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TRENDING: EUR/USD| GBP/USD| XAU/USD| AUD/USD| USD/CAD

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EUR/USD HOVERS AROUND 1.0800, LAGARDE SPEECH EYED

EUR/USD is keeping its range around 1.0800 in the European morning on Wednesday.
The pair holds a tepid rebound amid a steady US Dollar, despite a cautious
market mood, dovish ECB expectations and elevated US Treasury bond yields.
ECB-speak awaited. 


RECOMMENDED

 * EUR/USD: If Euro falls further can test 1.0770


EUR/USD News




USD/JPY RECAPTURES 152.00, AWAITS BOJ UEDA'S SPEECH

USD/JPY  has recaptured 152.00 for the first time in three months early
Wednesday. The pair benefits from rallying US Treasury bond yields and sustained
US Dollar strength.  The uncertainty over BoJ rate hikes weighs on the Japanese
Yen, adding to the pair's upside. Ueda's speech eyed. 


USD/JPY News




GOLD PRICE EASES FROM ALL-TIME PEAK, DOWNSIDE POTENTIAL SEEMS LIMITED

Gold price ticks lower, though it lacks follow-through and remains close to the
record high. Bets for smaller Fed rate cuts, elevated US bond yields and the USD
weigh on the XAU/USD. Geopolitical risks, US political uncertainty and easing
monetary policy regime offer support.


Gold News




BTC, ETH AND XRP SHOW SIGNS OF WEAKNESS

Bitcoin price shows signs of weakness after rejection at the $70,000 resistance
on Monday. Ethereum price continues to decline on Wednesday after facing
resistance at around $2,700 at the start of this week. Ripple price was rejected
at its 200-day EMA of $0.552, with a possible decline ahead.


Read more




LATEST NEWS


 1.  USD/INR STEADIES DUE TO POTENTIAL RBI MARKET INTERVENTION, 16TH BRICS
     SUMMIT EYED
     
     By Akhtar Faruqui | 5 minutes ago


 2.  GBP/USD TESTS 1.3000, FACES HEADWINDS DUE TO DOVISH SENTIMENT SURROUNDING
     THE BOE
     
     By Akhtar Faruqui | 13 minutes ago


 3.  FX OPTION EXPIRIES FOR OCT 23 NY CUT
     
     By Dhwani Mehta | 33 minutes ago


 4.  NZD/USD FLAT LINES BELOW MID-0.6000S, SEEMS VULNERABLE NEAR ONE-MONTH LOW
     AMID BULLISH USD
     
     By Haresh Menghani | 45 minutes ago


 5.  JAPANESE YEN WEAKENS FURTHER BELOW 152.00 AGAINST USD, FRESH THREE-MONTH
     LOW
     
     By Haresh Menghani | 53 minutes ago


 6.  ECB STARTING TO DEBATE WHETHER RATES NEED TO GO BELOW NEUTRAL IN LATEST
     EASING CYCLE – REUTERS
     
     By Dhwani Mehta | 05:02 GMT


 7.  AUSTRALIAN DOLLAR RECEIVES DOWNWARD PRESSURE FROM RISK-OFF SENTIMENT
     
     By Akhtar Faruqui | 05:00 GMT


 8.  SILVER PRICE FORECAST: XAG/USD HOVERS NEAR $34.50, 12-YEAR HIGHS
     
     By Akhtar Faruqui | 04:55 GMT


 9.  GOLD PRICE EASES FROM ALL-TIME PEAK, DOWNSIDE POTENTIAL SEEMS LIMITED
     
     By Haresh Menghani | 04:51 GMT


 10. TOP 3 PRICE PREDICTION BITCOIN, ETHEREUM, RIPPLE: BTC, ETH AND XRP SHOW
     SIGNS OF WEAKNESS
     
     By Manish Chhetri | 04:49 GMT


 11. INDIA GOLD PRICE TODAY: GOLD STEADIES, ACCORDING TO FXSTREET DATA
     
     By FXStreet Team | 04:37 GMT


 12. WTI TRADES WITH POSITIVE BIAS AROUND MID-$71.00S, JUST BELOW OVER ONE-WEEK
     TOP
     
     By Haresh Menghani | 03:22 GMT

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DEEPER DIVE




EUROPE’S BOOMING LABOUR MARKET NEEDS TO BRACE FOR CHANGE

The luxury of labour hoarding is coming to an end in the eurozone as corporate
profits dwindle. And that’s going to mean wage growth will ease, unemployment
will tick up and we’ll see more bankruptcies too. A terrible prediction? We’re
actually just getting back to normality.




UNITED STATES: FHLB DEPOSITS, LEADING INDICATORS OF PRESSURE ON LIQUIDITY

On 30 September, the Federal Housing Finance Agency announced its intention to
raise counterparty exposure limits on the deposit accounts of Federal Home Loan
Banks to the same level as those limits set for their federal funds loans, an
approach discussed in its December 2023 report. 




THIS TIME IS NOT DIFFERENT FOR CHINA

High profile policy announcements from China have captured financial markets'
attention over the past few weeks. China's central bank eased monetary policy,
while the Ministry of Finance deployed fiscal resources to aid the property
sector and local banks.





CRYPTOCURRENCIES




CRYPTO LOOKS AT US PRESIDENTIAL ELECTION RESULT TO ADVANCE ON LEGAL CLARITY

US citizens will go to the polls to elect a new president on November 5, and
their choice could be key for the future of the crypto industry and thus the
price outlook for Bitcoin. While the role of crypto and how it should be
regulated in the country was largely ignored four years ago, the matter has been
part of the agenda during the election run-up. 


More Cryptocurrencies News



XRP DECLINES 2% AS SEC VS. RIPPLE LAWSUIT ADVANCES, CRYPTO EXCHANGE UPHOLD
EXPRESSES SUPPORT TO RLUSD

Ripple lost nearly 2% of its value on Tuesday, October 22. The native token of
the XRPLedger could extend its losses as XRP holders speculate the future of the
altcoin, the Securities & Exchange Commission’s lawsuit against Ripple and
Ripple USD’s utility and adoption among institutions. 


More Ripple News



CRYPTO TODAY: BITCOIN PRICE UNCHANGED, ETHEREUM AND XRP CORRECT AS US
PRESIDENTIAL ELECTION DRAWS CLOSE

Bitcoin trades above $67,000 on Tuesday, holding steady on the day. Ethereum and
XRP corrected nearly 2% on the day. US presidential election could influence
Bitcoin and altcoin prices, according to experts. 


More Cryptocurrencies News



ETHEREUM PRICE FORECAST: ETH FUTURES MARKET SEEMS OVERHEATED

Ethereum declines for a second consecutive day on Tuesday after facing rejection
around the $2,700 level the previous day. The downward move was supported by a
mild outflow of over $20 million in US spot Ethereum Exchange Traded Funds. 


More Ethereum News



FXS SIGNALS








STOCKS




AMERICAN EXPRESS SELLS OFF ON LOWER FULL-YEAR REVENUE GUIDANCE PREMIUM

American Express stock swooned over 5% on Friday after it reported third-quarter
results. The company reduced its outlook for full-year revenue guidance from
between 9% and 11% to the lower end of that range, which perturbed market
sentiment.




HOME DEPOT STOCK CLOSES 2.1% LOWER ON MONDAY PREMIUM

Home Depot closed at $406.40 on Monday, 2.1% lower on the day. Home Depot's
stock price has increased 17.27% so far this year, more than the 14.6% advance
registered by the overall Dow Jones Industrial Average (DJIA) index.





ECONOMIC CALENDAR

GMT
Event
Vol.
Actual
Consensus
Previous
Tuesday, Oct 22 23:50
USD Fed's Daly speech




Wednesday, Oct 23 24h
CNY BRICS Summit




24h
USD IMF Meeting




n/a
CNY FDI - Foreign Direct Investment (YTD) (YoY)



-31.5%
09:30
EUR 10-y Bond Auction



2.08%
11:00
USD MBA Mortgage Applications



-17%
13:00
USD Fed's Bowman speech




13:00
GBP BoE's Breeden speech




13:45
CAD BoC Monetary Policy Report




13:45
CAD BoC Monetary Policy Statement




13:45
CAD BoC Interest Rate Decision


3.75%
4.25%
14:00
USD Existing Home Sales (MoM)


3.90M
3.86M
14:00
EUR ECB's President Lagarde speech










REAL-TIME RATES



Customize your rates






WEEKLY FORECAST




EUR/USD: EUROPEAN GROWTH UNDER SCRUTINY AFTER ECB’S DECISION PREMIUM

The EUR/USD pair bottomed at 1.0810 on Thursday, its lowest since early August,
closing for the third straight week in the red a handful of pips above the
level. On the one hand, the US Dollar benefited from a risk-averse environment
and upbeat US macroeconomic data. 


Read full analysis



GBP/USD: POUND STERLING APPEARS ‘SELL-THE-BOUNCE’ TRADE PREMIUM

The Pound Sterling hit two-month lows against the US Dollar, then rebounded.
GBP/USD looks to S&P Global PMIs and Bailey’s speeches for fresh trading
impetus. Technically, any Pound Sterling upswings could be short-lived as long
as the daily RSI stays bearish.


Read full analysis



US DOLLAR: OUTLOOK TURNS TO BULLISH ABOVE THE 200-DAY SMA PREMIUM

The US Dollar (USD) had another strong performance these past few days,
extending its gains for the third consecutive week, including a test of the
critical 200-day SMA around 103.80 when tracked by the US Dollar Index (DXY) for
the first time since the summer.


Read full analysis




GOLD: XAU/USD RALLIES TO NEW RECORD-HIGH AS GLOBAL INTEREST RATE ENVIRONMENT
CHANGES PREMIUM

Gold ignored the broad-based US Dollar strength this week and advanced to a new
all-time high above $2,700 as investors reacted to growing prospects of a
globally lower interest rate environment. Next week’s calendar will feature S&P
Global’s preliminary October PMI data.


Read full analysis



BITCOIN: WILL THE “UPTOBER” RALLY REACH A FRESH ALL-TIME HIGH?

Bitcoin rallied nearly 8% so far this week until Friday after breaking its
resistance barrier, aiming for a fresh ATH. This rise in Bitcoin’s price is
supported by an increase in institutional demand, which showcased a $1.86
billion inflows this week, the largest streak of inflows since mid-July.


Read full analysis



WEEK AHEAD: PRELIMINARY OCTOBER PMI FIGURES IN SIGHT

In the coming week the calendar seems to be getting lighter. On the monetary
front we note the release from China of PBoC’s interest rate decision on
Monday’s Asian session, while the highlight is expected to be from Canada, BoC’s
interest rate decision on Wednesday.


Read full analysis




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