EUR/USD remains below 1.0800 amid rising odds of a less dovish approach from the Fed

EUR/USD may struggle, as recent US data has increased the odds of the Fed taking a less dovish stance in November. The heightened uncertainty surrounding the Middle East and the US presidential election supports the safe-haven US Dollar. ECB’s Klaas Knot emphasized the importance of “keeping all options open” to manage potential risks to growth and inflation. The EUR/USD…

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Premium Watchlist Recap: Oct. 22-23, 2024

This week our currency strategists focused on the Bank of Canada interest rate statement and the Euro Area PMI survey updates for potential high-quality setups. Out of the eight scenario/price outlook discussions this week, two discussions arguably saw both fundie & technical arguments triggered to become potential candidates for a trade & risk management overlay.  Check out our review on…

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Japanese ruling coalition loses majority in election; USD/JPY reacts with volatility

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you…

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China’s industrial profits collapse in September: -27.1% y/y (vs -17.8% y/y prior)

China’s National Bureau of Statistics (NBS) slip[ped these out over the weekend: industrial profits September, -27.1% y/y prior -17.8% in August earnings -3.5% in the January – September period prior +0.5% (January-August period) according to the National Bureau of Statistics (NBS). That plunge for industrial profits in September is the biggest monthly decline all year. NBS says the collapse…

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NZDUSD trades above and below 0.6000

The NZDUSD has moved lower this week, and in the process moved below a swing area between 0.6031 and 0.60387. That swing area was retested yesterday on a corrective move higher and found willing sellers. On the downside, the low price reached earlier today stalled at 0.5986. That was just short of the high of a lower swing area…

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