are looking forward to the reaching of the $1,466.3 level on H4. In case of a breakout, the chances of reaching the $1,471 level are high. On the other hand, bears may try to pull the price for the yellow metal below the $1,457.6 level. In that case, the next support will lie at $1,499.8.
Similar
News for The Week
US stock markets started falling, while the US dollar is rising. What to expect from
Latest news
NFP, Oil, and US Stocks Highlight This Week
Welcome to the first week of October! As usual, at the start of the week, we are looking for valuable insights that will bring us profits in trading. Let’s observe the main events.
The US Dollar Is Correcting
Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?
Bearish Signal For The USD
XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!
