EUR/USD hovers around 1.1200 as investors await fresh clues
EUR/USD trades in positive territory above 1.1200 on Monday. The US Dollar (USD) struggles to benefit from the better-than-expected October Manufacturing PMI data and remains on the back foot as market cling to a risk-positive stance, allowing the pair to hold its ground. The focus now turns to US mid-term elections and employment related data scheduled for later this week.
GBP/USD holds above 1.3400 after reaching a fresh two-month high
GBP/USD started the week on a bullish note and climbed to its highest level since mid-September above 1.3400 on Monday. The US Dollar (USD) remains under bearish pressure amid a positive shift seen in risk mood and helps the pair keep its footing. On Tuesday, midterm elections will be held in the US. Later in the week, the Bank of England will announce its monetary policy decisions.
Gold recovers on positive US-Iran headlines
Gold extends its recovery during American trading hours on Monday, supported by falling Oil prices following positive headlines on US-Iran talks. The metal regains ground after hitting a fresh yearly low of $3,870 on Friday and ending October down 6.87%. However, the rebound lacks conviction as the fundamental backdrop continues to raise doubts over a sustained recovery.
Bitcoin braces for US midterm elections as historical sell-offs revive downside concerns
DEEPER DIVE
The 2% inflation target came from a throwaway remark. It now moves trillions
Warsh is cutting the Fed's rate meetings. Fewer decisions, bigger moves
The Fed can't fix this inflation. It's a mechanical weight, not a demand problem
CRYPTOCURRENCIES
Bitcoin braces for US midterm elections as historical sell-offs revive downside concerns
Bitcoin (BTC) braces for the impact of the US midterm elections, just a week after the $6 billion hack from Binance. Historically, congressional elections have negatively affected not just the president’s party but also Bitcoin.
Bitcoin slips below $78,000 amid ETF outflows
Bitcoin (BTC) slips below $78,000 at the time of writing on Monday after posting its fourth straight weekly loss. Institutional demand shows signs of weakening, with spot Exchange Traded Funds (ETFs) recording outflows of over $202 million last week.
Crypto Today: Bitcoin, Ethereum and XRP consolidate amid weak market sentiment
Bitcoin hovers above $78,000, building on the 100-day EMA support as market sentiment remains weak. Ethereum shows signs of recovery near $2,300, though upside remains technically capped.
STOCKS
NASDAQ 100 not yet in correction, but it's getting close
The NASDAQ 100 topples 3% on Friday on a wave of AI stock selling stemming from the disastrous Amazon (AMZN) and Intel (INTC) earnings reports released late Thursday. Coming off the previous session's Alphabet (GOOGL) earnings-induced slide and a horrid October, growth investors might be surprised to know that the NDX isn't yet in a correction.
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
European Central Bank faces 3-year-high inflation at 3.8%
Gold: Bears dominate even as US yields push lower ahead of midterm election
Bitcoin: Binance security breach and hawkish Fed push BTC lower
US Dollar: A hawkish Fed is no longer enough
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]](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
FP Trading Launches Mobile App Bringing TradingView-Powered FP Trader to iOS and Android
FP Trading has introduced a mobile app designed to make trading easier to reach and easier to manage.
Introducing the TradingPRO Learning Hub: Learn trading step by step
Every trader starts somewhere. For some, it is a first look at a price chart and a long list of unfamiliar terms. For others, it is years of experience and a wish to tighten up a few habits. Whatever your starting point, good education is what separates guessing from making informed decisions.
Velaris Markets prop challenges start at $29 for a $2,500 simulated account
Each service has its own terms; the prop service uses demo accounts and is not a brokerage service.