{"id":14431,"date":"2024-10-09T14:02:27","date_gmt":"2024-10-09T14:02:27","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=14431"},"modified":"2025-02-16T10:55:27","modified_gmt":"2025-02-16T10:55:27","slug":"forex-market-analysis-9-october-2024","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/analysis\/forex-market-analysis-9-october-2024\/","title":{"rendered":"Forex market analysis: 9 October 2024"},"content":{"rendered":"\n<p>As we approach midweek, Wednesday, 9 October 2024, global markets are set to react to several key developments, with investors keeping an eye on economic data, corporate earnings, and geopolitical factors.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>KEY INDICATORS<\/strong><\/h1>\n\n\n\n<p><strong>Asian markets &amp; China\u2019s economic signals<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>In Asia, market movements, especially in China (A50, HK50), will hinge on recent economic reports, including trade data and potential government stimulus actions.<\/li>\n\n\n\n<li>Any signals of support for China\u2019s slowing recovery could drive market movements, particularly in tech and industrial sectors.<\/li>\n<\/ul>\n\n\n\n<p><strong>European markets<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>European investors will be reacting to industrial production data and ECB policy updates, which could affect the broader market tone.<\/li>\n\n\n\n<li>The European economy\u2019s growth prospects remain in the spotlight, especially with ongoing inflation concerns and energy-related challenges.<\/li>\n<\/ul>\n\n\n\n<p><strong>Corporate earnings season<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The early stages of Q3 earnings season are kicking in, and major companies from sectors like technology, consumer goods, and financials are set to release their results.<\/li>\n\n\n\n<li>These reports will offer insights into the state of corporate health, consumer demand, and potential profit pressures, influencing market sentiment.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/10\/20241009-160247.jpg\" alt=\"\" class=\"wp-image-14432\" \/><\/figure><\/div>\n\n\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"655\" height=\"533\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/10\/20241009-160256.jpg\" alt=\"\" class=\"wp-image-14433\" srcset=\"https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/20241009-160256.jpg 655w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/20241009-160256-300x244.jpg 300w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/20241009-160256-369x300.jpg 369w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/20241009-160256-400x325.jpg 400w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/20241009-160256-350x285.jpg 350w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/20241009-160256-200x163.jpg 200w\" sizes=\"auto, (max-width: 655px) 100vw, 655px\" \/><\/figure><\/div>\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>MARKET MOVERS<\/strong><\/h1>\n\n\n\n<p><strong>XAU\/USD<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"586\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_01-1024x586.png\" alt=\"\" class=\"wp-image-14434\" srcset=\"https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_01-1024x586.png 1024w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_01-300x172.png 300w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_01-768x440.png 768w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_01-500x286.png 500w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_01-400x229.png 400w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_01-350x200.png 350w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_01-200x115.png 200w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_01.png 1210w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><strong>Possible short preference<br><\/strong>Short positions below 2611.66 with targets at 2605.13 &amp; 2592.80 in extension.<br><strong>Alternative scenario<br><\/strong>Above 2624.14 look for further upside with 2634.15 &amp; 2639.66 as targets.<br><strong>As long as the resistance at 2624.14 is not surpassed, the risk of the break below 2605.13 remains high.<\/strong><\/figcaption><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>XAG\/USD<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"592\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_02-1024x592.png\" alt=\"\" class=\"wp-image-14435\" srcset=\"https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_02-1024x592.png 1024w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_02-300x174.png 300w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_02-768x444.png 768w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_02-500x289.png 500w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_02-400x231.png 400w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_02-350x202.png 350w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_02-200x116.png 200w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_02.png 1127w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><strong>Possible short indication<br><\/strong>Short positions below 30.49 with targets at 30.29 &amp; 30.03 in extension.<br><strong>Alternative scenario<br><\/strong>Above 31.07 look for further upside with 31.36 &amp; 31.50 as targets.<br><strong>A break below 30.29 would trigger a drop towards 30.03.<\/strong><\/figcaption><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Crude oil WTI<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"592\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_03-1024x592.png\" alt=\"\" class=\"wp-image-14436\" srcset=\"https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_03-1024x592.png 1024w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_03-300x173.png 300w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_03-768x444.png 768w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_03-500x289.png 500w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_03-400x231.png 400w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_03-350x202.png 350w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_03-200x116.png 200w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/10\/dma_20241009_03.png 1124w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><strong>Possible short preference<br><\/strong>Short positions below 72.73 with targets at 71.95 &amp; 71.00 in extension.<br><strong>Alternative scenario<br><\/strong>Above 74.23 look for further upside with 75.03 &amp; 75.65 as targets.<br><strong>As long as 74.23 is resistance, look for choppy price action with a bearish bias.<\/strong><\/figcaption><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>TODAY\u2019S NEWS HEADLINES<\/strong><strong><\/strong><\/h1>\n\n\n\n<p><strong>Gold extends fall to sixth day ahead of Fed, US inflation data<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Gold extended losses for a sixth straight session on Wednesday to hover near the two-week lows hit the day before on lowered expectations of deeper rate cuts, as traders turned their focus to the Federal Reserve\u2019s meeting minutes and inflation data.<\/li>\n\n\n\n<li>Spot gold fell 0.2% to USD 2,616.71 per ounce, having touched its lowest level since 20 September on Tuesday.<\/li>\n\n\n\n<li>US gold futures for December delivery was steady at USD 2,635.20.<\/li>\n\n\n\n<li>Even after the losses, gold prices are set for an over 25% rise this year after prices hit a record peak of USD 2,685.42 on 26 September.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Oil prices steady after sliding on potential Israel-Hezbollah ceasefire<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Oil prices <a href=\"https:\/\/economictimes.indiatimes.com\/markets\/commodities\/news\/oil-prices-steady-after-sliding-on-potential-israel-hezbollah-ceasefire\/articleshow\/114063298.cms?from=mdr\" target=\"_blank\" rel=\"noopener nofollow\" title=\"steadied\">steadied<\/a> in Asian trading on Wednesday, as traders weighed uncertainty surrounding developments in the Middle East conflict against continued bearish fundamentals.<\/li>\n\n\n\n<li>Brent crude futures rose 11 cents, or 0.14%, to USD 77.29 a barrel by 2:23 AM GMT.<\/li>\n\n\n\n<li>US West Texas Intermediate futures rose 3 cents to USD 73.60 a barrel.<\/li>\n\n\n\n<li>The sell-off in the Tuesday session followed a rally that began after Iran launched a missile barrage at Israel on 1 October, culminating in an 8% gain on the week on Friday, the largest in over a year.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>European markets trade higher, but sentiment dampened by volatility in China<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The pan-European Stoxx 600 index was trading up 0.25% by midday, with only the banks and oil and gas sectors in negative territory.<\/li>\n\n\n\n<li>Chinese stocks sold off in another volatile day of trading amid mixed Asia-Pacific markets overnight with the mainland CSI 300 dropping 6%.<\/li>\n\n\n\n<li>Hong Kong\u2019s Hang Seng index extending its losses, falling 2.5%.<\/li>\n\n\n\n<li>On Tuesday, the HSI recorded its worst day in 16 years, closing 9.41% lower.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Click <a href=\"https:\/\/www.vtmarkets.net\/trade-now\/?utm_campaign=account_c&amp;utm_source=dma&amp;utm_medium=website\" target=\"_blank\" rel=\"noopener\" title=\"here\">here<\/a> to open account and start trading.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As we approach midweek, Wednesday, 9 October 2024, global markets are set to react to several key developments, with investors keeping an eye on economic data, corporate earnings, and geopolitical factors. KEY INDICATORS Asian markets &amp; China\u2019s economic signals European markets Corporate earnings season MARKET MOVERS XAU\/USD XAG\/USD Crude oil WTI TODAY\u2019S NEWS HEADLINES Gold <a href=\"https:\/\/www.vtmarkets.com\/tr-mena\/analysis\/forex-market-analysis-9-october-2024\/\" class=\"read-more\">Continue Reading<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-14431","post","type-post","status-publish","format-standard","hentry","category-analysis"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/14431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=14431"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/14431\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=14431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=14431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=14431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}