Home / Market Update / Market Drivers – European Session 17-11-2021

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.

Check Also

Gold Prices Steady Amid U.S. Tariff Uncertainty and Dollar Strength

Gold prices held steady in Asian trade on Tuesday after U.S. President Donald Trump’s latest …