Market Drivers – European Session 17-11-2021

The European session on Wednesday was mostly flat.

Gold is now at $1,863.61 an ounce, up 0.7%, while gold contracts are at $1,865.7 an ounce, up 0.63%.

As for the US dollar index DXY, which measures the currency’s strength against a basket of foreign currencies, it recorded 95.86, with a marginal decrease, and the dollar succeeded in turning to profitability and is now trading at 95.91.

The 10-year US Treasury yield rose 0.4% to 1.640%.

The dollar’s strength is reflected on the Turkish lira USD/TRY, which awaits the Turkish Central Bank’s decision tomorrow, and the dollar/lira pair is now recording 10.5135 lira/dollars, up 1.68%, which indicates the lira’s decline.

Housing starts in the US fell by 0.7% MoM in October after a 2.7% drop in September. That was below expectations for a 0.6% MoM rise.

The annual rate of headline Consumer Price Inflation (CPI) in Canada rose to 4.7% in October, in line with median economist forecasts and up from 4.4% in September, according to data published by Statistics Canada on Wednesday. MoM, headline CPI rose at a pace of 0.7%, also in line with forecasts.