{"id":123247,"date":"2025-11-24T11:24:25","date_gmt":"2025-11-24T09:24:25","guid":{"rendered":"https:\/\/ironfx-com.wp-dev.int.theitops.net\/?p=123247"},"modified":"2026-01-15T16:24:28","modified_gmt":"2026-01-15T14:24:28","slug":"markets-calm-as-the-week-begins","status":"publish","type":"post","link":"https:\/\/www.ironfx-cn.com\/id\/markets-calm-as-the-week-begins\/","title":{"rendered":"Markets calm as the week begins"},"content":{"rendered":"

The market is relatively calm as the week begins, with the USD being rather stable against its counterparts in the FX Market. EUR traders remained relatively indifferent for the US peace plan for the war in Ukraine, yet any further indications for a ceasefire at the front could benefit the common currency. In the UK, market focus, is to be on the release of the Autumn budget on Wednesday, while on the same day, in the Asian session, RBNZ is to release its interest rate decision and is expected to cut rates by 25 basis points. In the US, the Fed\u2019s intentions remain a key driver for the markets with NY Fed President Williams signalling the possibility of a rate cut in the December meeting, while others seem to remain sceptical for the necessity of further easing of the bank\u2019s monetary policy. US stock markets seem to be sending mixed signals, while we\u2019ll have a better understanding for the market\u2019s mood with the American opening. We should note that META seems to have concealed evidence of harm by social media, as per US Court filings, which could weigh on its share price. Finally, gold\u2019s price seems to remain relatively stable, maintaining a wait-and-see position.<\/p>\n\n\n\n

In the FX market we note that EUR\/USD continued to edge lower distancing its price action from the 1.1570 (R1) resistance line. For the time being we tend to maintain a bias for a sideways motion of the pair, yet note that the RSI indicator remains between the readings of 50 and 30, implying some bearish tendencies on behalf of the market. Also the downward motion of the median of the Bollinger bands, that being the 20 moving average, tends to imply a downward direction for the pair. For a bearish outlook to emerge we would require the pair\u2019s price action to form a new lower trough and start aiming for the 1.1265 (S1) support line. For the adoption of a bullish outlook the bar is high, as EUR\/USD\u2019s price action would have to break the 1.1570 (R1) resistance line clearly and start aiming for the 1.1825 (R2) resistance base.<\/p>\n\n\n\n

Also on a technical level, we note that gold\u2019s price remained stable on Friday and during today\u2019s Asian session, well between the 4155 (R1) resistance line and the 3890 (S1) support level. Please note that the RSI indicator continued to run along the reading of 50, implying a rather indecisive market which could allow the sideways motion to be maintained, while similar signals are being send by the converging Bollinger bands implying less volatility for gold\u2019s price. Should the bulls regain control over gold\u2019s price, we may see it breaking the 4155 (R1) resistance line and start aiming for the 4380 (R2) resistance level, which marks an All Time High (ATM) for the precious metal\u2019s price. Should the bears take over we may see gold\u2019s price breaking the 3890 (S1) support line and continue lower to aim the 3615 (S2) support level.<\/p>\n\n\n\n

Other highlights for the day:<\/strong><\/h2>\n\n\n\n

Today we get Germany\u2019s Ifo indicators for November and the US the Dallas Fed manufacturing index also for November.<\/p>\n\n\n\n

As for the rest of the week:<\/strong><\/h2>\n\n\n\n

On Tuesday we get UK\u2019s CBI distributive trades for November, the US PPI rates for September and the US consumer confidence for November. On Wednesday, we get Australia\u2019s CPI rates for October, from New Zealand, RBNZ\u2019s interest rate decision, Norway\u2019s GDP rates for Q3, and from the US we may get the PCE rates for October, the durable goods orders for October, the 2nd estimate if Q3\u2019s GDP rate and the weekly initial jobless claims figure. On Thursday we get Australia\u2019s capital expenditure for Q3, Germany\u2019s GfK for December and Euro Zone\u2019s economic sentiment for November. On Friday we get Japan\u2019s Tokyo CPI rates for November and preliminary industrial output for October, Sweden\u2019s final GDP Rate for Q3, France\u2019s and Germany\u2019s preliminary HICP rate for November, from Switzerland the GDP rate for Q3 and the KOF indicator for November and from Canada, Q3\u2019s GDP rate.<\/p>\n\n\n\n

EUR\/USD Daily Chart<\/strong><\/h2>\n\n\n\n
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