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EUR/USD loses momentum, approaches 1.1200

EUR/USD fades part of its recent multi-day recovery, slipping back toward the vicinity of the 1.1200 threshold on Thursday. The daily decline in spot comes amid steady caution in the FX universe and a modest recovery in the US Dollar, as traders continue to assess the US midterm election results and the severe decline in US stocks while gearing up for the upcoming US NFP.

GBP/USD struggles for direction near 1.3470

GBP/USD now trades without clear direction, hovering around 1.3470 on Thursday. Cable’s irresolute price action follows the marginal advance in the Greenback in a context of rising caution amid a sharp AI-related sell-off in US stocks. Around the UK, the BoE raised its policy rate by 25 bps to 4.00% earlier in the day.

Gold gives away gains; focus is back to $4,000

Gold now surrenders part of its initial bull run and breaks below the key $4,100 mark per troy ounce on Thursday. The yellow metal extends it recovery on the back of the mild advance in the Greenback and declining US Treasury yields following the US midterms elections.

The memory trade collapses as Sandisk sheds 17%, Micron sinks to May levels

If Wednesday's stock market rally was a broad vote of confidence in the Democratic sweep of the US midterm elections, Thursday is the other side of that coin. While the AI sell-off already began on Wednesday, it has kicked into higher gear on Thursday. The NASDAQ Composite has swung to a 4% loss in the morning regular session, while the S&P 500 and Dow Jones also shed Wednesday's gains.

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DEEPER DIVE

US Dollar breaks below 101.50 as Democrats sweep Congress

The US Dollar (USD) comes under heavy selling pressure on Wednesday, with the US Dollar Index (DXY) falling around 0.5% to trade near 101.35 after sliding below the 101.50 level. The Greenback retreats to its lowest level in four weeks as investors reassess the political and economic outlook following the Democratic Party's sweeping victory in the United States (US) midterm elections.

Gold is back at $4,000. Don't celebrate yet

Gold (XAU/USD) stages an impressive recovery on Wednesday, climbing around 3% to trade above $4,000 after the United States (US) midterm elections. The recovery offers some relief after months of selling pressure, but it does not necessarily signal the end of Gold's bearish trend.

The US Dollar's September buyers are now underwater

Speculators rebuilt a $45 billion bet on the US Dollar in the four weeks after the Federal Reserve's September hike, and the Dollar Index is back at the average price they paid. A Democratic Congress, cheaper Oil and falling yields now work against that crowd.

CRYPTOCURRENCIES

Binance revokes SignalPlus API keys over potential security threat

Binance, the largest cryptocurrency exchange, announced on Thursday that it revoked the Application Programming Interface (API) keys linked to SignalPlus, a third-party institution-grade technology firm.

XRP gains ground as Ripple CEO says US crypto users aren’t going anywhere after midterms, calls for clear rules

Ripple (XRP) ticks higher on Thursday, trading near $1.32. The remittance token is up roughly 10% from last week’s trough at $1.20, suggesting that the path of least resistance is gradually flipping upward.

Top Altcoins Price Forecast: Ripple, Cardano and Solana extend post-midterms rally

Top altcoins, including Ripple (XRP), Cardano (ADA), and Solana (SOL) are trading in the green on Thursday, extending a steady recovery so far this week, driven by the post-US midterms relief.

STOCKS

While stock market celebrates Dem sweep, the AI trade deteriorates

The US stock market is giddy on Wednesday as the Democratic Party's resounding success at the ballot box has translated into big stock index gains. A widespread belief that the heavy Democratic win, which is still being tabulated in many races, will usher in an end to President Donald Trump's tariffs and volatile trade policy has led the Dow Jones Industrial Average (DJIA) to surge 2.8%.

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: US President Donald Trump judgment day has come

The EUR/USD pair settled around 1.1160, down for the week and closing October with losses. The US Dollar (USD) advanced through the first half of the week but changed course after the Federal Reserve (Fed) monetary policy announcement, then fell further after the European Central Bank (ECB) reported the same decision. The Greenback regained some poise on Friday, as risk aversion took the lead.

European Central Bank faces 3-year-high inflation at 3.8%

The European Central Bank (ECB) faces a difficult monetary policy environment as Eurozone inflation reached 3.8% in September, its highest level in three years and almost twice the central bank's 2% target.

Gold: Bears dominate even as US yields push lower ahead of midterm election

Gold (XAU/USD) registered gains for the first three days of this week only to erase them in the second half and to drop to a fresh 2026-low below $3,900. Next week’s economic calendar will offer key macroeconomic data releases from the United States (US), which could trigger the next directional action in the precious metal.

Bitcoin: Binance security breach and hawkish Fed push BTC lower

Bitcoin (BTC) continues to weaken this week, down more than 3% and heading for its fourth straight weekly loss. The largest cryptocurrency by market capitalization is facing a bearish outlook, fueled by a hawkish Federal Reserve (Fed) outlook at the October meeting and a reported $6.3 billion hack at Binance, which is driving risk aversion and triggering heavy liquidations.

US Dollar: A hawkish Fed is no longer enough

The US Dollar (USD) managed to regain some composure, ending the week with acceptable gains after surrendering some ground following earlier two-week highs. Indeed, the US Dollar Index (DXY), at some point in the last few days, popped to as high as the 102.50 zone, just to lose some momentum soon afterwards despite keeping its weekly bullish mood well in place.

Week ahead – Central bank and earnings bonanza could roil markets

Fed, ECB and BoJ to sit on the sidelines after September hikes. But RBNZ and BoC poised to lift borrowing costs. Inflation data out of the US, Japan, Australia to also be important.

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]

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.

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