Market Overview - Page 38

Oil prices have started the week at the lower end of the trading range, potentially leading to a sharp decline or rebound. Natural gas prices started the week near upper boundary of this year training range.

This week, we’re tracking the US Dollar’s powerful climb following Trump’s victory, hitting a crucial resistance level. Meanwhile, the British Pound and Euro face fresh challenges amid economic shifts. On the crypto scene, Bitcoin and altcoins are pushing the market.

Next week, several countries including Canada, the UK, and Japan will release their estimates of consumer inflation. Additionally, Flash PMI reading may determine the fate of the euro in the coming month.

Investors have been selling off gold, with this week's drop being the largest in three years. The decline could continue, with a potential pullback to $2,400 by the end of the year. If the price falls below the 50-week moving average, it could trigger further losses.

The Hang Seng Index has fallen 20% from its peak, marking the start of a bear market. The index has two peaks in the same area, indicating the possibility of further declines in the medium term.

The S&P500 reached the 6000 mark but faced resistance due to fatigue and dollar appreciation. A pullback in US indices occurred, possibly due to profit-taking, with potential correction targets at 5900 and 5670-5700.

The US dollar has strengthened, reaching the upper boundary of its trading range. The British pound has fallen, and the euro has been selling off, with EURUSD falling to 1.05.

– WTI crude oil reversed from the multi-year support level 66.70 – Likely to rise to resistance level 70.00 WTI crude oil recently reversed up from the powerful multi-year support level 66.70 (which has been repeatedly reversing WTI from the.

Japanese inflation is rising, with corporate goods prices inflation accelerating to 3.4% y/y in October, surpassing expectations. Higher inflation could potentially lead to a decline in the yen amidst concerns about the currency losing value as BoJ avoid tightening.

US CPI went in line with expectations, but this hasn't changed the outlook for the Federal Reserve to cut rates in December and possibly further, despite inflation being above the target.

The British pound has been losing ground against the dollar due to weak macroeconomic data, including a rise in unemployment and a slowdown in wage growth. There is potential for further decline, possibly below 1.2000.

📈 Since the election, markets are buzzing with movement, bringing exciting trading opportunities! Here’s a quick look at the latest highlights: 🚀 Crypto Surge: Bitcoin is up +30% this week, Ethereum +40%, and Dogecoin is leading with an incredible +154%! 🥇.