Here is what you need to know about the important news between November 21st, 2022, and November 25th, 2022, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key correlated assets.
U.S. dollar index
This week, the most important release for the greenback will be the US Durable Goods Orders data, which is due on Wednesday. The economic data is expected to expand by 0.4%, similar to the prior advancement. Fed chair Jerome Powell is going through sleepless nights deriving a strategic plan to trim consumer spending. An absence of a decline in Durable Goods Orders data won’t be able to compel manufacturers to trim the prices of end goods. This might weigh more pressure on the gold prices ahead.
Gold
Gold has turned sideways after dropping near to $1743 early this week but hovered around key support levels as markets sought more clarity on the path of U.S. monetary policy in the coming months. While metal markets rallied earlier this month on signs of easing U.S. inflation, they are expected to remain pressured in the coming months, given that inflation is still trending well above the Fed’s annual 2% target.
Oil
Oil prices dropped to nearly 2-month low as supply fears receded while concerns over fuel demand from China and U.S. dollar strength weighed on prices. New COVID case numbers in China remained close to April peaks as the country battles outbreaks nationwide and in major cities. Meanwhile, tight crude supplies in Europe have eased as refiners have piled up stocks ahead of the Dec. 5 European Union embargo on Russian crude, putting pressure on physical crude markets across Europe, Africa and the United States.
Stocks
Ahead in the week, market participants will be looking towards the release of the FOMC’s meeting minutes for clues on the size of the next interest rate hike in December. Meantime, Investors will be monitoring fresh manufacturing and services PMI readings, Michigan consumer sentiment, durable goods orders and new home sales. On the earnings front, companies set to report results include VMware Inc (NYSE:VMW), Pinduoduo (NASDAQ:PDD), Agilent Technologies Inc (NYSE:A), Analog Devices Inc (NASDAQ:ADI) and Dollar Tree Inc (NASDAQ:DLTR).
Economic calendar most important releases – All times are GMT
Tuesday, November 22, 2022
07:00 AUD RBA Gov Lowe Speaks
Wednesday, November 23, 2022
01:00 NZD Official Cash Rate
01:00 NZD RBNZ Monetary Policy Statement
01:00 NZD RBNZ Rate Statement
02:00 NZD RBNZ Press Conference
08:15 EUR French Flash Services PMI
08:30 EUR German Flash Services PMI
08:30 GBP Flash Manufacturing PMI
08:30 GBP Flash Services PMI
14:45 USD Flash Services PMI
19:00 USD FOMC Meeting minutes
Thursday, November 24, 2022
All Day USD Thanksgiving holiday
Thanks for reading! Have a great week! 
Important Note: The information found on Ausprime platform is intended only to be informative, is not advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not include any specific investment objectives, financial situation and needs of any specific person who may receive it. The past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statement.
