{"id":108167,"date":"2024-11-13T02:21:00","date_gmt":"2024-11-12T22:21:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=108167"},"modified":"2024-11-13T05:29:17","modified_gmt":"2024-11-13T01:29:17","slug":"market-drivers-us-session-16","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/market-drivers-us-session-16\/11\/13\/market-updates\/","title":{"rendered":"Market Drivers; US Session"},"content":{"rendered":"\n<p><strong>Dollar Strengthens Ahead of Key Data<\/strong><\/p>\n\n\n\n<p>The US Dollar extended its rally on Wednesday, reaching a six-month high as investors remained optimistic about the &#8220;Trump trade.&#8221; The upcoming release of crucial US economic data, particularly the Inflation Rate, is set to be a major market mover.<\/p>\n\n\n\n<p><strong>Key Developments:<br><\/strong><br>US Dollar Index (DXY): Surged past 106.00, boosted by rising US Treasury yields.<br>EUR\/USD: Fell to a 2024 low near 1.0590 due to a stronger US Dollar.<br>GBP\/USD: Dipped to a three-month low around 1.2720, pressured by the rising Greenback.<br>USD\/JPY: Approached a four-month high near 155.00, fueled by the Dollar&#8217;s strength.<br>AUD\/USD: Retested monthly lows near 0.6510, weighed down by the US Dollar.<br><br><strong>Commodities<\/strong><br><br>WTI Crude Oil: Fluctuated around $68.00 per barrel, influenced by OPEC+&#8217;s revised demand forecast and the strong US Dollar.<br><br>Gold: Retreated to a two-month low below $2,600 per ounce, pressured by rising US yields and a stronger Dollar.<br><br><strong>Upcoming Economic Events:<\/strong><\/p>\n\n\n\n<p>US: Inflation Rate, Mortgage Applications, API Weekly Crude Oil Inventory Report, Fed Speakers (Logan, Musalem, Schmid)<br><br>Japan: Producer Prices<\/p>\n\n\n\n<p>As the week progresses, market participants will closely monitor these economic indicators and Fed speakers&#8217; comments for further insights into the future direction of monetary policy and its impact on the US Dollar and global financial markets.<\/p>\n\n\n\n<p><strong>Also Read:<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/noortrends.ae\/en\/gold-declines-on-soaring-dollar-ahead-of-inflation-data\/11\/13\/market-updates\/\">XAU\/USD Declines on Soaring Dollar Ahead of Inflation Data<\/a><br><a href=\"https:\/\/noortrends.ae\/en\/eur-usd-plummets-to-one-year-low\/11\/12\/market-updates\/\">EUR\/USD Plummets to One-Year Low<\/a><br><a href=\"https:\/\/noortrends.ae\/en\/crude-oil-struggles-amid-bearish-market-sentiment\/11\/12\/market-updates\/\">Crude Oil Struggles Amid Bearish Market Sentiment<\/a><br><a href=\"https:\/\/noortrends.ae\/en\/dow-jones-pauses-after-election-rally-as-focus-shifts-to-inflation-data\/11\/12\/market-updates\/\">Dow Jones Pauses After Election Rally As Focus Shifts To Inflation Data<\/a><br><a href=\"https:\/\/noortrends.ae\/en\/feds-kashkari-cant-declare-victory-on-inflation-but-have-reasons-to-be-confident\/11\/12\/market-updates\/\">Fed\u2019s Kashkari: Can\u2019t declare victory on inflation, but have reasons to be confident<\/a><br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dollar Strengthens Ahead of Key Data The US Dollar extended its rally on Wednesday, reaching a six-month high as investors remained optimistic about the &#8220;Trump trade.&#8221; The upcoming release of crucial US economic data, particularly the Inflation Rate, is set to be a major market mover. Key Developments:US Dollar Index (DXY): Surged past 106.00, boosted &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":[38,6827,49,37,36],"tags":[6885,6874,6939,7004],"class_list":["post-108167","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates","tag-fed","tag-gold","tag-japan","tag-opec-2"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/108167","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=108167"}],"version-history":[{"count":4,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/108167\/revisions"}],"predecessor-version":[{"id":108174,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/108167\/revisions\/108174"}],"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=108167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=108167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=108167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}