Market Analysis

Stay informed with our timely forex analysis



Weekly News Overview


Last Week Highlights:

  • The US Dollar Index fell to 103.81, hitting a low since September 1, prompting institutions to warn of an emerging bear market for the USD, driving a resurgence in gold.

  • Escalation in the Middle East conflict subsided, and the market focused on US economic data. Oil prices rose 4% after a week of sell-offs.

  • US stock markets closed slightly higher, with all three major indices recording gains for the third consecutive week.

  • Two-year US Treasury yields saw a significant drop, marking the best performance since March. The ten-year bond yield has fallen substantially from the peak of 5.02% a month ago.

Outlook for This Week:

  • This week includes the Thanksgiving holiday in the US, leading to relatively light economic data. Investors are keen on the FOMC meeting minutes on November 21, as the market expects the end of the Fed's rate hike cycle, with a potential rate cut in 2024.

  • The Fed is likely to end rate hikes due to signs of economic slowdown. Investors anticipate a significant rate cut in 2024, with May being a potential starting point.

  • Eurozone focuses on confidence data, and the UK's Autumn Budget on November 22 may bring some positive news.

  • Key event on November 21: FOMC meeting minutes, and the US Thanksgiving holiday.

Economic Data This Week:

  • Monday: Germany's PPI MoM, US Leading Indicators MoM.

  • Tuesday: Speech by the Governor of the Bank of England, RBA Monetary Policy Meeting Minutes, US Chicago Fed National Activity Index, Existing Home Sales.

  • Wednesday: Australia's Westpac Leading Index MoM, FOMC Meeting Minutes, US Initial Jobless Claims, Durable Goods Orders excluding Transportation MoM, Eurozone Consumer Confidence Index.

  • Thursday: Australia's Manufacturing and Services PMI, ECB Monetary Policy Meeting Minutes.

  • Friday: Japan's National Core CPI YoY, Services PMI, US Markit Services PMI.

Website Terms of Use Privacy Policy

2024 © - All Rights Reserved by BCR Co Pty Ltd

Risk Disclosure: Derivatives are traded over-the-counter on margin, which means they carry a high level of risk and there is a possibility you could lose all of your investment. These products are not suitable for all investors. Please ensure you fully understand the risks and carefully consider your financial situation and trading experience before trading. Seek independent financial advice if necessary before opening an account with BCR.