US Dollar Pummelled as ECB and Fed Rate Hikes Loom Amid Tech Frailties

The US Dollar ascendency has been broken as hopes are raised of an easing Federal Reserve hawkishness ahead of anticipated rate hikes by the ECB and the Fed. Will the DXY Index sink?

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Crude Oil Forecast: WTI Aims for October High as US Exports Surge Ahead of Russian Fuel Ban

WTI and Brent crude oil prices are little changed after US inventory data revealed record high exports. An upcoming Russian fuel ban by the EU is disrupting international flows and supply lines.

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Meta Plunges Over 13% on Grim Earnings After Nasdaq Sinks

Meta Platforms Inc.—the Facebook parent company—reported disappointing third-quarter results, sending the stock down over 12% in after-hours trading.

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DAX Rallies into Wedge Resistance as Breakout Potential Builds

The German Dax is testing a critical zone of resistance that could give rise to a potential breakout. Do bulls have what it takes to drive prices higher?

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Gold Price Running Back Into Resistance as the US Dollar Slides

Gold is pushing back into a familiar area of resistance, boosted by a weaker US dollar. The greenback is sitting on support, will it hold?

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Euro Price Forecast: Descending Channel Breakout Potential for EUR/USD

EUR/USD braces ahead of tomorrow’s ECB interest rate decision with parity under consideration for the first time since September.

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Crude Oil Holds Ground as Inventory Data Builds and US Dollar Dips. Will WTI go Higher?

The crude oil price has steadied despite data revealing an increase in US inventory, perhaps aided by a weaker US Dollar as Treasury yields soften. If stockpiles swell again, will WTI sink?

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Will Google Earnings Cut Down S&P 500 Recovery and How Serious is the Event Risk Ahead?

Risk appetite has been on a slow trajectory of recovery in the quiet between major event risk, but confidence for the Nasdaq 100 and S&P 500 may have been shaken by Google’s earnings miss. With a heavy macro docket ahead, volatility risks are high – as is the threshold to commitment to a clear trend.

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Australian Dollar Snubs Red Hot CPI that Takes Puts the RBA on Notice. Where to for AUD/USD

The Australian Dollar ignored the much-anticipated Q3 CPI that came in above expectations at 7.3% ahead of next Tuesday’s RBA rate decision. Will an RBA hike do anything for AUD/USD?

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S&P 500 Futures Turn Lower After Microsoft and Alphabet Post Mixed Earnings. Now What?

Microsoft’s quarterly results topped expectations, but Alphabet’s earnings came well below market forecasts, driving S&P 500 futures lower in extended trading.

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Fed’s Mary Daly Sparks Market Optimism

San Francisco Fed President Mary Daly surprised markets with dovish rhetoric ahead of the Fed’s blackout period

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Euro at Crossroads as ECB Rate Hike Looms While Crude Ponders China’s Growth Outlook

The Euro inched higher against the US Dollar in anticipation of higher European rates while China’s growth prospects have been mired by policy uncertainty. Where to for EUR/USD?

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USDCNH Soars, S&P 500 Diverges from Chinese Markets, USDJPY Falls Short Again

A fundamentally packed week has already opened to significant volatility. Yet, the activity of the S&P 500 and Dollar have bowed to the volatility of the USDJPY and Chinese equity markets. That skew in activity may not last for long with FAANG earnings, key economy growth readings and ECB rate decision ahead.

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Copper Price Outlook: US PMI Miss, China Government Shakeup Bode Poorly for the Red Metal

Copper prices are moving lower in Asia-Pacific trading as traders weigh contrasting economic data and a shakeup in President Xi Jinping’s newly formed government. Meanwhile, a potential breakout is on the horizon.

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Japanese Yen Subdued Against US Dollar After a Whippy Start to the Week

The Japanese Yen consolidated on Tuesday after a hectic start to the week and following on from Friday where wide ranges dominated proceedings. Will the BoJ win in the USD/JPY battle?

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Gold Price Reverses Ahead of Yearly Low to Eye 50-Day SMA

The price of gold may attempt to test the 50-Day SMA ($1691) as it reverses ahead of the yearly low ($1615).

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Australian Dollar Trails Chinese Stocks Lower Despite Dow Jones Gains

The Australian Dollar fell against the US Dollar despite a rosy Wall Street trading session. Fed bets eased after weak PMI numbers, bolstering equities, but Chinese stocks remain under intense selling pressure.

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US Composite PMI Slumps as Factory Output Shrinks, Case for Fed Pivot Grows

U.S. business activity worsened in October on weaker demand conditions, a sign that the economy may be headed for a recession, which could prompt the Fed to abandon its ultra-hawkish stance.

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Bitcoin, Ether Outlook: BTC, ETH Indecisive Ahead of Another Big Week

Bitcoin and Ethereum are trading slightly lower as price action remains conflicted in a narrow range. Question remains, can cryptocurrency break free?

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FTSE 100 Outlook: UK Equities Slump Despite New PM Vote and Weaker GBP

Terrible PMI data overshadows news that Rishi Sunak could be announced as the new prime minister at 14:00 (UK time). Weaker pound fails to lift UK equites

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