04.11.24 - 08.11.24
Results of the previous week
| TSLA +32.27% | TF +8.96% | SOYBEAN +4.12% |
VIX -21.51% | PA -7.56% | EURUSD -1.49% |
Markets had a pretty volatile week. The announcement that Trump won the US presidential election provided US indices with significant support. The S&P 500 and Nasdaq set new all-time highs. Another factor pushing indices upward was the US Federal Reserve's decision to lower its key interest rate.
In the forex market, the dollar strengthened against most of the other major currencies on Wednesday. The euro, pound sterling and gold all lost ground after news emerged that Donald Trump was leading in the vote count. The pressure on the pound was enhanced by the Bank of England's decision to cut its interest rate. The victory of the Republican candidate, who's favourable to digital assets, pushed cryptocurrencies upward, too. Bitcoin set a new all-time high above $76,000.
Brent crude oil prices are consolidating around $74 per barrel. Several factors are helping them remain stable. These include OPEC+ countries' decision to delay the start of a gradual increase in oil production by one month, the US Federal Reserve's quantitative easing and a hurricane that formed in the Gulf of Mexico, which led to work at several drilling sites.
Key events of the current week
The UK. Unemployment figures | DATE 12.11 | GMT | FORECAST | PREV. | IMPORTANCE |
Citizens' wealth plays an important role in any country's economy. Domestic consumption contributes a great deal to gross domestic production. That's why the labour market is such an important indicator of an economy's health. In the United Kingdom, the unemployment rate has been falling the last few months. However, during the reporting period, global analysts expect this trend to change. They forecast the unemployment rate to rise to 4.1% while new jobs will drop. This is bad news for the British economy and the pound sterling. Against this backdrop, the Cable could continue to drop to somewhere around 1.2840. | |||||
The US. Inflation rate | DATE 13.11 | GMT | FORECAST | PREV. | IMPORTANCE |
The US Federal Reserve cut its key interest rate again at its latest meeting. In comments after the meeting, the chairman of the Federal Reserve announced that future monetary policy decisions will be made based on incoming macroeconomic information. The inflation rate is one important report that regulator pays attention to. Global analysts expect US inflation to rise to 2.6% from the previous value of 2.4%. This is good news for the dollar since this movement would force the Fed to pause its rate cuts, but it's bad news for dollar-denominated assets such as gold. Against this background, XAU/USD may continue to decline towards 2630.00. | |||||
The US. Retail sales | DATE 15.11 | GMT | FORECAST | PREV. | IMPORTANCE |
Retail sales reflect the sale of all retail goods and services. The indicator essentially makes it possible to assess people's willingness to spend money. Global analysts expect the indicator's growth to slow month over month during the reporting period. This is a worrying sign that demand is falling as a result of people's uncertainty about their future. Signs that the US economy is cooling are unfavourable for the dollar since it pushes the Federal Reserve to cut interest rates. In this scenario, USD/JPY could decline to 151,30. | |||||
