Zusammenfassung：At the end of the Asian market on Thursday (November 16), the US Department of Commerce released data on the 15th local time, showing that US October retail sales decreased by 0.1% month on month, which was the first decline since March of this year.
At the end of the Asian market on Thursday (November 16), the US Department of Commerce released data on the 15th local time, showing that US October retail sales decreased by 0.1% month on month, which was the first decline since March of this year. Data shows that September retail sales increased by 0.9% month on month after correction, while October retail sales decreased by 0.1% month on month, ending six consecutive months of growth, but the decline was smaller than expected. After the data was released, the US dollar index rose slightly and closed near its high point. At the opening of the Asian market today, the US dollar index continued to rise, with a current price around 104.51. Gold was affected by fundamental expectations yesterday, accelerating its downward trend during the US session and ultimately closing near the intraday low. During today's Asian market, gold was hindered from falling below 1956.42 and regained its losses. The current price is around 1964.06. Due to weak global demand and the risk premium caused by the conflict between Pakistan and Israel, crude oil has continued to decline recently. Yesterday, the US crude oil correction was hindered and turned downward, continuing the previous bearish trend and ultimately closing near the intraday low. At the opening of the Asian market today, US crude oil continued to decline, with current prices around 76.20 and Brent crude oil around 80.55. The European Commission stated on Wednesday that the losses caused by rapid interest rate hikes are more severe than expected. Europe's economic growth will be lower than expected, while the deterioration of the situation in the Middle East may further weaken its economic prospects. The European Commission has now lowered its growth forecast for the European Union and the Eurozone for 2023 from 0.8% in September to 0.6%. The European Commission pointed out that due to high employment rates and declining inflation, the European economy will experience a mild rebound next year, and predicts that the Eurozone economy, which includes 20 EU member states, will grow by 1.2% in 2024, while the EU as a whole will grow by 1.3%. EURUSD made a slight correction and consolidation yesterday, but overall fell in the Asian market today and fell below yesterday's lowest point. The current quotation is around 1.0840. The trade statistics released by the Japanese Ministry of Finance on the 16th showed that Japan's trade deficit in October reached 662.5 billion yen, a year-on-year decrease of 70%. The Chief Economist of Japan's First Life Economics Research Institute, Toshihiro Nagahama, stated that the depreciation of the yen and high energy prices in the international market still pose pressure on imports. USDJPY suffered a significant correction in prices yesterday due to the impact of US market data, and closed near the intraday high yesterday. At the opening of the Asian market today, USDJPY was slightly sideways, with a current quotation around 151.34.
MHMarkets strategy is only for reference and not for investment advice. Please carefully read the statement at the end of the text. The following strategy will be updated at 15:00 on November 16, Beijing time.
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