This is what you need to know to trade today Tuesday, November 16:
After a quiet start to the week, the dollar capitalized on rising US Treasury yields in the US session and the DXY index rose to its highest level since July 2020 before entering a consolidation phase. Investors await UK labor market data and third quarter GDP figures for the euro zone. Later in the day, October retail sales and industrial production will appear on the US economic calendar. Several FOMC policy makers will also deliver speeches.
The yield on 10-year US Treasuries It gained strength in the second half of the session on Monday and reached its strongest level in more than two weeks at 1.632%. In the absence of new fundamentals and high-impact data releases, the sharp rise in yields suggested that investors continue to price the possibility that the U.S. Federal Reserve will raise the policy rate earlier than expected. expected.
The main indices de Wall Street they ended the day flat and US stock index futures are trading in a tight range early Tuesday. The headlines surrounding US President Joe Biden’s meeting with his Chinese counterpart Xi Jinping suggest that the talks focused on strategic and fundamental issues. Tariffs and trade relations were not mentioned and this summit does not appear to be having a noticeable impact on market sentiment.
The EUR/USD It slumped to its weakest level in more than a year at 1.1366 late Monday and appears to be struggling to stage a decisive rebound. The president of the European Central Bank (ECB), Christine Lagarde, again rejected that market prices include a rate hike in 2022.
The GBP/USD it closed flat on Monday as the British pound managed to stay resilient against the greenback after the latest Brexit headlines. European Commission Vice-President Maros Šefčovič said the last meeting with Britain’s Brexit minister Lord David Frost was much better than last week. In addition, British Prime Minister Boris Johnson said it was possible to reach an agreement with the EU, adding that they hope to reach a negotiated agreement on the Northern Ireland Protocol.
USD/JPY capitalized on rising US Treasury yields and rallied to the 114.00 zone. At time of writing, the pair is fluctuating in a very tight range around 114.10.
Despite the broad strength of the dollar, the oro it is still trading above $ 1,860. The precious metal appears to be attracting investors as a hedge against inflation.
cryptocurrencies: Bitcoin it lost nearly 3% on Monday and fell under heavy downward pressure on Tuesday. BTC / USD is currently testing $ 60,000, losing more than 4% on a daily basis. In the same way, Ethereum It is suffering heavy losses and was last seen trading near $ 4,300, where it was down 5.3% on the day.
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