Forex Analysis
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Editors’ Picks
AUD/USD bounces toward 0.6650 on China stimulus optimism
AUD/USD is bouncing back toward 0.6650 on Thursday. The pair turns hopeful that the downbeat Chinese NBS PMI data would prompt China's authorities to ramp up stimulus measures. A subdued US Dollar performance is aiding the pair 's rebound ahead of key US PCE inflation data.
EUR/USD remains capped below 1.1000, EU/ US inflation data eyed
EUR/USD is struggling below 1.1000, as the US Dollar clings to recovery gains in Asian trading hours on Thursday. Wednesday's softer-than-expected German and Spain inflation data weighed on the Euro. Investors await the Eurozone inflation data on Thursday for fresh impetus.
FXS SIGNALS
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.
US could soon see 2% inflation
At the recent FOMC press conference, Fed Powell said that the economy has “been able to achieve pretty significant progress on inflation without seeing the kind of increase in unemployment that has been very typical of rate hiking cycles like this one”.
Annual outlook: Weathering the storm
Despite the 525 bps of rate hikes that the Federal Open Market Committee (FOMC) has implemented since March 2022, the U.S. economy generally remains resilient due, in large part, to continued strength in consumer spending. Meanwhile, inflation has receded.
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REAL-TIME RATES
CRYPTO KEYS
XRP price stuck under $0.65 despite Bitcoin hitting $38,000 three times in one week
Ripple (XRP) and Bitcoin (BTC) prices do not show parity. Despite both featuring among the crypto top three, Ripple price is stuck under $0.6500 while Bitcoin has managed to foray north, testing the $38,000 psychological level for the third time in a week.
FTX token FTT jumps 8% as exchange wins approval to start selling $744 Million in Grayscale and Bitwise assets
FTX token (FTT) has jumped 8% following news that a US bankruptcy court of Delaware has allowed the now-defunct cryptocurrency exchange to move forward with a November 6 request.
Optimism price slips under critical support as $40 million worth of OP due to flood market Thursday
Optimism (OP) price has dropped 5% in the last day, but trading volume is up a stark 15% over the last 24 hours as of press time. The disparity comes amid expectations of more tokens in the OP market relative to what traders are willing to buy at current prices.