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EURGBP UPDATE
- I gave an alert to watch this cross for month end flows and you can see one that has weighed on the EURUSD.while giving support to GBPUSD
- See now if EURUSD can find a foor if EURGBP holds above .8787.. More sigificant support at 8778.
- Still about 1-1/2 hours to the 4PM London fix
EURGBP 30 MINUTE CHART
Newsquawk US Stock Specifics
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EURUSD UPDATE
- Trading to a near 3 month low with just 1.1527 standing in the way of 1.1500 (psychological) and 1.1390 (chart)
- Back above 1.1541-47-50 needed to slow the risk.
- Hard to draw conclusions from end of month trading but unless 1.1550+ is regained, EURUSD will be on the defensive.
- Selling pressure appears to be coming out of some crosses… EURJPY and EURGBP
EURUSD DAILY CHART
Thinking inside the Fed
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UBS inches toward historic move to leave Switzerland — as it’s wooed by Trump administration: sources
Swiss banking giant UBS continues to inch toward moving its headquarters to the US, a drastic and historic move that’s borne of outsize regulatory burdens in its home country – and aggressive wooing from the Trump administration, On The Money has learned.
The latest sign that Switzerland’s biggest bank is on the way out of its home of 162 years came Monday, when it applied for a US national bank charter. UBS has a strong wealth management unit here and could offer many more services through its brokerage arm. That, in turn, could expand UBS’ US footprint well beyond the nearly 6,000 advisers already here….
Newsquawk Daily US Equity Opening News
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US to attack sites in Venezuela?
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>NAS100 (NASDAQ) UPDATE
- NAS retracement got an after hours reprieve yesterday from Amazon and Apple earnings reports.
- Recent history has been that retracements have been followed by new NAS highs so watch to see whether the 26276 record high holds or not.
In the meantime, range is 25731-26276, tighter so far today at 26006-26169, suggesting 26000 will act like a pivot.
NAS100 1 HOUR CHART
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Newsquawk Daily US Opening News
XAUUSD (GOLD) UPDATE
- Bullish pattern off the 3886 low working out but pause below the magic 4050 level (also chart resistance) at 4046 has cooled the move and left 4000 as clearly pivotal in setting the tone.
- Range around it: 3955/60 – 4046/50
- 3989 needs to hold to prevent the bottom of the range being exposed
- Above 4046-50 would extend the bullish pattern
XAUUSD 1 HOUR CHART
Forex Market Snapshot
- The dollar is holding firm heading into month end with the commodity currencies (CAD, AUD, NZD) weaker and others consolidating after falling vs, the dollar yesterday.
- Keep an eye on EURGBP (currently bid) as it tends to be active at month end.
- One theme that has been emerging is central bank’s converging policies towards caution over cutting rates.
- Note US turns clocks back one hour over the weekend.
XRP Mirrors 2017 Bull Cycle, Analysts Eye $20 as Institutional Inflows Grow
The cryptocurrency XRP is once again drawing parallels to its explosive 2017 rally as analysts point to mounting institutional demand and bullish chart patterns. Trading in the $2.50–$2.70 range, XRP may be in the early stages of a new upward leg driven by ETFs, treasury-flows, and structural technical setups.
Institutional Flows & Treasury Vehicles Spark Bullish Outlook
XRP’s resurgence is supported by a sharp uptick in institutional interest. A recently launched XRP-exposure vehicle has already pulled in over $115 million in assets, while trading volumes in related futures markets have soared into the billions.
XRP Chart-Setup Resembles 2017 Bull Cycle, Targeting Double-Digits
Technically, XRP’s current structure has drawn comparisons to its 2017 run. Analysts tracking Elliott Wave counts suggest XRP may be in the early phase of Wave 3, a phase that historically triggers major price moves. Under one scenario, this could propel the token from its current $2.56 level into double-digit territory.
Support near the $2.50–$2.60 band remains intact, underpinning the bullish case. If XRP can break and hold above nearby resistance (circa $2.67–$2.70), momentum could accelerate.
Yen Set for Steep Monthly Drop
The Japanese yen hovered near nine-month lows around 154 per dollar on Friday and was on track for a sharp 4% monthly decline, pressured by the election of Prime Minister Sanae Takaichi, who favors expansionary fiscal measures and loose monetary policy.
The Bank of Japan also kept rates unchanged this month, with Governor Kazuo Ueda cautioning that global trade policies could slow growth and hurt corporate profits.
Meanwhile, new Finance Minister Satsuki Katayama clarified that she no longer stands by her March comments suggesting the yen’s fair value is around 120–130 per dollar, citing her current role overseeing currency policy.
Recent data also showed Tokyo’s core inflation rose more than expected in October, complicating the domestic policy outlook.
Externally, the yen weakened further as a stronger dollar gained support from reduced expectations of additional Federal Reserve rate cuts.
A must read in our blog ahead of Friday’s month end
Month-End FX Rebalancing Flows: What They Are and How to Trade Them
Timely and insightful article in our blog
The Path of Least Resistance: How to Identify Forex Trends Like a Flowing River
Apple reports: Shares slip
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Newsquawk US Market Wrap
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Newsquawk US Market Wrap
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NAS100 (NASDAQ) UPDATE
- The runaway train has finally lost some steam but only a test/break of the opening week gap to last Friday’s 25375 would suggest anything more than just a pause.
- Note Amazon earnings beat gave stocks a late day lift. Next up Apple earnings.
- Similar to US500, it’s month end and not a typical end to the week so watch the 26000 level as it will be pivotal in setting the tone.
NAS100 4 HOUR CHART
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