Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Indices

Forex Today: Attention is back to the real economy

Source Fxstreet

The US Dollar continued its ascent, reaching fresh 2024 highs, even as the Trump-led rally showed signs of slowing and US yields dipped slightly ahead of a busy economic calendar on Friday.

Here is what you need to know on Friday, November 15:

The US Dollar Index (DXY) printed a new 2024 peak north of 107.00 despite declining US yields across the curve. Retail Sales will be at the centre of the debate across the pond, seconded by the NY Empire State Manufacturing Index, Export and Import Prices, Industrial and Manufacturing Production, and Business Inventories.

EUR/USD broke below the 1.0500 support to hit new 2024 lows amidst the incessant move higher in the Greenback. Germany’s Wholesale Prices are due along with speeches by the ECB’s McCaul, Lane, and Cipollone.

GBP/USD broke below the 1.2700 support to reach new lows amid further gains in the Greenback. The advanced Q3 GDP Growth Rate figures takes centre stage on the UK docket, followed by Business Investment, Goods Trade Balance, Industrial and Manufacturing Production, Construction Output, the final Q2 Labour Productivity index, and the NIESR Monthly GDP Tracker.

USD/JPY climbed past the 156.00 hurdle for the first time since mid-July on the back of further gains in the US Dollar. Key data releases in Japan will include flash Q3 GDP Growth Rate, Capacity Utilization, Industrial Production, and the Tertiary Industry Index.

Extra strength in the Greenback and the inconclusive price action in the commodity complex dragged AUD/USD to new lows near 0.6450. The RBA’s Jones will be the sole event Down Under at the end of the week.

WTI prices added to Wednesday’s marginal gains and shifted their focus to the key $70.00 mark on the back of a positive EIA’s weekly report.

Prices of Gold advanced marginally and regained the $2,570 region after bottoming out in new lows near $2,535 earlier in the day. Silver prices bounced off the sub-$30.00 zone per ounce, making a decent U-turn and eventually ending the day with marked gains.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Ethereum (ETH) Price Closes Above $3,900 — Is a New All-Time High Possible Before 2024 Ends?Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.

Author Beincrypto

Dec 17, 2024

Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.

Gold Price Forecast: XAU/USD surges to all-time high above $4,650 amid Greenland tariff threats Gold price (XAU/USD) rises to a fresh record high near $4,675 during the early Asian session on Monday. The precious metal gains momentum after US President Donald Trump said he would slap tariffs on eight European nations that have opposed his plan to take Greenland.

Author FXStreet

Jan 19, Mon

Gold price (XAU/USD) rises to a fresh record high near $4,675 during the early Asian session on Monday. The precious metal gains momentum after US President Donald Trump said he would slap tariffs on eight European nations that have opposed his plan to take Greenland.

Gold nears $4,700 record as US–EU trade war fears ignite haven rush Gold (XAU/USD) rallies on Monday after falling to a four-day low on Friday, edging up more than 1.50%, and hovers near the $4,700 figure after reaching a new all-time high courtesy of geopolitical uncertainty amid the US-European Union trade-war escalation over the weekend.

Author FXStreet

Yesterday 02: 20

Gold (XAU/USD) rallies on Monday after falling to a four-day low on Friday, edging up more than 1.50%, and hovers near the $4,700 figure after reaching a new all-time high courtesy of geopolitical uncertainty amid the US-European Union trade-war escalation over the weekend.

Bitcoin options open interest hits $74.1B, topping futures volume for the first time: Checkonchain Bitcoin options open interest hit $74.1B vs. $65.2B futures as BTC trades at $93,189; Checkonchain flags IBIT/Deribit concentration and a 15% hashrate drop.

Author Mitrade

Yesterday 03: 00

Bitcoin options open interest hit $74.1B vs. $65.2B futures as BTC trades at $93,189; Checkonchain flags IBIT/Deribit concentration and a 15% hashrate drop.

Ethereum slides below $3,000 as sellers defend $3,020 and $2,880 becomes the key line Ethereum fell below $3,000 after failing at $3,200, with resistance at $3,020 and key support at $2,880; a break lower could target $2,800 and $2,750, while a rebound needs $3,120–$3,150.

Author Mitrade

7 hours ago

Ethereum fell below $3,000 after failing at $3,200, with resistance at $3,020 and key support at $2,880; a break lower could target $2,800 and $2,750, while a rebound needs $3,120–$3,150.

Related Instrument