Watch S&P 500 earnings this week: Gold climbing on Ukraine/Russia tension [Video]

Brad Alexander FX Large Limited

Welcome to this week’s Market Blast Fundamentals.

I’m Brad Alexander and, on behalf of Valutrades, today we will take a look at EURUSD, USDNOK, Gold (XAUUSD), the DJIA (US30), and the S&P500 (US500).

The S&P 500 has fallen back to an important technical level and we will look at this tomorrow.

This week, however, we will see earnings reports from large institutions like Goldman Sachs, Proctor & Gamble, Bank of America, and Morgan Stanley so we may get a rebound in the S&P 500 and the Dow Jones Industrial Average.

…or we may see more bad news as the markets are already considering that the US Federal Reserve will raise Interest Rates in March.

Gold is still climbing, probably based on the Ukraine/Russia tensions, so any news, good or bad, will affect price action on XAUUSD.

We have two Interest Rate decisions this week: one tomorrow from Japan and another Thursday from Norway so we might want to watch for volatility on USDNOK.

Also, investors will be listening to Christine Lagarde on Friday as European Inflation is becoming a big problem and the ECB may have to consider raising Interest rates sooner than 2023.

Author

Brad Alexander

FX Large Limited

Brad became fascinated with the Currency Markets from a young age and researched fundamental analysis.

AUD/USD consolidates above 0.7000; remains close to monthly top

AUD/USD holds steady above 0.7000 during the Asian session on Friday, trading just below the previous day's monthly low amid diverging forces. A hawkish RBA continues to support the Aussie, while the recent decline in US bond yields keeps the US Dollar depressed near a three-week low. However, oil-driven inflation fears reinforce Fed hike bets, which, along with geopolitical risks, could benefit the safe-haven buck and cap the currency pair.

USD/JPY bounces off one-month low; climbs to 157.00 amid reviving USD demand

USD/JPY rebounds from the 156.00 neighborhood, or a one-month low touched during Friday’s Asian session, with bulls looking to extend momentum beyond 157.00 amid the emergence of some US Dollar buying. Meanwhile, Japan's National CPI rose to a nine-month peak and reaffirmed BoJ rate-hike bets, which could support the Japanese Yen and cap gains for the currency pair.

Gold treads water around $4,000

Gold prices maintain its offered stance in place at the end of the week, hovering around the key $4,000 threshold per troy ounce. The persistent selling bias in the precious metal comes amid decent gains in the US Dollar and an acceptable rebound in US Treasury yields across the curve, all alongside further upside traction in crude oil prices.

Crypto Today: Bitcoin holds the 50-day EMA as Ethereum and XRP face structural resistance

Bitcoin gradually ticks up on Friday, trading above $81,000. The Crypto King has recently defended structural support near $80,000, reinforcing the prevailing bullish outlook. Ethereum similarly edges higher above $2,400, while Ripple trades above $1.32 after testing support around $1.30.

The French bond panic is overdone. Here's what the market is misreading

France's 10-year government bond yield has climbed above 5%, reigniting fears of a sovereign debt crisis in the Eurozone. With public debt exceeding €3.5 trillion, persistent budget deficits and a fragmented political landscape, investors are increasingly questioning the French government's ability to stabilize its finances.

What November 3 means for the Fed's rate path and the US Dollar

The USD faces a decisive period ahead of the November 3 midterm elections. While markets anticipate another interest rate increase from the Fed in December, the battle for control of Congress could reshape fiscal policy expectations and, indirectly, the path of US monetary policy in 2027.