Key Market News to Watch This Week: Global markets will react to crucial economic data releases
and market-moving news this week.
From Germany’s Consumer Price Index to U.S. inflation data and crude oil inventories,
traders are eyeing these reports to shape their strategies.
Critical market trends are also forming around significant assets like USD/JPY, Bitcoin, Gold, Oil, and Nasdaq.

Content

Economic Calendar
USDJPY
Bitcoin
Gold
OIL
Nasdaq

Economic Calendar

Tuesday, November 12

German Consumer Price Index (monthly) (October) 10:00 AM, Germany

Wednesday, November 13

Core Consumer Price Index (excluding food and energy) (monthly) (October) 4:30 PM, USA

Consumer Price Index (annual) (October) 4:30 PM, USA

Consumer Price Index (monthly) (October) 4:30 PM, USA

Thursday, November 14

Unemployment Claims 4:30 PM, USA

Producer Price Index (annual) (October) 4:30 PM, USA

US Crude Oil Inventories 7:00 PM, USA

Friday, November 15

Gross Domestic Product (annual) (Q3) 10:00 AM, UK

Gross Domestic Product (quarterly) (Q3) 10:00 AM, UK

Core Retail Sales (monthly) (October) 4:30 PM, USA

USDJPY

The USD/JPY pair witnessed some declines towards
the end of last week despite the Bank of Japan keeping interest rates unchanged.
However, markets are still expecting a rate hike from the Bank of Japan in the coming period,
and the BoJ will not allow the yen to weaken again and reach 160 levels.
Technically, the pair has bounced downward from significant resistance levels on the 4-hour timeframe,
supporting the continuation of bearish trading from the current levels, targeting reversal levels around 149.26.
However, if the pair breaks above 155.22, bullish trading could continue toward 159.14.

Bitcoin

Bitcoin has seen recent increases, reaching trading levels around 80,000,
as cryptocurrencies continue to benefit from Donald Trump’s victory
in the U.S. presidential election and the expected support for digital currencies in the coming period.
Bitcoin is expected to continue its upward movement,
targeting levels around 85,000.
Technically, the best buying levels would be if the price returns to test 75,570 again.

Gold

Gold experienced a strong corrective downward wave for the first time in a long while,
reaching 2642 before resuming its upward trading to close last week around 2684.
This movement followed the U.S. Federal Reserve’s decision to cut interest rates by 25 basis points.
The pair tested 2710 levels again,
and a reversal in price action suggests the continuation of the downward correction.
It is expected that the decline will continue until 2600.
However, if gold returns to trade above 2710, it could resume its upward trend towards 2790.

Oil

Oil continues to trade within a sideways range due to uncertainty surrounding demand
in the coming period amid the ongoing Chinese economic crisis.
Oil is trading around 70.3 after bouncing from resistance levels around 72.22.
This supports the continuation of the downward movement,
targeting the lower end of the range around 66.30.

Nasdaq

The U.S. markets continue to benefit significantly from current developments,
with the Nasdaq reaching new historical levels around 21,117.
This was driven by the market optimism following Donald Trump’s victory,
the anticipated tax cuts for U.S. companies, and the Fed’s continued rate cuts.
The markets have greatly benefited.
It is expected that the Nasdaq will continue its upward movement, targeting 21,750.

Key Market News to Watch This Week

Key Market News to Watch This Week

Related Topics