XAUUSD seems poised to challenge 200-day SMA, around the $1,800 mark, FXStreet’s Haresh Menghani reports. XAUUSD seems poised to challenge 200-day SMA, around the $1,800 mark, FXStreet’s Haresh Menghani reports… UK’s Claimant Count Change increased to 3.3K versus -12.6K forecasts and 25.5K prior whereas the Unemployment Rate rose to 3.6% while surpassing the market consensus and prior readings of 3.5%. Further details of the jobs report revealed https://www.forextime.com/education/forex-trading-for-beginners that the Claimant Count Rate remained unchanged at 3.9% in October. Additionally, wage inflation, as measured by the Average Earnings Excluding Bonus, rose to 5.7% from 5.5%, compared to analysts’ estimate of 5.6%. The UK’s official jobless rate edged higher to 3.6% in September from 3.5% in August, the UK’s Office for National Statistics announced on Tuesday. This reading came in slightly worse than the market expectation of 3.5%.
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EUR/USD Hits Reverse in Response to ECB Consumer Expectations Survey
This, along with a generally positive tone around the equity markets, is seen as another factor weighing on the safe-haven buck and exerting some downward pressure on the USDCAD pair. The DotBig company US Dollar comes under some renewed selling pressure and drops to its lowest level since mid-August, which, in turn, is seen as a key factor acting as a tailwind for the AUDUSD pair.
The British pound has reversed directions on Tuesday and posted sharp gains. However, the ECB Consumer Expectations Survey and analysis pressured the EUR early. The return to 7% may be brief, however, following the US CPI report for October.
OPEC Cuts Demand Growth Forecast
A combination of data including GDP, inflation and a sentiment report from the US and Europe puts EUR/USD into focus for today’s session. Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international https://blackchristiannews.com/2022/02/full-review-of-dotbig-ltd-forex-broker-with-basic-information-about-trading-instruments/ news to professionals via desktop terminals, the world’s media organizations, industry events and directly to consumers. Founder of bankrupt cryptocurrency exchange FTX, Sam Bankman-Fried, is seeking commitments from investors to raise fresh cash, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
- He said that those who have more will be asked to provide more and that “inflation-busting pay awards would just fuel inflation,” suggesting that the new Tory government would be fiscally responsible.
- Even so, the DXY buyers remain hopeful as the latest commentary from the US Federal Reserve officials renews inflation fears.
- Overall, EURUSD remains on the bear’s radar despite the latest inaction.
- The board agreed that acting consistently would support confidence in the monetary policy framework among financial market participants and the community more broadly.
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- Other data revealed that the euro area trade deficit narrowed to €34.4 billion in September from €52.4 billion.
Given the RSI’s retreat from the overbought territory, as well as the pair’s U-turn from an important resistance comprising multiple levels marked since May, around 1.0370, the EURUSD bears are likely to keep the reins. Forex news That said, a likely easing in the Claimant Count Change may help GBPUSD to extend the latest rebound but a negative surprise, which is more expected, will also justify the US dollar’s rebound to convince the bears.