![The only two ways to win in trading [Video]](https://editorial.fxstreet.com/images/Psychology/emotional-young-businesman-rejoices-win-at-the-computer-62396210_XtraSmall.jpg)
AUD/USD consolidates its losses around 0.6360 ahead of RBA rate decision
The AUD/USD pair consolidates its recent losses above the mid-0.6300s during the early Asian session on Tuesday. Traders prefer to wait on the sidelines ahead of the Reserve Bank of Australia (RBA) monetary policy meeting on Tuesday.
EUR/USD slides further under 1.0500 as DXY rises above 107.00 Premium
EUR/USD continued to face downward pressure and dropped below 1.0780, reaching the lowest intraday level since December of last year. The pair remains under pressure as the US Dollar maintains firm support due to higher US yields and cautious market sentiment. The DXY rose above 107.00 for the first time since November.
Gold approaches $1,800 as demand for the USD prevails Premium
Spot Gold fell to a fresh multi-month low of $1,827.11 a troy ounce on Monday amid resurgent US Dollar demand. The Greenback suffered a minor setback at the beginning of the week, as generally encouraging Chinese data and upbeat United States (US) news underpinned the mood.
@Satoshi X account tweets for first time in 5 years, touts Bitcoin as a predicate machine
@Satoshi, an account purporting to be associated with the presumed pseudonymous person(s) who developed Bitcoin, tweeted on October 2. The user commits to revealing new insights and discussions left out of the original BTC whitepaper. This is the first time the account has shown activity in five years, since 2018.
PMIs paint a bleak picture for manufacturing but China offers hope
Manufacturing PMIs released throughout the day have made for pretty miserable reading and even those in China barely registered any growth after a lengthy period of contraction. The Chinese data did offer some cause for hope at least, despite ultimately barely sitting in growth territory.
DEEPER DIVE
Global economic growth is weakening
Global economic growth is weakening and the cycle of interest rate hikes is at or about to peak in the Eurozone and the USA. We consider US government bonds to be attractively valued. In global equity markets, we expect only slight growth with increased volatility.
Surging Oil prices: A new concern for central banks
Surging oil prices have become the new concern for central banks, aggravating the current trilemma: how to balance slowing economies, still too-high inflation and the delayed impact of unprecedented rate hikes.
US government shutdown makes it likely the Fed is finished hiking
The impending government shutdown will be economically disruptive and will restrict the flow of data the Fed will need to see to justify hiking interest rates further.
FXS Signals
Technical Confluences Detector
Gold: Will Fed Chair Jerome Powell rescue XAU/USD buyers? Premium
Gold price is trading below $1,840, at its lowest level since March 10, setting off the final quarter of this year on a negative note. The United States Dollar (USD) is consolidating the previous rebound above the 106.00 level against its major peers, underpinned by a fresh upswing in the US Dollar.
Focus on critical US ISM PMI, Jerome Powell’s speech
Gold price is extending its losing streak into the sixth straight day on Monday, as the US Dollar is looking to find fresh demand amid a cautious mood even though the United States averted a government shutdown. The US Congress late on Saturday voted to pass a stopgap funding bill, with overwhelming Democratic support in a bid to avoid the federal government's fourth partial shutdown in a decade.
China’s business PMIs came in mixed over the weekend, denting the investors’ sentiment amid a Chinese Golden week holiday-induced light trading.
CRYPTOCURRENCIES
Three altcoins that have kickstarted Q4 rally: LINK, RDNT, FLOKI
Chainlink price has been on a tear for the last two weeks and has the potential for more upside. Radiant Capital price has breached a falling wedge and shows promise of further ascent.
Week ahead: Fed speech and NFP likely to dictate crypto market moves this week
With the start of 2023’s fourth quarter, things are finally getting interesting in crypto. While the next 12 weeks are extremely important, let’s start by focusing on what to expect this week.
DOT confirms trend reversal, eyes retest of $5 after reclaiming key hurdle
Polkadot price trades inside a tight range above a critical support level of $3.98. The daily RSI produced a higher high, signaling a surge in bullish momentum and a potential breakout scenario.
FLOKI sets stage for 30% rally
Floki Inu (FLOKI) price has triggered a quick but explosive uptrend in the last 24 hours. The uptrend has pushed the meme coin above a key hurdle and could assist FLOKI bulls in reversing the downtrend.
THE STOCK OF THE DAY
NIO advances moderately on Q3 delivery achievement
Nio (NIO) stock advanced lightly in early Monday trading as the Chinese electric vehicle (EV) purveyor met its quarterly delivery target after announcing deliveries of 15,641 units in September.
ECONOMIC CALENDAR
WEEKLY FORECAST
EUR/USD: Optimism not enough to take the US Dollar down Premium
The EUR/USD plummeted to 1.0487 on Wednesday, its lowest since early March, as investors continued to seek refugee in the US Dollar. Financial markets were in risk-averse mode following central banks’ monetary policy decisions from earlier this month, as despite holding fire, most policymakers reaffirmed the inflation risks remain high and rates should stay higher for longer to maintain price pressures under control.
GBP/USD: Dollar shows signs of exhaustion but remains the favorite Premium
The GBP/USD experienced a rebound after reaching its lowest level since March, near the 1.2100 area. After a prolonged rally, the US Dollar finally paused, leading to a rebound of the Cable. This move was aided by a retreat in US yields and an improvement in market sentiment.
Gold: Technicals turn bearish ahead of key events Premium
Despite holding resilient in the face of a hawkish Federal Reserve outlook in the previous week, Gold price suffered heavy amid broad-based US Dollar (USD) strength and surging US Treasury bond yields. XAU/USD staged a modest rebound on Friday but ended up losing more than 2% for the week.
Bitcoin: BTC recovery rally could be bull trap in disguise, here’s why
Bitcoin (BTC) price remains unfazed even after the multiple spot BTC ETF delays from the US Securities & Exchange Commission (SEC). But investors need to be careful with the ongoing BTC rally as it could be a trap for early bulls.
Currency market: FX next week
EUR/USD in January 2020 traded 1.2359 and DXY 90.44 or roughly 3300 pips. The EUR/USD Vs DXY distance was to wide for the market to allow further EUR/USD highs and DXY lows. The reversal to EUR/USD shorts and DXY longs began.
The week ahead - US Nonfarm Payrolls, Tesco and Wetherspoon results
Having seen the Federal Reserve leave rates unchanged as expected at their recent September meeting the jury remains out as to whether we will see another rate hike at the next meeting in November.
EDUCATION
![Top three Gold trading strategies [Video]](https://editorial.fxstreet.com/images/Markets/Commodities/Metals/Gold/gold-gm187363896-28836378_XtraSmall.jpg)
![Unmasking the bear's footprint – Is there still room for growth? [Video]](https://editorial.fxstreet.com/images/Markets/Equities/SP500/wall_street_nyse4-637299025173341169_XtraSmall.jpg)
Release your trading powers
Release FXStreet Premium!
Get unlimited Premium real time Analysis. Stay up to speed of the market movements and become the best forex trader ever!
