{"id":73150,"date":"2024-11-20T13:03:31","date_gmt":"2024-11-20T02:03:31","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=73150"},"modified":"2024-11-20T13:03:32","modified_gmt":"2024-11-20T02:03:32","slug":"general-market-analysis-20-11-24","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/general-market-analysis-20-11-24\/","title":{"rendered":"General Market Analysis \u2013 20\/11\/24"},"content":{"rendered":"\n<p><strong>Stocks Rally Ahead of Nvidia \u2013 Nasdaq Up 1%<\/strong><\/p>\n\n\n\n<p>US tech stocks rallied once again yesterday as investors looked ahead optimistically to Nvidia\u2019s earnings report tonight. The Nasdaq closed the day up 1.04%, the S&amp;P gained 0.40%, while the Dow lost ground, finishing 0.28% down. Treasury yields edged lower, with the 2-year dropping 1.4 basis points to 4.270% and the benchmark 10-year falling 3.6 basis points to 4.379%. The dollar had a relatively flat day, with the DXY up just 0.03% to 106.25, but currencies traded choppily within recent ranges. Oil prices paused for breath, with Brent up 0.01% to $73.31 per barrel and WTI rising 0.30% to $69.39 per barrel. Gold continued its recent recovery, climbing 0.6% to $2,628.45.<\/p>\n\n\n\n<p><strong>Haven Trades in Focus as Ukrainian Conflict Escalates<\/strong><\/p>\n\n\n\n<p>Haven trades took centre stage yesterday after Russia announced it would lower its nuclear strike threshold following Ukrainian strikes on Russian soil using US missiles this week. The market reaction was relatively muted, with Gold rising 0.6% as part of its ongoing recovery and the Ruble falling 0.83% against the dollar. Meanwhile, other traditional haven currencies, such as the Swiss Franc (CHF) and Japanese Yen (JPY), remained steady. Traders are expected to monitor the situation closely over the coming sessions, anticipating potential sharp moves in these assets, alongside the usual dollar appreciation, if the long-running conflict escalates further.<\/p>\n\n\n\n<p><strong>Busier Event Calendar for Traders Today<\/strong><\/p>\n\n\n\n<p>The macroeconomic calendar is looking busier for traders today, with several key data releases ahead of Nvidia\u2019s highly anticipated earnings report after the bell on Wall Street. Attention will turn to China midway through the Asian session as the People\u2019s Bank of China (PBOC) announces any updates to the Loan Prime Rates. No change is expected, although China could still consider adding stimulus to markets, having surprised with rate cuts just a few months ago.<\/p>\n\n\n\n<p>During the European session, sterling traders will focus on the UK\u2019s CPI figures, due out shortly after market open. These will be followed by the European Central Bank\u2019s Financial Stability Report and an update from President Christine Lagarde.<\/p>\n\n\n\n<p>In the US, data releases remain light, but oil traders will eye the weekly US inventory numbers ahead of Nvidia\u2019s critical earnings report, which is set to dominate the session\u2019s close.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stocks Rally Ahead of Nvidia \u2013 Nasdaq Up 1% US tech [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":73151,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[463],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73150"}],"collection":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=73150"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73150\/revisions"}],"predecessor-version":[{"id":73152,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73150\/revisions\/73152"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/73151"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=73150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=73150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=73150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}