EUR/USD drops below 1.1150 on persistent USD strength
EUR/USD remains under bearish pressure following Tuesday's decline and trades below 1.1150 in the second half of the day on Wednesday. The pair stays on the back foot as the US Dollar sustains its overnight strength while markets consider the possibility of a large Federal Reserve interest rate hike at the December policy meeting, led by hot United States Consumer Price Index data for October and hawkish remarks from policymakers.
GBP/USD drops to fresh November low near 1.3300
GBP/USD continues to stretch lower on Wednesday and closes in on 1.3300 after closing deep in negative territory on Tuesday. The broad-based US Dollar (USD) strength following the hot October inflation data from the US and hawkish comments from Fed oficials make it difficult for the pair to find its footing.
Gold sticks to gains near $4,050 amid steeper Fed rate hike bets
Gold clings to recovery gains near $4,050 in the European session on Wednesday. However, upside seems limited amid sustained US Dollar demand. Tuesday's hot US inflation figures fuel expectations of a more aggressive policy tightening by the US Federal Reserve (Fed). This helps the Greenback preserve recent strong gains, despite hopes for US-Iran diplomacy.
Bitcoin at risk of sharp moves as leverage builds in derivatives markets
Bitcoin remains in a capped tone, trading around $73,800 after slipping to a low of $72,727 following the previous day’s hot US inflation figures. Institutional demand continues to weaken, with BTC spot Exchange Traded Funds recording a $95 million outflow on Tuesday, marking the fourth straight day of withdrawals. Traders should be cautious as a K33 Research report highlights that BTC is at risk of sharp moves as leverage builds in derivatives markets.
DEEPER DIVE
What the US CPI headline doesn’t tell you about inflation
Brent crude has fallen about a third since mid-October on hopes the Iran war is ending, but diesel, freight and fertiliser costs haven't followed. Those costs reach US consumer prices in stages through 2027 and could keep inflation high after gasoline gets cheaper.
Democrats win House and Senate in US midterms: Why isn’t all bad news for crypto
The biggest story this week was Tuesday’s US midterm elections, which saw Democrats win control of both the House and the Senate in a clear blue wave.
The Australian Dollar is at make-or-break near 0.6900
CRYPTOCURRENCIES
Pi Network Price Forecast: PI extends gains against a bearish market backdrop
Pi Network continues to attract some buyers on Wednesday after an over 8% rebound the previous day. PI token sustains above $0.070 as the price extends its rebound after reaching an oversold level, decoupling from the broader market correction. Technically, Pi Network must break above the overhead trendline near $0.0740 to resume an upward trend.
Dogecoin Price Forecast: DOGE slips to a new yearly low
Dogecoin recovers mildly, trading around $0.068 on Wednesday after hitting a new yearly low the previous day. Santiment data shows whale wallets offloading DOGE holdings, fueling near-term selling pressure. Meanwhile, weakening on-chain metrics and bearish technical indicators suggest that the meme coin could face further downside risks.
Zcash Price Forecast: ZEC tests $1,000 support as hot US CPI data offsets Grayscale’s marketing
Zcash is down to almost $1,000 on Wednesday, facing intense selling pressure over the last five days, with losses totaling over 20%. The hotter-than-expected US monthly inflation data offset the Grayscale’s Zcash-focused marketing campaign and the sponsor fees contribution to the network.
STOCKS
Elliott Wave view: Nvidia selling off in a clear impulsive structure
Nasdaq 100 rebound looks strong… or is it just a trap?
The Nasdaq 100 spent the past few sessions recovering strongly from its November lows, rebounding from 24,307 and climbing back into the 25,100–25,150 mid-range zone. While the candles look convincing, the broader picture reveals a different story: the index remains trapped inside a 4H range structure.
WEEKLY FORECAST
EUR/USD: Greenback holds firm despite looming US political stalemate
Canadian Dollar stares at 114.7K lost jobs and a Fed rate hike
Gold: Post-midterm elections relief rally loses momentum
Bitcoin: Bears tighten grip as BTC eyes fifth weekly loss
US Dollar: The Dollar survives the midterms; now comes inflation
Week ahead – Inflation and geopolitics in focus as US political landscape shifts
Post-midterm election euphoria fizzles out as risk aversion prevails. US CPI, PPI and Fedspeak on the radar as Fed hike bets remain supported. Oil retreat pauses on mixed hopes about the ongoing conflicts.
EDUCATION
How economic uncertainty changes bullion buying patterns across generations
When the economy becomes uncertain, investors react differently depending on their goals and circumstances. But, generally, periods of high inflation, market volatility, or geopolitical tension push investors to look beyond traditional assets for ways to diversify and manage uncertainty.
![You’re watching pre-market levels wrong [Video]](https://editorial.fxsstatic.com/images/i/Fear-2_Medium.png)
You’re watching pre-market levels wrong [Video]
If you trade NQ, you’ve probably been told to watch the pre-market high and pre-market low. That part is easy. The harder question is: what are you actually supposed to do when price gets there? Most traders react too quickly, and that’s usually where the trouble starts.
PRESS RELEASES
Maharashtra Minister Ashish Shelar addresses Unchained Summit India on digital innovation and asset tokenisation
Maharashtra’s Minister of Electronics, IT, AI & Cultural Affairs, Ashish Shelar addressed industry leaders at Unchained Summit India, held in Mumbai on 5–6 November, speaking about the role of emerging technologies in India's digital future, the importance of stronger legal frameworks, consumer protection and accountability, and the need to ensure that innovation delivers practical economic value.
Versus Trade marks 11.11 Sale Day with special bonuses for traders
Forex and CFD broker Versus Trade is celebrating 11.11 Sale Day with a limited-time campaign offering eligible traders access to special bonuses and promotional rewards.
Dollar volatility spikes as Middle East tensions meet US election results
Geopolitical developments in the Middle East and conflicting messages from Washington shape current valuations of the US dollar and the euro. Financial markets react to uncertainties surrounding peace negotiations and political shifts in the United States.