ExnessOfficial
Exness Representative
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This weekly preview examines USOIL and XAUUSD, focusing on upcoming economic data. These figures will drive market trends for the near-term outlook. Here's the most significant economic data for this week:
Wednesday:
- Chinese Industrial Production data will come out at 02:00 AM GMT. October's figure is expected to fall to 4.3%, down from 4.5%. Confirmation of this prediction could lead to losses in production-related commodities like crude oil, silver, and copper.
- The UK inflation rate will be updated at 07:00 AM GMT. It is anticipated to drop from 6.7% to 4.8% for October. Should this be the case, it would mark the lowest annual UK inflation rate. This could result in brief, minor losses for the pound, potentially influencing the Bank of England's upcoming decisions.
