Forex forecasts and market outlooks

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15.11.2019 - 09.11.2019

Walmart Inc. (WMT/NYSE): general review

Walmart shares are trading at a 1.1% discount to a 52-week high of October 18, reflecting an uptrend since early November. Since the beginning of the year, the emitter's quotes strengthened by 28%. On November 14, before the market opens, the company will report for Q3 2019. The Wall Street forecasts profit growth of 0.93% (YoY) to USD 1.09 with revenue growth of 3.28% (YoY) to USD 128.99 billion.

XAU/USD: Fibonacci analysis

On a 4-hour chart, the price reversed at 1445.50 (0.0% correction) and began to grow, breaking through 1461.50 (23.6% correction). Further strengthening is possible to 1471.60 (correction 38.2%) and 1487.60 (correction 61.8%). However, in order to achieve the levels, the price will have to break through the downward fan. In case of a reverse breakdown below the level of 1461.50, it may return to the level of 1445.50.

Ripple: general review

This week, the quotes of the XRP coin, following the rest of the cryptocurrency market, were corrected downwards and reached the level of 0.2685. The factors that affect it negatively remain the industry’s opposition from the state regulator and the likely launch of new state digital assets.

Industrial Production. EU, 12:00 (GMT+2)

At 12:00 (GMT+2), EU data on the volume of industrial production for September will be published. The indicator reflect the level of change in the volume of industrial production and utilities in the country. The calculation of the indicator takes into account the manufacturing and mining industries, as well as the electric power industry. It is expected that production in September will decrease by 0.3% MoM and by 2.3% YoY. The implementation of the forecast may put pressure on the euro.

Consumer Price Index. United Kingdom, 11:30 (GMT+2)

At 11:30 (GMT+2), data on the consumer price index in the UK for October will be released. It is the main indicator of inflation in the country and determines the change in the level of retail prices for a certain “basket” of goods and services: food, transportation, utilities, healthcare and so on. On a monthly basis, the consumer price index is expected to show deflation at –0.1%, while on an annualized basis it will slow down growth from 1.7% to 1.6%. Realization of the forecast may put pressure on the pound.

GBP/USD: general analysis

Due to the celebration of Veterans Day in the US, USD could not contain the volatile fluctuations of GBP. A sharp increase of more than 1000 points due to the opposition’s announcement of support for early elections almost completely recouped after the poor employment data publication next day. The unemployment rate was expected to reach 3.3% but it rose to 3.4%.