FX Today: Focus should be on RBA Minutes, ADP Weekly and Fedspeak

Pablo Piovano FXStreet

The US Dollar (USD) managed to regain fresh upside impulse on Monday, rebounding from recent multi-day lows as market participants continued to gauge upcoming US data releases and the likelihood of further rate cuts by the Federal Reserve.

Here’s what to watch on Tuesday, November 18:

The US Dollar Index (DXY) added to Friday’s marginal gains, advancing modestly and flirtign with three-day highs around the 99.50 region. The ADP Employment Change Weekly is due, seconded by Factory Orders, the NAHB Housing Market Index and the API’s weekly report on US crude oil inventories. In addition, the Fed’s Logan and Barr are due to speak.

EUR/USD retreated for the second day in a row at the beginning of the week, extending Friday’s correction to the 1.1590-1.1580 band. The speeches by the ECB’s Machado, Tuominen, Buch and Elderson will be on top of the euro agenda.

GBP/USD came under further downside pressure, revisiting the boundaries of the 1.3130 region amid the stronger Greenback. The speech by the BoE’s Dhingra will be the only event across the Channel.

USD/JPY resumed its uptrend on Monday, revisiting the 155.30 region for the first time since early February. Next on tap in Japan will be the Balance of Trade results followed by Machinery Orders on November 19.

AUD/USD set aside Friday’s uptick and confronted multi-day troughs near the key 0.6500 support. The RBA Minutes will take centre stage in Oz.

WTI rose for the third straight day, briefly surpassing the key $60.00 mark per barrel as traders assessed the resumption of exports at the Russian port of Novorossiysk on Sunday, all amid the steady threats of further Ukrainian attacks to Russian oil facilities and potential extra US sanctions on Russian oil.

Gold extended its pullback on Monday, sliding toward the $4,000 mark per troy ounce after reaching levels north of $4,200 last week. It’s the precious metal’s third straight daily decline, dragged lower by another round of US Dollar strength and mixed US Treasury yields. Silver, meanwhile, managed to claw back some ground after its sharp recent drop, briefly pushing back above the $51.00 level per ounce.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD slumps below 1.1800 on hawkish Fed Minutes, eyes on ECB succession

The EUR/USD pair tumbles to a near two-week low around 1.1785 during the early Asian session on Thursday. The US Dollar strengthens against the Euro on hawkish FOMC minutes that revived speculation about potential interest rate hikes if inflation remains elevated.

GBP/USD extends decline as weak jobs data bolsters BoE rate cut bets

The Pound Sterling continued to backslide under sustained pressure on Wednesday, following through after the UK employment report on Tuesday showed a labour market deteriorating faster than expected.

Gold consolidates the rebound below $5,000, US data eyed

Gold price consolidates the previous rebound below $5,000 in the Asian session on Thursday. The precious metal recovered on Wednesday amid shifts in geopolitical sentiment, boosting safe-haven demand. Traders will keep an eye on the release of US Initial Jobless Claims, Pending Home Sales data, and the Fedspeak later on Thursday.

Bitcoin approaches a critical zone: Bear pennant projects $56,000

Based on the most recent analyses from February 2026, the short answer is that it is highly unlikely that Bitcoin will reach $100,000 this month.

Mixed UK inflation data no gamechanger for the Bank of England

Food inflation plunged in January, but service sector price pressure is proving stickier. We continue to expect Bank of England rate cuts in March and June. The latest UK inflation read is a mixed bag for the Bank of England, but we doubt it drastically changes the odds of a March rate cut.

Sui extends sideways action ahead of Grayscale’s GSUI ETF launch

Sui is extending its downtrend for the second consecutive day, trading at 0.95 at the time of writing on Wednesday. The Layer-1 token is down over 16% in February and approximately 34% from the start of the year, aligning with the overall bearish sentiment across the crypto market.