The US dollar rose, world stock markets regained ground, and Wall Street stock markets soared; Several Federal Reserve officials delivered hawkish speeches, causing gold prices to fall to a new low in nearly two weeks
The US dollar rose, world stock markets regained ground, and Wall Street stock markets soared; Several Federal Reserve officials delivered hawkish speeches, causing gold prices to fall to a new low in nearly two weeks
WCG Markets:2023-11-08
WCG Markets:2023-11-08
11/08 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
11/07 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
The US dollar was basically flat, buffered by depressed market sentiment and rising US bond yields Gold pressure reduction and consolidation
The US dollar was basically flat, buffered by depressed market sentiment and rising US bond yields Gold pressure reduction and consolidation
MHMarkets：Federal Reserve Governor Cook: The debt issue will not pose a significant threat to the US economy.
At the end of the Asian market on Tuesday (November 7), in response to the debt issue of the US government, Federal Reserve Governor Lisa Cook countered on Monday that the financial conditions of households, businesses, and banks were quite good and did not seem to pose a significant threat to the US economy.
MHMarkets：November 07, 2023--Fundamental Reminder
The dollar index recovered some ground on Monday as the market's focus turned to remarks from Fed officials including Powell, falling as low as it has since Sept. 20 before closing up 0.209% at 105.3.
WCG Markets:2023-11-07
WCG Markets:2023-11-07
USDCAD appears dicey ahead of US, Canada employment data
The risk appetite remains slightly positive despite the market’s anxiety ahead of the US and Canadian employment report for October. That being said, receding fears from Gaza join downbeat yields and fresh concerns suggesting no more rate hikes from the Fed in 2023 to weigh on the US Dollar, especially amid the recently mixed data and the Fed’s lack of hawkishness.
Some weakness for the dollar as the Fed holds rates
The Federal Open Market Committee left its funds rate on hold at 5.25-5.5% on Wednesday 1 November, as widely expected.
Goldman Sachs boosts Indian presence with record managing director promotions
Goldman Sachs (NYSE:GS) has emphasized its commitment to global expansion by announcing its largest-ever batch of promotions to the Managing Director (MD) level in India.
MHMarkets：The crisis of the US government's shutdown is approaching again, and Speaker of the House: Members of the House are busy formulating temporary measures.
At the end of the Asian market on Monday (November 6), the new Speaker of the US House of Representatives, Mike Johnson, stated that at the end of the week, representatives were busy developing a stopgap plan to continue providing funding to the US government after the deadline of November 17.
MHMarkets：November 6, 2023,--Fundamental Reminder
Last Friday, with weaker than expected US employment data and ISM services data increasing speculation about the end of the Federal Reserve's interest rate hike, the US dollar index plummeted and hit the 105 mark in the session, marking the first time since September 20. It ultimately closed down 1.017% at 105.08.
Trading Hour Schedule Changes for US Daylight Saving
Please note that in observance of the upcoming Daylight Saving Time in US, there will be changes to STARTRADER's trading schedule from 6th November 2023.
Unexpectedly Non-farm Data in the United States, with the US dollar plummeting Gold rushes high and falls back after encountering obstacles for consolidation
Unexpectedly Non-farm Data in the United States, with the US dollar plummeting Gold rushes high and falls back after encountering obstacles for consolidation
11/06 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
Zalando cuts 2023 sales forecast as demand stays weak
Europe's biggest online fashion retailer Zalando ZALG.DE sees continued pressure on demand for the rest of the year and now expects 2023 sales to decline, the company said on Wednesday as it reported weaker than expected third-quarter revenue.
Technical Analysis & Forecast for November 2023
EURUSD has completed a correction to 1.0633. A new fifth decline wave to 1.0125 could start now. Practically, the first structure of this wave is forming, targeting 1.0418. After the price reaches this level, it could correct to 1.0550 (a test from below) and then decline to 1.0277, from where the trend might continue to 1.0125.
WCG Markets:2023-11-06
WCG Markets:2023-11-06
Gold remains bearish as markets await US data, FOMC decision
The Fed day appears showing the routine pre-event anxiety and joins the Gaza woes, as well as the fresh fears about China’s economic recovery, to defend the US Dollar. However, other currencies and commodities, except for the JPY, seem less interesting amid a light calendar during the early part of the day.
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