The demand for dollar as a protective asset has increased after U.S. markets fall, which further weighted the stocks. The dollar index increased by 0.8% on Monday and updated the highs from the middle of last year.

Today morning, the dollar has departed from local highs, but such sharp movement on Monday allows us to assume serious support from the side of dollar bulls.

The dollar may continue to receive support from the markets beyond the previous resistance area.

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The stability of BTC has contributed to its widespread use as a means of payment. There have been daily mass media news releases about the adoption of BTC to pay for goods and services.

At the moment, although the inclusion of the ability to pay for goods and services with cryptocurrencies has a marketing character, nevertheless, the more stable the market, the higher the likelihood that large service providers will accept payments in digital currencies.

The sanctions policy of the United States has again a direct impact on the cryptocurrency implementation in developing countries.

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Wave Analysis: #AUDNZD is expected to fall further and re-test the next support level 1.0650. Read more

Wave Analysis: If the price breaks below the support level 58.00, #WTI can then be expected to fall further. Read more

Important upcoming events and publications for November, 14 (GMT):

🇬🇧 09:30 U.K. Inflation data can seriously affect the position of currency pairs with #GBP. Most attention should be paid to the Consumer Price Index dynamics. Weak data is able to put the Pound under the pressure, raising doubts that the Bank of England will soon tighten the policy tone.

🇪🇺 10:00 EU Industrial production is a hardly strong market mover. However, the weak #EUR positions will increase the sensitivity to the news. Weaker than expected data could return the pressure on the euro.

🇺🇸 13:30 The US Consumer inflation can have a serious impact on the #USD quotes, in case of the deviations from the forecasts. The consensus is to keep the inflation at 2.2% y/y. The US dollar acceleration is likely to be favorable.

Visit https://fxpro.news/economic-calendar/ for more details.

Brent Crude Oil fell by 5.7% on Tuesday, sinking below $65 per barrel. American WTI is close to $55.50, the lowest value seen in the last year.

Investors have shifted their focus away from the fears of decreasing oil shipments due to sanctions against Iran, as there are many countries on the horizon who want to replace the drop-off shipments inside OPEC+. This is Iraq, Russia and Saudi Arabia. Meanwhile, Iran wants to retain its markets share, hoping to keep a significant part of its exports.

An important driving pressure of oil prices in the last month was the resumption of speculation around overproduction. The forecasted growth of production in the next year exceeds, almost twice, the forecasted increase in demand.

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#WTI fell out from the upward trend that increased pressure on the prices.

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Wave Analysis: #NZDCHF is expected to rise further and re-test the next resistance level 0.6950. Read more

Wave Analysis: Natural Gas (#Gas) is expected to rise further and re-test the next major resistance level 5.000. Read more

Important upcoming events and publications for November 15 (GMT):

🇬🇧 09:30 UK Retail sales continues a series of important macroeconomic publications that can seriously affect the pairs with #GBP. In the middle of the year there was a jump in sales, but now it is gradually losing the strength. A further slowdown in annual rates is expected from 3.0% to 2.8%. A sharper fall can hurt the pound.

🇪🇺 10:00 Euro area Trade balance can temporarily increase the volatility in pairs with #EUR. The surplus of foreign trade has been declining in recent months in response to a slowdown in global economic growth. Analysts expect the surplus near the levels of the previous month. Better than forecasted data will be able to support the euro recovery

🇺🇸 13:30 US Retail sales can have a major impact on markets, including #USD quotes, in case of deviations from the expectations. Analysts are set to see a very strong increase (+0.6%) in October after several months of weak growth. If the results are stronger than expectations, it will support the growth of the US dollar on speculation around maintaining strong consumer demand.

Visit https://fxpro.news/economic-calendar/ for more information.

There was a positive sentiment on Thursday, at the start of the trading day. However, as we saw in the past five trading days, the positive morning vibe was gone by the midst of the American session. Markets retain the pressure against the stocks of high-tech companies, which in turn pushes indices down.

This is a clear signal that rising Fed interest rates force market participants to engage in prospect activities after the end of the easy money era, when interest rates were exceptionally low. Not surprisingly, the decline of the market in October was driven by the comments of Fed’s chairman, who made it clear that the rates may exceed the neutral level.

Yesterday, we heard another statement from Fed.

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🗓 Important upcoming events and publications for November, 16 (GMT):

🇪🇺 08:30 Mario Draghi speech at the EU Banking Congress. His comments can spur the volatility for #EUR. Since EURUSD is close to more than a year lows, Draghi's remarks can cause a serious surge in volatility and have a noticeable impact on the trend.

🇪🇺 10:00 Euro area Consumer Price Index rarely differs from the preliminary estimate, but can still has some impact on the #EUR quotes. The market's attention is drawn to the CPI data acceleration: really sharp growth is able to support pairs with EUR.

🇺🇸 14:15 US Industrial Production is a good indicator of the business activity. It could predict the pivot points of the economic cycles. So, traders and investors will carefully examine the report. Signs of a declining growth momentum can increase pressure on the financial markets, as well as weaken the #USD on the revising interest rate expectations.

Visit https://fxpro.news/economic-calendar/ for more delails.

The British pound lost about 2% on Thursday, as Brexit talks provoked a number of ministerial resignations. Meanwhile, stocks of British banks were under threat, as the declared parameters of the deal would negatively affect their influence in Continental Europe.

The GBPUSD pair has returned to the bottom, trading near this year’s lows. The focus of investors has shifted to the events regarding to Brexit, and thus the current position of the British currency is majorly affected by the market sentiment.

U.K. macroeconomic statistics has been temporarily in the shadow, although this week’s data indicate possible problems in the country’s economy.

It is worth to pay attention to the dynamics of the GBPUSD near support area at 1.2700.

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#WeeklyTrends:

The past week has been stigmatized by three major falls on oil, bitcoin and the pound. However, this trio seems to have managed to return back to stability.

🛢 Oil collapsed on Tuesday. WTI fell by more than 7% on that day, which was the 12th consecutive steady decline, making it the longest series in modern history. OPEC ministers failed to promise a reduction in production, while the Joint Technical Committee forecasted a production growth. The whole situation has caused major panic in the markets. Since Wednesday, oil has been steadily recovering, but it has not yet managed to fight back to even half of Tuesday’s decline, not to mention the whole 28% collapse.

⚰️ Bitcoin experienced a crash on Wednesday. Many months of sluggish dynamics turned into a sharp sell-off, when the key cryptocurrency fell under the $6000 mark. At the end of the week, BTCUSD was traded near $5500, which roughly corresponds to the cost of electricity required for its production.

💷 On Thursday, nerves could not withstand the pound. The Brexit deal has caused several resignations, which in turn affected the British currency by more than 2% within the day.

💡Meanwhile, the dollar has been decreasing during the entire week, rolling back from its 16-month highs on DXY. Technical analysis (divergention with RSI) suggests that the dollar has lost its momentum and is in a vulnerable position. This may already be the topic for next week.

Wave Analysis: #Silver is expected to rise further and re-test the next resistance level 14.6. Read more

Wave Analysis: #EURNZD is expected to rise further and re-test the next resistance level 1.6800. Read more

#FxProMedia: TOP-6 most interesting publications of this week:

1️⃣ Trading View: "Bitcoin is dangerously close to collapse"

2️⃣ Yahoo Finance: "Fed Rate Hikes. Any Surprises?"

3️⃣ The Guardian: "Why 'the markets' need keeping in their place"

4️⃣ Daily Magazine: "Crypto Investors Are Trying to Save Their Funds Amid Bitcoin Crash"

5️⃣ Retail Crowd: "Fears of rising interest rates continue to push down growth stocks"

6️⃣ Investing: "Brexit News, Weak Economy And Downward Risks For Pound"

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🗓 Important upcoming events and publications for November 19th (GMT):

🇪🇺 10:00 The EU Currenrt Account Balance rarely causes a strong reaction of #EUR, but since there is just a bit news for today, markets can experience some movement, if there is a strong deviation of the data from the trend. The weakening of the euro with some delay contributes to the proficit expansion, so, the markets are waiting for the indicator’s growth above 24 billion.

🇺🇸15:00 The NAHB US Housing market index had been losing ground at the beginning of the year, but had stabilized in the 2nd half. The US real estate market is returning to the investor’s focus, because the weakening of this sector previously has become a strong indicator of the less consumer activity and now can affect the dynamics of #USD by the end of the day.

Visit https://fxpro.news/economic-calendar/ for more delails.