Market -Weekly Outlook Nov 12 2018

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In the week ahead. The global financial market will shift their focus to Wednesday’s comments from Fed Chair Powell Speaks. The Fed has hiked rates three times this year and is expected to raise one more time before year-end.

Market players will focus on this week’s U.S consumer price data as well as U.S retail sales figures for October. Before we continue, let’s take a quick look at the U.S dollar index…

 

U.S Dollar Index: Bullish, But Hesitates Ahead Of 97.50 Level

As long as 96.43/96.82 support holds on a daily closing basis, the U.S Dollar Index (DXY) remains on the upside to 97.50 level. A halt is likely, it may test 96.82 before attempts to move higher. Anyway; above 97.50 aim 98.30, further upside, resistance comes at 99.25 level.

On the downside, below 96.43 sees a fall risk to 95.80 ahead of 95.17, further down, support comes at 94.75 level.

Conclusion: The U.S dollar index sees upside threats above 96.43 level.

Support: 96.82, 96.43, 95.80, 95.17

Resistance: 97.50, 98.30, 99.25, 100.00

Let’s take a quick look at the most important events that are likely to affect the market this week:

Tuesday, November 13

The UK will release its latest employment report. (GBPUSD sees a selling opportunity).

Fed Governor Lael Brainard will speak at an event in Philadelphia.

Wednesday, November 14

Japan will release preliminary data on third-quarter growth.

Germany will release preliminary data on third-quarter growth.

The U.S will release data on consumer price inflation.

Fed Governor Randal Quarles will speak in Washington.

Fed Chairman Jerome Powell will speak along with Dallas Fed President Robert Kaplan in Dallas.

Thursday, November 15

The UK will report retail sales figures.

The U.S will report on retail sales along with data on manufacturing activity in the New York and Philadelphia regions and the weekly report on initial jobless claims.

Fed Governor Randal Quarles will speak in Washington.

Fed Chairman Jerome Powell will speak in Dallas.

Friday, November 16

European Central Bank President Mario Draghi will speak at an event in Frankfurt.

You can follow the rest of the week’s economic events by visiting:

http://www.askhaitham653.com/live-calendar/

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