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Hello everyone, today XM Forex will bring you "[XM Forex Platform]: The US dollar stabilizes, the focus remains on the Federal Reserve." Hope this helps you! The original content is as follows:
On November 17, the U.S. dollar remained strong at the beginning of the new week, and the market reassessed the possibility of the Federal Reserve (Fed) cutting interest rates in December. In the second half of the afternoon, policymakers from major central banks will give speeches. Investors will also be keeping a close eye on Canada's October inflation report.
hawkish wzhdjgj.comments from Fed officials led investors to scale back bets on a rate cut in December. Markets now price the probability of the Fed keeping policy rates unchanged at its final meeting of the year at about 56%, up from about 37% a week ago, according to the CMEFedWatch tool. In early European trading on Monday, the U.S. dollar index edged higher to 99.50. The U.S. Bureau of Labor Statistics announced that it will release September non-farm employment data on Thursday. Meanwhile, U.S. stock index futures were last up 0.1% to 0.6% on the day. According to Reuters, U.S. Treasury Secretary Scott Bessant said over the weekend that the rare earths deal between China and the United States is "on track" to be wzhdjgj.completed before Thanksgiving.
USD/CAD is trading in a narrow range above 1.4000 after closing slightly lower last week.
Japanese data earlier in the day showed that gross domestic product (GDP) shrank at an annual rate of 1.8% in the third quarter, following a 2.3% increase in the second quarter. The reading was better than market expectations for a 2.5% contraction. USD/JPY remained relatively calm during early European trading on Monday, trading around 154.70. Bank of Japan (BoJ) Governor Kazuo Ueda said on Monday that they would maintain loose monetary policy as underlying inflation remains below target.
EUR/USD is still in a consolidation phase in early European trading, slightly above 1.1600.
EnglishGBP/USD ended the week largely unchanged after closing in negative territory on Friday. The pair traded sideways above 1.3150 early on Monday.
Gold fell for a third straight day despite a lack of bearish conviction and managed to hold above the one-week low hit on Friday. Gold/USD holds steady near $4,070.
EUR: The intraday bias for EUR/USD remains neutral at first. Current developments suggest that the decline from 1.1917 may be wzhdjgj.complete, with a three-wave correction at 1.1467. Above 1.1655 will first target the 1.1727 resistance level. A firm breakout would solidify this bullish case and lead to a retest of the 1.1917 high. However, a move above 1.1561 would revive the near-term bearish sentiment and target the 1.1467 low.
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