Global Foreign Exchange News and Analysis

XAUUSD has fallen from a high of $1,781.48 to a low of $1,775.97, capped within a potential ceiling of the recent bullish correction. The yellow metal did perk up on the back of rising geopolitical risks and a weaker USD from the start of the session. Anxiety ahead of UK’s key data, Autumn budget joins Poland-inspired sour sentiment to challenge traders. The news weighs on the market sentiment and allows the US Dollar to pare recent Forex news losses. As a result, the EURUSD remains sidelined near 1.0350, down 0.05% intraday by the press time. Elsewhere, a widening trade deficit in India and the previously downgraded economic forecast weigh on the INR. “India’s merchandise trade deficit in October widened to $26.91 billion from $25.71 billion in the previous month,” a Reuters calculation based on export and import data released by the government on Tuesday showed.

However, the aforementioned bullish channel’s upper line, close to $22.60, could challenge the silver buyers afterward. DotBig company Fears of Monetary policy divergence between US Federal Reserve and European Central Bank seem to favor EURUSD bulls.

Daily Forex News and Watchlist: USD/CAD

Gold Price is trading with solid gains on Tuesday after the release of a soft Producer Price Index report in the United States, strengthening the… Just after the news broke Wall Street pared initial gains and DotBig overview the US Treasury yields rebounded from the intraday low. AUDUSD grinds lower around 0.6750, after refreshing a two-month high, as risk-off mood joins pre-data anxiety to challenge buyers during early Wednesd…

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In light of advanced prints from CME Group for crude oil futures markets, traders scaled back their open interest positions by around 14.2K contracts following four consecutive daily builds on Tuesday. Volume, on the other hand, rose for the second straight session, this time by nearly 114K contracts. Furthermore, recession fears – amid worries about headwinds stemming from the protracted Russia-Ukraine war and economically-disruptive COVID-19 lockdowns in China, might cap the optimism.

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  • This week starts with the news from China, the first US election results, and fresh speculations over the crypto market and the FTX scandal.
  • With analysts covering the Asia-Pacific, European, and U.S. trading sessions, you will never be out-of-the-loop when it comes to FX news.
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  • This could help limit losses for the USDCAD pair ahead of the latest consumer inflation figures from Canada and the US monthly Retail Sales data, due later during the early North American session.
  • This has made smartphone trading apps extremely popular with forex traders.
  • Meanwhile, the 10-year US Treasury yields dropped further to 3.77% as the Federal Reserve is highly expected to drop the continuation of the 75 basis points rate hike regime in its December monetary policy meeting.

The economic catalyst landed higher at 57.4 vs. the prior release of 55.9%. This week, the NZ economic calendar has nothing important to offer, therefore, the entire focus of investors will remain on geopolitical events for further guidance. Given the latest risk aversion, as well as the pre-data caution, the AUDUSD pair is likely to remain pressured ahead of Australia’s Wage Price Index for the third quarter , expected 0.9% QoQ versus 0.7% prior. That said, an improvement in the wages could help the RBA to turn down the dovish expectations, which in turn may help the Aussie pair to consolidate the latest losses.

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