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Silver Price Forecast: XAG/USD bulls defend uptrend as RSI cools, eyes breakout above $53.77
Silver Price Forecast: XAG/USD bulls defend uptrend as RSI cools, eyes breakout above $53.77
Silver (XAG/USD) extends its record-breaking advance on Wednesday, trading near $52.60 and up over 2.50% on the day after erasing the previous day’s losses.
Silver
XAGUSD
Technical Analysis
UpTrend
BoE policy bets steady as November cut expectations fade – Rabobank
BoE policy bets steady as November cut expectations fade – Rabobank
As has been the case since August, the market no longer expects the BoE to cut rates at the November policy meeting. Currently market implied policy rates suggest that 2 bps of easing is expected on a 1-month view and 12 bps in 3 months, Rabobank's FX analyst Jane Foley reports.
Banks
BOE
CentralBanks
Technical Analysis
USD/CNH: Likely to trade in a range between 7.1300 and 7.1450 – UOB Group
USD/CNH: Likely to trade in a range between 7.1300 and 7.1450 – UOB Group
US Dollar (USD) is likely to trade in a range between 7.1300 and 7.1450. In the longer run, USD is expected to trade in a range between 7.1200 and 7.1550, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Banks
Technical Analysis
USDCNH
USD/JPY may edge lower and test 151.20 – UOB Group
USD/JPY may edge lower and test 151.20 – UOB Group
US Dollar (USD) may edge lower and test 151.20; a continued decline below this level is unlikely. In the longer run, the current price movements are likely the early stages of a 149.50/153.00 range-trading phase, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
USDJPY
Technical Analysis
Banks
BofA, Morgan Stanley earnings beat estimates in Q3
BofA, Morgan Stanley earnings beat estimates in Q3
That will keep the optimism flowing in financials as earnings season is off to a good start
GBP/JPY Price Forecast: Pound returns above 202.00 on risk-on markets
GBP/JPY Price Forecast: Pound returns above 202.00 on risk-on markets
The British Pound is posting moderate gains on Wednesday, as a mild appetite for risk and ongoing political uncertainty in Japan weigh on the Japanese Yen. The Pair has returned beyond the 202.00 level, after bouncing from 201.35 lows on Tuesday.
GBPJPY
Currencies
Technical Analysis
Crosses
NZD/USD: Chance for NZD to test 0.5660 – UOB Group
NZD/USD: Chance for NZD to test 0.5660 – UOB Group
New Zealand Dollar (NZD) is likely to range-trade between 0.5690 and 0.5730. In the longer run, there is a chance for NZD to test 0.5660 before the risk of a stronger recovery increases, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
NZDUSD
Technical Analysis
Banks
AUD/USD: Chance for AUD to test 0.6440 – UOB Group
AUD/USD: Chance for AUD to test 0.6440 – UOB Group
Australian Dollar (AUD) is likely to range-trade between 0.6460 and 0.6520. In the longer run, further declines in AUD still appear likely; the next level to watch is 0.6440, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
AUDUSD
Technical Analysis
Banks
Nasdaq Technical Analysis: We are testing a key resistance zone
Nasdaq Technical Analysis: We are testing a key resistance zone
The Nasdaq recovered most of the losses from Friday's selloff as the market continues to bet on more de-escalation ahead of the November 1 deadline. What's next?
Nasdaq Technical Analysis
GBP: UK data provide mixed signals with BoE outlook finely balanced – MUFG
GBP: UK data provide mixed signals with BoE outlook finely balanced – MUFG
The Pound Sterling (GBP) underperformance yesterday was contained mostly to against the core G10 currencies with the risk-off sentiment resulting in the high-beta G10 currencies like NOK and AUD performing worse.
GBPUSD
Banks
BOE
EURGBP
Technical Analysis
Balanced
Gold Price Forecast: XAU/USD appreciates beyond $4,200 amid higher Fed cut bets
Gold Price Forecast: XAU/USD appreciates beyond $4,200 amid higher Fed cut bets
Gold is trading higher for the fifth consecutive day on Wednesday, attempting to confirm the breach of the $4,200.
Gold
XAUUSD
Metals
Fed
Technical Analysis
S&P 500 Technical Analysis: De-escalation remains the base case for the market
S&P 500 Technical Analysis: De-escalation remains the base case for the market
The S&P 500 continues to recover the losses as the market looks forward to more de-escalation before the November 1 deadline. What's next?
S&P Futures Technical Analysis
GBP/USD: Likely to trade in a range between 1.3290 and 1.3365 – UOB Group
GBP/USD: Likely to trade in a range between 1.3290 and 1.3365 – UOB Group
Pound Sterling (GBP) is likely to trade in a range between 1.3290 and 1.3365. In the longer run, downward momentum has slowed somewhat, but there is still a chance for GBP to decline to 1.3200, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
GBPUSD
Banks
Technical Analysis
DXY: Powell sets a dovish tone – OCBC
DXY: Powell sets a dovish tone – OCBC
Recent rise in US Dollar (USD) was stopped in its track. DXY last at 98.81 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
DollarIndex
Banks
Technical Analysis
Fed
EUR/USD: Likelihood of EUR reaching 1.1490 is decreasing – UOB Group
EUR/USD: Likelihood of EUR reaching 1.1490 is decreasing – UOB Group
Euro (EUR) could rise, but any advance is likely part of a higher range of 1.1575/1.1635. In the longer run, the likelihood of EUR reaching 1.1490 during this phase of weakness is decreasing, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
EURUSD
Banks
USD/JPY: Unwinding of Takaichi trade – OCBC
USD/JPY: Unwinding of Takaichi trade – OCBC
USD/JPY extended its move lower as Japanese political developments continued to unravel. JPY fell 4% at one-point post-LDP election. Pair was last at 151.22 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
USDJPY
Technical Analysis
Banks
BOJ
Japan
AUD: Jobs data in focus, but trade tensions dominate – ING
AUD: Jobs data in focus, but trade tensions dominate – ING
Australia releases September jobs data overnight, with consensus expecting a 20k rise in employment after August’s 5k drop, ING's FX analyst Francesco Pesole notes.
Banks
Technical Analysis
AUDUSD
Australia
USD/CNY: The pair is guided by the lower fix – OCBC
USD/CNY: The pair is guided by the lower fix – OCBC
USD/CNY gapped lower in the open this morning, guided by lower USD/CNY fix at 7.0995 (vs. 7.1021 yesterday). It appears that 7.10 is no longer the line in the sand. USD/CNY last seen at 7.1245, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Banks
USDCNH
Technical Analysis
China
PBOC
USD/MXN tests resistance as momentum turns positive – Société Générale
USD/MXN tests resistance as momentum turns positive – Société Générale
USD/MXN has rebounded from its 18.20 low but continues to face resistance at the 50-DMA. A break above 18.65 is needed to confirm an extended recovery, while failure to clear it could invite renewed downside pressure, Société Générale's FX analysts note.
USDMXN
Banks
Technical Analysis
Mexico
EUR: Finally, some good news – ING
EUR: Finally, some good news – ING
The Euro (EUR) found support yesterday after positive political developments in France, ING's FX analyst Francesco Pesole notes.
EURUSD
Banks
Technical Analysis
EUR/USD: French PM survives another day – OCBC
EUR/USD: French PM survives another day – OCBC
Euro (EUR) was a touch firmer overnight as political uncertainties in France found a breather. EUR last seen at 1.1637 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
EURUSD
Technical Analysis
Banks
EUR/JPY Price Forecast: Holds losses near 176.00 near nine-day EMA support
EUR/JPY Price Forecast: Holds losses near 176.00 near nine-day EMA support
EUR/JPY depreciates after registering little gains in the previous session, hovering around 176.00 during the European trading hours on Wednesday. The technical analysis of the daily chart indicates a bullish revival as the currency cross remains within the ascending channel pattern.
EURJPY
Crosses
Technical Analysis
Gold Technical Analysis: Lack of bearish drivers keeps the bullish momentum intact
Gold Technical Analysis: Lack of bearish drivers keeps the bullish momentum intact
Gold continues to print new all-time highs amid the lack of bearish catalysts and the renewed US-China tensions. What's next?
Eurostoxx futures +1.3% in early European trading
Eurostoxx futures +1.3% in early European trading
French stocks seen rebounding strongly but political uncertainty remains, especially on the budget
Equities look to bounce back in the new day
Equities look to bounce back in the new day
US and European futures nudge higher as we get to the handover from Asia to Europe
Silver Price Forecast: XAG/USD rebounds toward $52.50 within overbought zone
Silver Price Forecast: XAG/USD rebounds toward $52.50 within overbought zone
Silver price (XAG/USD) trades around $52.30 per troy ounce during the Asian hours on Wednesday after recovering losses registered in the previous session.
XAGUSD
Silver
Technical Analysis
Commodities
Metals
ICYMI: Fed chair Powell warned about downside risks to the labour market
ICYMI: Fed chair Powell warned about downside risks to the labour market
Did Powell make those remarks after having glanced at the September jobs report?
EUR/CAD Price Forecast: Seem poised to retest multi-year top, around 1.6400
EUR/CAD Price Forecast: Seem poised to retest multi-year top, around 1.6400
The EUR/CAD cross is seen building on its recent bounce from the 1.6170-1.6175 area, or a three-week low touched last Friday, and gaining traction for the second straight day.
EURCAD
Technical Analysis
Crosses
Currencies
AUD/JPY Price Forecast: Bullish tone prevails, first upside barrier emerges near 99.50
AUD/JPY Price Forecast: Bullish tone prevails, first upside barrier emerges near 99.50
The AUD/JPY cross holds steady near 98.50 during the early European trading hours on Wednesday. Renewed trade tensions between the US and China, and persistent geopolitical tension might underpin safe-haven currencies like the Japanese Yen (JPY) and cap the upside for the cross.
AUDJPY
Technical Analysis
Crosses
Bullish
PBOC sets USD/ CNY mid-point today at 7.0995 !!! (vs. estimate at 7.1281)
PBOC sets USD/ CNY mid-point today at 7.0995 !!! (vs. estimate at 7.1281)
PBOC CNY reference rate setting for the trading session ahead. Cracking the 7.1 round number
CNY
CNH
pboc
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