GemForex - weekly analysis
A week of consolidation Ahead amid renewed USD strength
Mohicans markets：November 21-European Perspective
On Monday, November 21, Beijing time, during the Asian and European session, spot gold shock weakness, once hit a new low of more than a week to $ 1743.59 per ounce. Last week a number of Fed officials delivered hawkish speeches, and even some officials affirmed the possibility of another 75 basis point rate hike in December.
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Mohicans markets：MHM Today’s News
On Friday, November 18, the dollar index in the European shares in the morning session to refresh the daily low fell below 106.40; in the U.S. stocks at midday to get rid of the decline approaching 107, but by the end of the day failed to recover the mark, closing up 0.26% at 106.97, up two days in a row, ending a four-week losing streak.
Japan Inflation Hits 40-Year High As BOJ Sticks To Easy Policy TOKYO
Japan’s inflation hit its fastest clip in 40 years in October, an outcome that further stretches the credibility of the central bank’s view that continued stimulus is needed to secure stable price growth. The national core consumer price index (CPI) rose 3.6% a year earlier, exceeding the 3.5% gain economists had hoped for and the 3.0% rise seen in September.
Prices of Gold and Crude Oil Fall as US Dollar Strengthens. the WTI Triangle Breakout is in focus
COMMODITIES BRIEFING: GOLD, XAU/USD, CRUDE OIL, WTI, US DOLLAR, AND ASCENDING TRIANGLE
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Mohicans markets：11.18-MHM European Perspective
On Wednesday, November 2, Beijing time, in the morning of Asian market, spot gold fluctuated in a narrow range. At present, around 1763.57 US dollars/ounce is traded. In the past week, more than one Federal Reserve officials made hawkish speeches, which suppressed the expectation of the Federal Reserve's policy shift, putting pressure on gold prices.
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Mohicans markets：MHM Today News
On Thursday, November 17, several officials of the Federal Reserve made statements suggesting that the interest rate hike was far from over. Last week, the number of Americans who applied for unemployment benefits for the first time did not increase, but fell.
Oil Continues Bearish as Geopolitical Uncertainty Eases
The “Russian-made” missile that exploded in Poland has been reported to originate from Ukraine.
Gold is At It’s Highest Level, Supported by Inflation Data
It was known that A stronger dollar makes gold less attractive for other currency holders, while higher U.S. interest rates and yields increase the opportunity cost of holding bullion, which is also used as a hedge against inflationary pressures. Recently, prices of Gold were flat at a three-month high based on data. In the trading session of Tuesday (15/November) tonight, spot gold prices stabilized at around $1,772.19 per ounce at 15:23 GMT.
Mohicans markets：11.17-MHM European Perspective
On Thursday, November 17, Beijing time, during the Asian European session, spot gold was volatile and weak, falling by 0.9% at one time, hitting a new low of 1761.35 US dollars/ounce in three trading days. On the one hand, the market's concern about the possible escalation of the geopolitical situation cooled.
UK inflation data beats market expectations rising to 11.1%
British inflation has accelerated to the highest level for 41 years, driven by soaring energy, food and transport prices in a worsening cost-of-living crisis, according to official data. The Consumer Prices Index hit 11.1 percent in October, reaching the highest level since 1981, the Office for National Statistics (ONS) said in a statement on Wednesday.
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AUDJPY, AUDUSD, EURJPY, EURUSD, GBPJPY, GBPUSD, NZDJPY, USDCAD, USD Index, Gold, & S&P 500 Analysis.
Check Below the key trading levels for AUDJPY, AUDUSD, EURJPY, EURUSD, GBPJPY, GBPUSD, NZDJPY, NZDUSD, USDCAD, USDJPY, USD Index, Gold, and S&P 500.
European stocks mixed; investors digest missile strike, UK CPI, corporate earnings
European stocks fell at the opening as investigations continued into the origin of a missile strike on Poland overnight that killed two people amid a Russian bombardment of Ukraine and investors digested the highest UK inflation figure for 41 years.
Mohicans markets：MHM Today News
On Wednesday, November 16, as the Polish missile explosion cooled down, the market demand for risk aversion declined, and the dollar index broke the 106 mark in the session. After the release of the unexpected US retail sales data, it rebounded, returned to above 106, and finally closed 0.27% lower at 106.28.
Early Morning Call: equity markets hesitant as DAX enters bull market
European equity markets aren't showing any real direction after the German DAX entered bull market territory.
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