{"id":14646,"date":"2024-11-13T19:23:50","date_gmt":"2024-11-13T19:23:50","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=14646"},"modified":"2025-02-16T10:55:25","modified_gmt":"2025-02-16T10:55:25","slug":"forex-market-analysis-13-november-2024","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/analysis\/forex-market-analysis-13-november-2024\/","title":{"rendered":"Forex market analysis: 13 November 2024"},"content":{"rendered":"\n

Midweek on Wednesday, markets will be heavily focused on inflation data, economic indicators, and key corporate reports that could shape investor sentiment and influence central bank policy expectations.
With CPI data as a focal point, Wednesday could see significant volatility across equity and bond markets. Investors are likely to react quickly to inflation readings and retail earnings results, shaping market sentiment and expectations for the Federal Reserve\u2019s next policy moves.<\/p>\n\n\n\n

KEY INDICATORS<\/h1>\n\n\n\n

Retail and Industrial Production Data of China<\/h2>\n\n\n\n

Chinese economic data, particularly retail sales and industrial production figures are due, which will be closely monitored by investors for signs of recovery or potential slowdown.
Weak numbers could impact Asian markets, the A50 and HK50 indexes, and commodity markets tied to China\u2019s economy, like metals and energy.<\/p>\n\n\n\n


U.S. Consumer Price Index (CPI) Report<\/h2>\n\n\n\n

The highlight of the day will be the U.S. CPI report for October, providing critical insights into inflation trends.
This data release is expected to drive market reactions, especially if there are surprises in core or headline inflation numbers, which could impact interest-rate-sensitive sectors like real estate and financials.<\/p>\n\n\n\n


Retail Earnings and Consumer Health<\/h2>\n\n\n\n

Major retail companies are expected to report Q3 earnings, offering insights into consumer demand and spending habits.
These results will give a preview of the holiday shopping season and reflect how well consumers are handling inflation and high-interest rates, affecting stocks in the retail and consumer sectors.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Technical Indicators for the Commodities Sector<\/h2>\n\n\n
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\"technical-indicators-commodities\"<\/figure><\/div>\n\n\n

Technical Indicators on the commodities market that could be impacted today by the events that are scheduled to come.<\/p>\n\n\n\n

<\/p>\n\n\n\n

MARKET MOVERS<\/h1>\n\n\n\n

EUR\/USD<\/h2>\n\n\n
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\"eur-usd\"<\/figure><\/div>\n\n\n

Possible Short Preference<\/strong>
Short positions below 1.06096 with targets at 1.05962 & 1.05797 in extension.
Alternative Scenario<\/strong>
Above 1.06493 look for further upside with 1.06627 & 1.06853 as targets.<\/p>\n\n\n\n


As long as the resistance at 1.06627 is not surpassed, the risk of the break below 1.06096 remains high.<\/p>\n\n\n\n

<\/p>\n\n\n\n

WTI Crude Oil<\/h2>\n\n\n
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\"wti-crude-oil\"<\/figure><\/div>\n\n\n

Possible Long Indication<\/strong>
Long positions above 68.38 with targets at 68.72 & 69.08 in extension.
Alternative Scenario<\/strong>
Below 67.72 look for further downside with 67.14 & 66.74 as targets.<\/p>\n\n\n\n


The break above 68.38 is a positive signal that has opened a path to 69.08.<\/p>\n\n\n\n

<\/p>\n\n\n\n

XAU\/USD<\/h2>\n\n\n
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\"xau-usd\"<\/figure><\/div>\n\n\n

Possible Short Preference<\/strong>
Short positions below 2604.18 with targets at 2597.02 & 2589.86 in extension.
Alternative Scenario<\/strong>
Above 2617.77 look for further upside with 2625.18 & 2643.95 as targets.<\/p>\n\n\n\n


As long as the resistance at 2625.18 is not surpassed, the risk of the break below 2604.18 remains high.<\/p>\n\n\n\n

<\/p>\n\n\n\n

TODAY’S NEWS HEADLINES<\/h1>\n\n\n\n

Oil could plunge to $40 in 2025 if OPEC unwinds voluntary production cuts<\/h2>\n\n\n\n