{"id":107721,"date":"2024-11-01T01:56:07","date_gmt":"2024-10-31T21:56:07","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=107721"},"modified":"2024-11-01T01:57:33","modified_gmt":"2024-10-31T21:57:33","slug":"market-drivers-us-session-12","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/market-drivers-us-session-12\/11\/01\/market-updates\/","title":{"rendered":"Market Drivers; US Session"},"content":{"rendered":"\n<p><strong>US Dollar Weakens on Yen Strength and Fed Rate Hike Uncertainty<br><\/strong>The US Dollar weakened on Thursday as the Japanese Yen strengthened after a slightly hawkish tone from the Bank of Japan. The upcoming US labor market report on Friday is crucial for determining the Federal Reserve&#8217;s future rate hike path.<\/p>\n\n\n\n<p><br>Key Currency Pairs and Economic Data<\/p>\n\n\n\n<p>\u2022 EUR\/USD rose towards 1.0900, supported by sticky inflation in the Eurozone and reduced expectations for a large ECB rate cut.<br>\u2022 GBP\/USD fell to a two-month low near 1.2840, despite the US Dollar&#8217;s weakness and the recent UK Autumn Budget.<br>\u2022 USD\/JPY plunged to a weekly low below 152.00 after the BoJ maintained rates but signaled potential future hikes.<br>\u2022 AUD\/USD recovered from initial losses but struggled to break above 0.6600.<\/p>\n\n\n\n<p><strong>Commodities<\/strong><br>\u2022 Oil: Prices rose above $70 per barrel, driven by strong US demand expectations and potential OPEC+ production cuts.<br>\u2022 Gold: Prices fell to a three-day low near $2,730 per ounce, but the overall outlook remains positive.<br>\u2022 Silver: Prices also declined, reaching a multi-day low near $32.50 per ounce.<br>Economic Releases to Watch<br>\u2022 US: Nonfarm Payrolls, S&amp;P Global Manufacturing PMI, ISM Manufacturing PMI, Construction Spending<br>\u2022 UK: Nationwide Housing Prices, S&amp;P Global Manufacturing PMI<br>\u2022 Japan: Jibun Bank Manufacturing PMI<br>\u2022 Australia: Judo Bank Manufacturing PMI, Producer Prices, Home Loans, Investment Lending for Homes<br><br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>US Dollar Weakens on Yen Strength and Fed Rate Hike UncertaintyThe US Dollar weakened on Thursday as the Japanese Yen strengthened after a slightly hawkish tone from the Bank of Japan. The upcoming US labor market report on Friday is crucial for determining the Federal Reserve&#8217;s future rate hike path. Key Currency Pairs and Economic &hellip;<\/p>\n","protected":false},"author":13,"featured_media":52661,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[7907,7957],"class_list":["post-107721","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-boj","tag-nfp-data"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/107721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=107721"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/107721\/revisions"}],"predecessor-version":[{"id":107727,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/107721\/revisions\/107727"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52661"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=107721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=107721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=107721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}