[GVI Forex 2]

Newsquawk Daily US Opening News

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[GVI Forex 2]

Up next: BOE rate decision

See detailed preview

[GVI Forex 2]

USDX (US DOLLAR INDEX)

• This is how you can use USDX to trade EURUSD
• This chart was posted yesterday with USDX around its high showing the 200 day mva just overhead.
• This gave an alert to watch for a potential bottom in EURUSD (which had a double bottom around 1.1468) and the rest is history.
• Note EUR is 57.6% of the USDX and the index is often used as a proxy for the EURUSD>

My thanks to JP for pointing out to me yesterday the 200 day mva.

USDX DAILY CHART

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[GVI Forex 2]

XAUUSD (GOLD) UPDATE

• Move above 4000 confirms shift in risk to the upside
• To build momentum rather than just a range , 4030-50 would need to be taken out
• Keeps a strong bid if 4000 becomes support, current momentum up while above 3982.

XAUUSD  1 HOUR CHART

[GVI Forex 2]

Forex Market Snapshot

The dollar is trading weaker today with a clue coming yesterday when it failed to benefit from stronger ISM PMI data and higher yields. All currency pairs so far trading inside days.

• EURUSD is back above 1.15, clearly the pivotal level
• USDJPY is back below 154 after yesterday’s sharp bounce off 152.95 paused below 154.50 (high 154.35)
• GBPUSD is up ahead of today’s BOE rate decision after holding off a run at 1.30 yesterday (low 1.3010)

[Mtl JP]

DLRX 99.916 at 4:02 AM EST

yes !

[Mtl JP]

and suddenly dlr is under downward pressure

[Mtl JP]

On Deck
–
07:00 GBP BoE Interest Rate Decision expected to remain flat at 4%

Britain, like France, is facing severe fiscal challenges: Britain’s deficit projected at 4.3% of GDP and debt nearing 95% of GDP
******
Reeves is preparing for a major tax increase in her November 26 budget

GBPUSD 130.64 as I type
market s betting on 130, some on it breaking down others on it holding.

[Mtl JP]

Bessent ‘very optimistic’ after Supreme Court talks testing legality of Trump tariffs – w/kudlow
“Trump’s Tough Day at Supreme Court Puts Tariffs in Jeopardy” – wsj

[GVI Forex 2]

For your blotter

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[GVI Forex 2]

In our blog

Understanding Forex Intervention: Lessons from Japan’s Approach to the Yen

With the USDJPY climbing to its highest level since February, traders are watching closely for signs of how Japan’s new government might respond.

Japan’s Finance Minister Satsuki Katayama recently delivered another strong verbal warning about currency movements, saying he remains “highly alert” to market fluctuations. His comments have fueled speculation that official intervention in the forex market could soon follow....

[Mtl JP]

Trading is about betting ON the FUTURE …
–
USDJPY 154.00 as I type
heading into asia session looking for YEN
trade idea(s)
TIA

[Mtl JP]

[GVI Forex 2]

Newsquawk US Market Wrap

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[GVI Forex 2]

Newsquawk US Market Wrap

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[GVI Forex 2]

US500 (SP500) UPDATE

• Down momentum broken but failure to hold above 6824 cools thoughts of a quick reversal and makes 6833 the new key level on top.
• In any case, momentum is still tilted up while above 6765.

US500 1 HOUR CHART

[GVI Forex 2]

NAS100 (NASDAQ) UPDATE

Trying to regain a bid but so far stymied by 25784, above it is needed to confirm a break of down momentum.

In any case, should find support as long as 25382 holds.

NAS100 1 HOUR CHART

[Belgrade Bobby]

Palantir Technologies Inc. Stocks – PLTR

Resistances: 190.35, 195.70 & 199.85

Supports: 181.20, 176.20 & 173.15

As long as Palantir holds above the channel line it will be able to reach for a new high.

However, return below 173.15 would negate it all and 142.35 would come to play once again.

[GVI Forex 2]

BTCUSD (BITCOIN) UPDATE

• As I noted, while the focus was on 100000, the 98000 level was key chart support.
• Pause above it and subsequent bounce would need to regain 105000 (rounding off) and hold above it to shift the risk to 105000-108000-110000.

BTCUSD 1 HOUR CHART

[Belgrade Bobby]

NIO Inc. Stocks

Uptrend holding firmly and current Pattern calls for another leg Up tomorrow.

Resistances: 7.40, 7.50 & 7.60

Supports: 7.20, 7.05 & 6.85

Target at 8.02

[Belgrade Bobby]

XRPUSD Daily

Supports: 2.1485, 2.0660 & 1.8860

Resistances: 2.3215, 2.3650 & 2.4285

To be able to change a current trend Ripple has to reach above 2.4285 first, but without clearing a barrier at 2.5540 it would all be futile.

[GVI Forex 2]

XAUUSD (GOLD) UPDATE

• Upward momentum trying to build (3 red lines) but to make it more than just a bounce, 4000 needs to break and then become support.

XAUUSD  1 HOUR CHART

[Mtl JP]

stock players are like excited poodle puppies wizzing at one’s pants

Jeff Cox:
“Tariffs face an uncertain future after Supreme Court hearing. Here are the potential market impacts”

… As for its impact on markets, it’s complicated. …. There’s little expectation that the justices will be in a hurry to issue a ruling, so any impacts are likely to be months away. …

[Mtl JP]

Rrriiight … “Traders on prediction markets see a 30% chance Supreme Court backs Trump’s tariffs” – cnbc

[GVI News]

Supteme Court skepticism said to be helppng boost stocks

[GVI News]

US Supreme Court heard arguments over legality of President Donald Trump’s tariffs

Trump invoked law meant for emergencies to impose the tariffs

Conservative justices’ questions suggest skepticism of Trump arguments

[GVI News]

US Supreme Court heard arguments over legality of President Donald Trump’s tariffs

Trump invoked law meant for emergencies to impose the tariffs

Conservative justices’ questions suggest skepticism of Trump arguments

[GVI Forex 2]

Supreme Court hearing on tariffs

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[GVI Forex 2]

US500 (SP500) UPDATE

• Down momentum broken with the move above 6790.
• Now needs to break 6824 and stay above it to restore a bid.

US500 1 HOUR CHART

[GVI Forex 2]

MARKET UPDATE

• US stocks up after early Far East sell-off did not follow through
• US bonds down (yields up)… ISM Services PMI beat, prices paid at 3 year high
• GOLD up from an earlier slide but consolidating in the upper part of 3900-4000
• Dollar generally firm. USDJPY back above 154 but below the key 154.50 line in the sand level…Offsets from weaker JPY crosses (e.g. AUDJPY) may be holding back USD elsewhere

[Author]

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