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DXY: The US dollar faces the risk of being sold off?Investors sold the dollar late last week at the fastest pace in a year, hoping for lower interest rates next year after the Federal Reserve ends its policy rate cut. significantly raise interest rates. State Street, one of the world's largest asset managers, said the asset manager was prepared to sell 1.6% of its dollar positions this month, the largest monthly outflow since last November. The company said. In particular, investors have enjoyed "significant" selling every day since the release of the US employment report on November 3rd. "The developments over the past two weeks suggest that demand for the dollar is undergoing a rapid reassessment," said Michael Metcalfe, head of macro strategy at State Street. He added that the recent sell-off in the dollar signals an end to the "extraordinary dollar glut." ``Investors are thinking, ``If interest rates are really cut, there is no need to hold so many dollars,'' the expert said. Experts predict that the sell-off by asset managers may be just the beginning of a long-term trend among investors to reduce their exposure to US assets, with the US dollar weakening in November. This was the worst monthly performance of the year. According to the Financial Times, a weaker U.S. dollar is beneficial for emerging countries because it helps them repay dollar-denominated loans and potentially draws investors back to developing countries. This comes after a huge sale of foreign currency-denominated bonds this year.
TVC:DXYShort
by Chart_MasterPro
USDJPY: Comments on USDJPY on November 14Yomiru: Japan plans to reduce taxes for businesses that increase wages A source from the Yomiuri website said that the Japanese Government is considering tax reductions for companies that increase wages by 8%. The Japanese government wants to encourage wage increases as part of its fight to promote sustained and stable inflation. If the wage increase is widely applied, it will create a premise for the BoJ's arguments around gradually reducing the level of monetary policy easing, thereby supporting JPY.
Long
by Chart_MasterPro
USDJPY: Today's (November 3) USD exchange rate: Following the...The US dollar kept falling during the most recent trading session as traders gambled that the US Federal Reserve (Fed) had finished tightening its monetary policy and decided to hold interest rates steady. As a result, the Fed resolved at its policy meeting in November to maintain current interest rates while assessing the financial landscape to gauge its capacity to contain inflation. Fed funds futures indicate that there is less than 20% likelihood that the Fed will raise interest rates in December, but investors continue to support the belief that US interest rates have peaked. Stocks have recovered as a result of that viewpoint increasing investors' risk appetite. The dollar weakened 0.3% versus the Japanese yen to 150.44, retreating from this week's one-year high
Long
by TrategySherpa
EURUSD: Euro slides after inflation data from Germany and SpainOnly a few days after the European Central Bank completed its longest interest rate bull run in 25 years last week by maintaining the key policy rate at 4%, the euro slipped 0.1% to 1.0554 as data indicated that inflation in the euro zone was declining. Germany's most populated state, North Rhine Westphalia, saw a 3.1% year-over-year increase in consumer prices in October, down from a 4.2% increase the previous month, according to data released early on Monday. In addition, the Spanish CPI increased by 3.5% annually, less than the 3.8% predicted, and by 0.3% in October, less than the 0.6% predicted.
Short
by TrategySherpa
USDCHF: The Federal Reserve meets this weekThe US dollar has recently strengthened on signs of US economic strength, even after a long period of interest rate hikes by the Federal Reserve. US consumer spending soared in September, while the US economy grew at its fastest pace in nearly two years in the third quarter. Fed policymakers will meet this week, with the central bank expected to leave interest rates unchanged when the decision is announced on Wednesday. However, traders are concerned that these strong numbers mean they portend higher interest rates for longer as they continue to worry about overheating inflation.
Long
by TrategySherpa
AUDUSD: AUDUSD is under pressure ahead of US and Australian dataThe Australian dollar is currently down to 0.6310, with the next key supports at 0.6300 and then 0.6285. For buyers, the key immediate resistance is the 14-day EMA at 0.6347, with resistance at 0.6400 and 0.6429, the 23.6% Fibo level of the decline from July peak to September low. This week, markets will continue to wait for a series of PMI reports from both countries. Additionally, the governors of both central banks are also scheduled to speak this week, as well as the release of Australian CPI, US PCE inflation, and the University of Michigan Consumer Confidence Index.
Short
by Chart_MasterPro
BTCUSD:; Bitcoin forecast next week: Approaching the $30,000 marSince the beginning of October 2023, Bitcoin price has increased 8.3% and is approaching the psychological barrier at the 30,000 USD mark. Finance BankingBitcoin forecast next week: Approaching the 30,000 USD markDuong Lam • {Publishing date}Since the beginning of October 2023, Bitcoin price has increased by 8.3% and is approaching the psychological barrier at the 30,000 USD mark. According to CoinDesk data, updated on the morning of October 22 (Vietnam time), Bitcoin price traded at 29,880.3 USD/BTC, corresponding to a capitalization of 583.2 billion USD. Compared to early October, this cryptocurrency has increased by 8.3%. “Bitcoin's bullish momentum is supported by positive news about the possibility of approval of an exchange-traded fund (ETF) for this cryptocurrency next week, along with an increase in applications to open a fund Bitcoin ETF,” said Lucy Hu - senior trader at Metalpha.
BINANCE:BTCUSDLong
by Chart_MasterPro