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FXStreet - The Forex Market

GBP/USD down modestly to 1.3460 on Bailey’s presser

Breaking: Bank of England raises interest rate by 25 bps to 4%, as expected

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EUR/USD comes under pressure; retargets 1.1200

Gold trims gains, returns to $4,100

XRP gains ground as Ripple CEO says US crypto users aren’t going anywhere after midterms, calls for clear rules

NFP stress test: Six payrolls releases, measured in daily-loss limits

Friday's US employment report is usually previewed in terms of the headline number and the reaction in the Dollar. For a growing group of traders, those running funded or evaluation accounts with a fixed daily loss limit, there is a more practical question: how much of that limit can the first hour consume, regardless of direction?

Latest News

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Euro loses momentum as US Dollar regains footing after election-led volatility

Vishal Chaturvedi

10 minutes ago

Mexican Peso: Banxico seen on hold with dovish risks – Commerzbank

FXStreet Insights Team

23 minutes ago

Federal Reserve: Further tightening expected despite political shift – TD Securities

FXStreet Insights Team

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Australian Dollar: Neutral after sharp rebound from lows against US Dollar – UOB

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Silver: Recovery extends but industrial risks linger – OCBC

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Gold stalls below $4,150 as US Dollar regains ground, NFP looms

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SNB’s Schlegel: Policy rate remains our main tool

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Euro: Supported by ECB hike prospects – Commerzbank

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Binance revokes SignalPlus API keys over potential security threat

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In-Depth Analysis

US Dollar breaks below 101.50 as Democrats sweep Congress

The US Dollar (USD) comes under heavy selling pressure on Wednesday, with the US Dollar Index (DXY) falling around 0.5% to trade near 101.35 after sliding below the 101.50 level. The Greenback retreats to its lowest level in four weeks as investors reassess the political and economic outlook following the Democratic Party's sweeping victory in the United States (US) midterm elections.

Gold is back at $4,000. Don't celebrate yet

The Fed can't fix this inflation. It's a mechanical weight, not a demand problem

What a split Congress means for the US Dollar

The United States (US) is going to the polls on Tuesday, and much is at stake. The mid-term elections mean the renovation of roughly one-third of the Senate and all 435 of the House seats. Additionally, special elections in Florida and Ohio will be held to fill the seats vacated by US Secretary of State Marco Rubio and Vice President JD Vance.

Can the New Zealand Dollar hold 0.5600 this time?

Gold's bounce off $3,870 isn't a bottom yet

Cryptocurrencies

Binance revokes SignalPlus API keys over potential security threat

Binance, the largest cryptocurrency exchange, announced on Thursday that it revoked the Application Programming Interface (API) keys linked to SignalPlus, a third-party institution-grade technology firm.

XRP gains ground as Ripple CEO says US crypto users aren’t going anywhere after midterms, calls for clear rules

Ripple (XRP) ticks higher on Thursday, trading near $1.32. The remittance token is up roughly 10% from last week’s trough at $1.20, suggesting that the path of least resistance is gradually flipping upward.

Top Altcoins Price Forecast: Ripple, Cardano and Solana extend post-midterms rally

Top altcoins, including Ripple (XRP), Cardano (ADA), and Solana (SOL) are trading in the green on Thursday, extending a steady recovery so far this week, driven by the post-US midterms relief.

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Stocks

While stock market celebrates Dem sweep, the AI trade deteriorates

The US stock market is giddy on Wednesday as the Democratic Party's resounding success at the ballot box has translated into big stock index gains. A widespread belief that the heavy Democratic win, which is still being tabulated in many races, will usher in an end to President Donald Trump's tariffs and volatile trade policy has led the Dow Jones Industrial Average (DJIA) to surge 2.8%.

Weekly Forecast

EUR/USD: US President Donald Trump judgment day has come

The EUR/USD pair settled around 1.1160, down for the week and closing October with losses. The US Dollar (USD) advanced through the first half of the week but changed course after the Federal Reserve (Fed) monetary policy announcement, then fell further after the European Central Bank (ECB) reported the same decision. The Greenback regained some poise on Friday, as risk aversion took the lead.

European Central Bank faces 3-year-high inflation at 3.8%

The European Central Bank (ECB) faces a difficult monetary policy environment as Eurozone inflation reached 3.8% in September, its highest level in three years and almost twice the central bank's 2% target.

Gold: Bears dominate even as US yields push lower ahead of midterm election

Bitcoin: Binance security breach and hawkish Fed push BTC lower

Bitcoin (BTC) continues to weaken this week, down more than 3% and heading for its fourth straight weekly loss. The largest cryptocurrency by market capitalization is facing a bearish outlook, fueled by a hawkish Federal Reserve (Fed) outlook at the October meeting and a reported $6.3 billion hack at Binance, which is driving risk aversion and triggering heavy liquidations.

US Dollar: A hawkish Fed is no longer enough

The US Dollar (USD) managed to regain some composure, ending the week with acceptable gains after surrendering some ground following earlier two-week highs. Indeed, the US Dollar Index (DXY), at some point in the last few days, popped to as high as the 102.50 zone, just to lose some momentum soon afterwards despite keeping its weekly bullish mood well in place.