Market Drivers; US Session

US Dollar Strengthens as Market Reacts to Trump-Inspired Rally

The US Dollar Index (DXY) rebounded on Thursday, November 21, approaching the 107.00 level as yields rose. This surge was fueled by renewed optimism stemming from Trump-related news.

Key Economic Data and Fed Speeches

Investors will be closely watching key economic indicators, including Initial Jobless Claims, the Philly Fed Manufacturing Index, Existing Home Sales, and the CB Leading Index. Additionally, speeches from Fed officials Hammack and Goolsbee could provide further insights into the central bank’s monetary policy stance.

Currency Pair Outlook

EUR/USD: Weakened further, approaching the 1.0500 support level.
GBP/USD: Retreated from recent gains, testing the 1.2630 zone.
USD/JPY: Strengthened, nearing the 156.00 resistance level.
AUD/USD: Fell below the 0.6500 support level.

Commodities

Oil: WTI crude oil prices retreated from recent highs, trading below $69 per barrel.

Gold: Maintained its upward trend, surpassing the $2,650 per ounce level.

Silver: Experienced a pullback, trading below $31 per ounce.

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