{"id":14660,"date":"2024-11-15T10:24:42","date_gmt":"2024-11-15T10:24:42","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=14660"},"modified":"2025-02-16T10:55:25","modified_gmt":"2025-02-16T10:55:25","slug":"forex-market-analysis-15-november-2024","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/analysis\/forex-market-analysis-15-november-2024\/","title":{"rendered":"Forex market analysis: 15 November 2024"},"content":{"rendered":"\n<h2 class=\"wp-block-heading has-medium-font-size\">USDX Hits New Highs as Market Optimism Persists<\/h2>\n\n\n\n<p>The US Dollar Index (USDX) has maintained its upward trajectory, recording a recent high of 106.969. The steady climb reflects a shift in market sentiment, driven by both economic expectations and political factors.<\/p>\n\n\n\n<p>Despite the Federal Reserve\u2019s indication of a potential December rate cut, traders are focusing on an anticipated inflationary boost from incoming President Trump\u2019s policy platform. This has led to reduced expectations for aggressive rate cuts, buoying the dollar against its peers.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2024\/11\/image-29-1024x444.jpeg\" alt=\"usdx\" class=\"wp-image-15772\" \/><\/figure>\n\n\n\n<p><em>Picture: USDX trades near a high of 106.831, as seen on the VT Markets app.<\/em><\/p>\n\n\n\n<p>Traders pared back Fed cut expectations following Fed Chair Jerome Powell\u2019s comments.<\/p>\n\n\n\n<p>The trend data at 0.30% shows positive sentiment, as market participants re-evaluate the US economic outlook in light of Powell\u2019s emphasis on economic resilience and sticky inflation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>Fed Policy Expectations and Market Reactions<\/strong><\/h2>\n\n\n\n<p>Following\u00a0Powell\u2019s remarks\u00a0on the strength of the US economy, traders are now projecting a softer approach to rate cuts. CME FedWatch data shows a drop in the probability of a\u00a025 basis point cut in December, down from 82.5% to 48.3%.<\/p>\n\n\n\n<p>The reduced likelihood of aggressive cuts supports the dollar as higher Treasury yields attract global inflows.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>Strategic Considerations for Traders<\/strong><\/h2>\n\n\n\n<p>For traders monitoring currencies against the USD, it is essential to consider both technical indicators and broader market sentiment. The USDX\u2019s current momentum, supported by the MACD and moving averages, suggests continued strength in the greenback.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">&quot;We think that the election of Trump and the likely imposition of tariffs really is a game changer for Fed policy in 2025,&quot; Nomura chief economist David Seif says. &quot;We still expect the Fed to cut in December &#8230; and we expect a cut in March, and we think that&#39;s going to be it.&quot; <a href=\"https:\/\/t.co\/kpTx2vuj3f\">pic.twitter.com\/kpTx2vuj3f<\/a><\/p>&mdash; Yahoo Finance (@YahooFinance) <a href=\"https:\/\/twitter.com\/YahooFinance\/status\/1857164934137643182?ref_src=twsrc%5Etfw\">November 14, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>However, traders should remain cautious of potential Fed announcements or shifts in economic data that could impact dollar strength.<\/p>\n\n\n\n<p>The USDX\u2019s climb, combined with Powell\u2019s cautious stance, presents a scenario where dollar bulls are likely to dominate in the short term. However, as geopolitical factors evolve and Trump\u2019s policies come under scrutiny, further shifts in sentiment may influence the dollar\u2019s path, impacting major pairs like EUR\/USD.<\/p>\n\n\n\n<p>Click\u00a0<a href=\"https:\/\/www.vtmarkets.net\/trade-now\/?utm_campaign=account_c&amp;utm_source=dma&amp;utm_medium=website\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>\u00a0to open account and start trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>USDX Hits New Highs as Market Optimism Persists The US Dollar Index (USDX) has maintained its upward trajectory, recording a recent high of 106.969. The steady climb reflects a shift in market sentiment, driven by both economic expectations and political factors. Despite the Federal Reserve\u2019s indication of a potential December rate cut, traders are focusing <a href=\"https:\/\/www.vtmarkets.com\/tr-mena\/analysis\/forex-market-analysis-15-november-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-14660","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\/14660","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=14660"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/14660\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=14660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=14660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=14660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}