Market Overview - Page 43

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.

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The US dollar continues to strengthen, reaching its highest level in months, fueled by policy changes and concerns over protectionist measures. The euro and Japanese yen have weakened, and further declines are expected if support levels are broken.

The oil market has a bearish outlook due to factors such as reduced supply risks and disappointing demand. Oil inventories in the US are increasing. Natural gas prices have increased due to a temporary shutdown in production, but high inventories suggest a likely downward momentum.

Political developments will impact financial markets, with the focus on policies from Trump's administration and influential Republicans. Key events include UK employment data, US consumer inflation, and China's October statistics. US retail sales and industrial production will also be monitored.

The Federal Reserve cut the key rate, causing minimal market reaction. The market predicts a decline in rates next year, making the dollar more attractive. Inflation and retail sales reports will provide further insight.

Gold has experienced a correction, losing over 5% since late October. Further declines are expected, with potential support at $2400 and a possibility of a pullback to $2000.