{"id":107815,"date":"2024-11-05T00:13:05","date_gmt":"2024-11-04T20:13:05","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=107815"},"modified":"2024-11-05T00:15:06","modified_gmt":"2024-11-04T20:15:06","slug":"market-drivers-us-session-13","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/market-drivers-us-session-13\/11\/05\/market-updates\/","title":{"rendered":"Market Drivers; US Session"},"content":{"rendered":"\n<p><strong>US Election Driving Market Sentiment Worldwide<br><\/strong><br>The US Dollar Index (DXY) weakened early this week as investors unwound positions related to the &#8220;Trump trade&#8221; and grew cautious ahead of the US election on Tuesday and the FOMC meeting on Thursday.<br><br><strong>Key Currency Pairs and Economic Events:<br><\/strong><br>EUR\/USD: The pair climbed above 1.0900, but momentum stalled late in the session. ECB officials Lagarde and Schnabel are scheduled to speak.<br><br>The Pound Sterling strengthened against the US Dollar, approaching the 1.3000 level. Key UK economic data, including the BRC Retail Sales Monitor, New Car Sales, and the final S&amp;P Global Services PMI, are due for release.<br><br>USD\/JPY: The pair declined, testing the 200-day SMA near 151.50. The BoJ Minutes and the final Jibun Bank Services PMI are on the Japanese economic calendar.<br><br>AUD\/USD: The Australian Dollar rallied, surpassing the 0.6600 level. The RBA&#8217;s interest rate decision will be a key event for the Aussie.<br><br><strong>Commodities:<br><\/strong><br>Oil: WTI crude oil prices surged past $71 per barrel after OPEC+ decided to delay planned output increases.<br><br>Gold and Silver: Both precious metals gained ground as the US Dollar weakened and Treasury yields remained relatively stable. Gold approached $2,750 per ounce, while Silver neared $33.00.<br>Overall, the US election will be a major market mover this week, with potential implications for global risk sentiment and currency exchange rates.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US Election Driving Market Sentiment WorldwideThe US Dollar Index (DXY) weakened early this week as investors unwound positions related to the &#8220;Trump trade&#8221; and grew cautious ahead of the US election on Tuesday and the FOMC meeting on Thursday.Key Currency Pairs and Economic Events:EUR\/USD: The pair climbed above 1.0900, but momentum stalled late in the &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":[8322,7004,9308,11149,6871,6909],"class_list":["post-107815","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-fomc-meeting","tag-opec-2","tag-uk-data","tag-us-elections","tag-usd","tag-wti"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/107815","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=107815"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/107815\/revisions"}],"predecessor-version":[{"id":107824,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/107815\/revisions\/107824"}],"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=107815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=107815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=107815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}