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Market Research: Insights Summarized from 6 Leading Financial Sites 11/11/2024
The market is being driven by key economic indicators and sentiment shifts. High inflation in major economies signals potential rate hikes by central banks like the Fed, boosting currencies such as the USD. Risk-averse market sentiment, in light of global uncertainty, has made safe-haven currencies like the USD and CHF stronger. Commodity currencies like CAD are also benefiting from rising oil prices.
Weak currencies right now include the EUR, impacted by slow growth, and GBP, which faces Brexit-related instability. Based on this, potential trading pairs include USD/JPY, CHF/EUR, and CAD/EUR, leveraging the strength of USD, CHF, and CAD against the relative weakness in EUR and GBP.
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https://medium.com/@isahabdulmumin8/forex-market-snapshot-insights-summarized-from-6-leading-financial-sites-11-11-2024-03ca9e7a4b1c 2 replies
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