Market Insights Podcast (12/11/2025): Join TraderNick and host Jonny Hart as they discuss a likely end to the upcoming government shutdown, rising probability of a BoE rate cut, and a fall in crude pricing. Join Nick Syiek (TraderNick) and podcast host Jonny Hart as they review the latest market news and moves. MarketPulse provides up-to-the-minute analysis on forex, commodities and indices from around the world. MarketPulse is an award-winning news site that delivers round-the-clock commentary on a wide range of asset classes, as well as in-depth insights into the major economic trends and events that impact the markets. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Asia Market Wrap - Asian Stocks Advance, Nikkei Up 0.43% Most Read: Large rotation from tech as ADP employment scares again – Market wrap for the North American session - November 11Asian stock markets and government bonds both moved higher after new employment data suggested the US job market is cooling down. This soft data increased expectations that the Federal Reserve will cut interest rates soon, causing the 10-year Treasury yield to drop and traders to now price in a roughly 70% chance of a rate cut next month.The prolonged government shutdown forced investors to rely heavily on private reports, like the one from ADP, because official job and inflation data were unavailable. News that the shutdown could end as early as Wednesday boosted investor optimism, but traders are now preparing for a flood of delayed official economic data once federal agencies reopen.According to the private ADP report, while US companies cut an average of 11,250 jobs per week in the last four weeks of October, the full monthly report still showed that private-sector payrolls grew by 42,000 in October, following two months of job losses.The MSCI Asia Pacific Index rose 0.4%, with technology stocks recovering from early losses. In Japan, the Nikkei index rose 0.43%, and the broader Topix index closed at a record high, boosted by Sony Group jumping 3.67% after raising its annual profit forecast by 8%.However, SoftBank Group ended 3.46% lower after revealing it sold a $5.8 billion stake in Nvidia, which also contributed to a decline in other chip-related shares. Conversely, bank stocks performed well, with financial groups like Mitsubishi and Sumitomo Mitsui seeing strong gains.European Session - European Stocks Print Fresh Highs European stock markets rose on Wednesday, continuing their gains from the previous two days and reaching new record highs, with both the STOXX 50 and STOXX 600 indexes up.Investor optimism was boosted by the high likelihood of the US government reopening soon and increasing expectations that the Federal Reserve will cut interest rates again.Several companies provided good news: Infineon Technologies jumped 2.2% after predicting its revenue would start growing again next year; RWE added 3.5% after reporting better-than-expected profits; and Bayer rose 1.7% after its profit beat forecasts.Luxury giant LVMH and bank Intesa Sanpaolo also saw their stocks hit recent or all-time high prices. The only notable drop was E.ON, which lost 1.5% despite confirming its profit forecast for the year.On the FX front, the Japanese yen fell to a nine-month low against the U.S. Dollar on Wednesday, hitting 154.82 per dollar, which prompted Japanese officials, including Finance Minister Satsuki Katayama, to try and stop the drop with verbal warnings.The yen has fallen sharply since early October, largely because the market expects the new Prime Minister, Sanae Takaichi, to increase government spending.The US Dollar recovered slightly from its previous losses, rising 0.1% against other currencies.Meanwhile, the British pound and the euro both dropped slightly, while the Australian dollar rose 0.2% and the New Zealand dollar was mostly flat.Currency Power Balance zoom_out_map Source: OANDA Labs The price of oil fell by nearly 1% on Wednesday due to too much oil being available in the market, though the anticipated end of the longest-ever US government shutdown helped curb losses by promising a future boost in oil demand. Both Brent crude and US West Texas Intermediate dropped about 1%.Meanwhile, the International Energy Agency (IEA) released a new major forecast predicting that global oil and gas demand could continue to grow until 2050. This is a significant shift from the IEA's previous prediction that demand would peak this decade, as the agency has changed its forecasting method to look only at current government policies instead of climate promises. Investors are now also waiting for similar outlook reports from OPEC and the US Energy Information Administration, which are due out today.Gold prices were steady on Wednesday as investors waited for the US House of Representatives to vote on a deal to reopen the government. If the deal passes, it would provide two things the market needs: clear official economic reports (which have been delayed) and a better idea of how the Federal Reserve will decide on future interest rate cuts.Spot gold remained stable, while US gold futures for December delivery saw a small rise of 0.5%.Read More:WTI Oil Up 1.7% as Markets Grapple with Geopolitical Shocks and Structural Supply GlutGold (XAU/USD) Price Forecast: Bullish Breakout Gathers Pace as Fed Pivot Expectations Firm, $4250/oz Incoming?Economic Calendar and Final Thoughts The European session will be quiet with an OPEC monthly report the highlight. There are also a host of Central Bank speakers from the ECB, BoE and the Federal Reserve.The main focus for markets is the US House of Representatives, which is expected to pass the compromise bill to reopen the government until January 30th. If approved, the government could reopen as early as Friday, allowing the release of the important September NFP jobs report (which might be negative for the US Dollar) early next week.Before then, New York Fed President John Williams will give a speech today. While he is generally seen as favoring lower interest rates, his speech is unlikely to change the current market expectation, which prices a 66% probability of a 0.25% Fed interest rate cut in December. zoom_out_map For all market-moving economic releases and events, see the MarketPulse Economic Calendar. (click to enlarge) Chart of the Day - FTSE 100 Index From a technical standpoint, the FTSE 100 has broken out of the wedge pattern which has been in play of late.The breakout sets the index up for a potential 220-odd point rally to the upside.A retest of the wedge cannot be ruled out and may present a better risk-to-reward opportunity. The recent four-hour candle close which is a shooting star candle does hint at further downside.Immediate support rests at 9863 and 9840 before the 9800 handle comes onto focus.FTSE 100 Index Daily Chart, November 12. 2025 zoom_out_map Source: TradingView.com (click to enlarge) Follow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Log in to today's North American session Market wrap for November 7US stocks endured another rollercoaster session as panic gripped markets early in the day, triggered by a sharp drop in the University of Michigan’s Consumer Confidence index. Consumer Pessimism and Job Cuts Increase Uncertainty About Economic Outlook in USThe weak sentiment data pushed the Nasdaq down nearly 5% for the week, extending the streak of volatility.Still, the poor figures also revived dovish expectations, especially following Thursday’s grim Challenger layoff report, sparking a late-session rebound that lifted major indices back near unchanged by the close.The improving tone coincides with growing optimism around the US government shutdown negotiations, as pressure mounts on Democrats to strike a deal.However, things will not be simple once again as the latest deal just got rejected. Read More:Markets Weekly Outlook – Traders get impatient for the US shutdown to endCanadian employment shoots higher – CAD takes the leadCross-Assets Daily Performance zoom_out_map Cross-Asset Daily Performance, November 7, 2025 – Source: TradingView A picture of today's performance for major currencies zoom_out_map Currency Performance, November 7 – Source: OANDA Labs The Canadian Dollar took a breather after the consecutive beats in the labor data.On the other side of the spectrum however, the NZD (which has been struggling a lot) got hurt.The JPY gave back its weekly advance with the better tone throughout the end of the session.A look at Economic data releasing throughout the weekend and Monday's session zoom_out_map For all market-moving economic releases and events, see the MarketPulse Economic Calendar. Participants will learn more on Chinese inflation throughout the weekend with their own Consumer and Producer price indices releasing Saturday.Monday shouldn't be too busy in terms of news release throughout the US session, but will get a few early morning releases in Europe.The most important will however be the evening session with key data releasing for the AUD and NZD (Australian Consumer confidence at 19:30 ET and the RBNZ Inflation expectations).Safe Trades!Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Amid the absence of key US labor data during the longest US government shutdown in history (which has undoubtedly started to weigh on market sentiment, look at stocks this week!), the northern neighbor Canada was still able to deliver a surprise to traders.The Canadian labor market delivered a second consecutive beat in employment growth, reporting an actual gain of 66.6K jobs (exp -2.5K).This unexpected surge provides a much-needed lift.: while Canada has been struggling with tariffs biting into some of its key sectors, notably metals and lumber, this comeback in employment marks some slow but tangible regaining of confidence from businesses after what was a rough summer.However, a closer look reveals that most of these jobs added have been part-time positions.While this headline beat provided an immediate and strong boost to the Canadian Dollar (CAD), the key question remains whether the market can hold today's current strength without a corresponding increase in full-time employment. zoom_out_map The Canadian Dollar takes the lead on the FX space – November 7, 2025 – Source: Finviz This is at least a more positive report which may just be the light at the end of the tunnel for the land of Maple Syrup.You can access today's report here.Let's now take a look at multi-timeframe charts for USD/CAD to see where this fundamental surprise could take the pair.USD/CAD multi-timeframe technical analysisDaily Chart zoom_out_map USD/CAD Daily Chart, November 7, 2025 – Source: TradingView Today's candle marks the first red candle in the North American pair in 7 sessions. Some slowing down in buying had brought a double-top RSI divergence which is now seeing some consequences.The Canadian Dollar has been bleeding for a while with the latest turmoil in US-Canada trade talks – For now, price action remains above the Daily pivot region (1.40 to 1.4050).4H Chart and levels zoom_out_map USD/CAD 4H Chart, November 7, 2025 – Source: TradingView Levels to place on your USD/CAD charts:Resistance LevelsApril 2025 Pivotal Resistance 1.41 - 1.4150Nov 5 weekly and multi-month highs 1.4140Key resistance 1.4250Support Levels1.40 to 1.4050 Key Pivot (4H MA 50)Major Daily Pivot 1.39 (+/- 200 pips)1.38 Major support +/- 150 pips1.3550 Main 2025 Support1H Chart zoom_out_map USD/CAD 1H Chart, November 7, 2025 – Source: TradingView Looking even closer, the divergence happened on all timeframes which magnified this morning's 600 pip move in the pair.Oversold RSI on the short timeframe prompts small mean-reversion, but as markets head into the weekly close, check if buyers manage to close the week above 1.41.Failing to do so adds more probabilities of a short-term reversal within the upward channel (upper bound recently tested)While the market awaits more developments on trade deals, the main aspects to watch for USD/CAD are:Is confidence coming back for Canadian businesses? Look at upcoming Canadian PMI data and retails sales; Stronger data there could support CAD strengthIs the US Dollar still on its run higher or has it found a local top?The usual rate differential: A more hawkish Fed boosted the US Dollar. Look out for Federal Reserve speechesSafe Trades!Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Asia Market Wrap - Asian Shares Ending a Shaky Week with Losses Most Read: Has the Market turned on the AI boom? – Market wrap for the North American session - November 6Asian stocks dropped today (Friday), ending a shaky week where traders were torn between excitement over new technology and rising worries that the value of Artificial Intelligence (AI) companies is too high.The overall MSCI Asia Pacific stock index fell significantly, heading for its worst weekly performance since early August. In Japan, companies connected to chips and technology, like SoftBank, were the biggest losers. Japan's Nikkei fell 1.2% to head for a weekly loss of 4.1%, the largest since April.This decline followed a poor night on Wall Street, where big AI stocks like Nvidia tumbled and a key measure of market fear (the VIX) jumped. Globally, the stock market is set to end a four-week winning streak.Investors who previously drove the market rally, expecting both Federal Reserve rate cuts and AI-driven growth, are now questioning whether the massive spending on AI computers will actually lead to enough profit. Several top Wall Street figures have recently warned that the entire stock market gain is relying on just a few large technology companies.China Import Growth at 5-Month Low, Exports at 8-Month Low China's exports surprisingly dropped by 1.1% in October 2025, falling to an eight-month low of $305.4 billion. This was a reversal after a big jump in September and was much worse than the 3% growth expected.This was the first decline in exports since February, mainly because overseas orders slowed down after many buyers placed orders early to avoid new US tariffs. Buyers were also cautious due to the very uncertain trade relationship between the US and China that month. The drop was also made worse by the Golden Week holiday, which meant fewer work days, and high export figures from the same time last year.Exports to key countries like Japan (-5.7%) and South Korea (-13.1%) fell, and shipments to the US plunged by a massive 25.2%, marking the seventh straight month of double-digit declines there. Despite the poor October, China's total exports for the year-to-date are still up 5.3%, showing solid growth to the EU, ASEAN countries, and Japan, even though exports to the US are down 17.8% over that same period.European Session - European Shares Higher, ITV Jumps 18% European stocks saw a small rise today, providing a stable close to a week that was otherwise troubled by worries about high prices for technology stocks worldwide.The main European stock index, the STOXX 600, was up 0.2% but is still on track for its biggest two-week loss since early September. Analysts believe this week's drop was due to several issues, including the high cost of tech stocks, the U.S. government shutdown, and tough talk from the Federal Reserve about interest rates.In company news, ITV's stock jumped over 18% after it confirmed talks to sell its broadcasting division to Sky (owned by Comcast) for about £1.6 billion. This news helped boost the overall media sector.Conversely, Rightmove lost 24% after the property website predicted slower profit growth for 2026, as it plans major long-term investments, mostly in Artificial Intelligence. Finally, Italian bank Monte dei Paschi di Siena gained 4.5% after reporting a surprisingly good third-quarter profit.On the FX front, the US dollar is set to end the week slightly higher, as investors try to weigh the Federal Reserve's aggressive interest rate stance against ongoing worries about the US economy.The dollar index, which tracks the dollar's value against several other currencies, rose a small amount to 99.81 and has gained slightly over the week. Despite this recovery, the dollar is stuck in the same narrow trading range it has been in since August.Looking at other currencies:The euro fell slightly to 1.1535 against the dollar but performed better than the British pound and Swiss franc.The dollar rose against the Japanese yen to 153.41, after earlier hitting its lowest level since October 30th.The Australian dollar stayed flat, while the New Zealand dollar (kiwi) fell slightly.Currency Power Balance zoom_out_map Source: OANDA Labs Oil prices increased slightly on Friday, but they are still expected to post their second straight weekly loss. This is because prices fell sharply over the previous three days due to concerns that there is too much oil supply available and that demand in the US is slowing down.Brent crude oil rose 1% to 63.98 a barrel, and US West Texas Intermediate crude was also up 1% at 60.04.Gold prices increased today because of two main factors: people are more hopeful the Federal Reserve will cut interest rates in the future, and there are continuing worries about the US economy, which is being hurt by the long government shutdown.These factors boost demand for gold as a safe investment. The price of spot gold (XAU) was up 0.8% to 4,010.72/oz, with December gold futures showing a similar gain, up 0.7% to 4,019.50/oz.For more on Gold prices, read Gold (XAU/USD) Price Slips 1.5% as $4000/oz Handle Remains Elusive. What Comes Next?Economic Calendar and Final Thoughts The dollar had an up-and-down week. It started strong but eased off yesterday after some reports suggested that US job growth might be slowing. However, because the US government shutdown is still happening, we don't have the full, clear picture of the job market yet.For now, expect the dollar to trade sideways, with investors focusing on other major news, such as the weak trade data from China and the upcoming jobs report from Canada. zoom_out_map For all market-moving economic releases and events, see the MarketPulse Economic Calendar. (click to enlarge) Chart of the Day - FTSE 100 Index From a technical standpoint, the FTSE 100 has broken below the ascending trendline hinting at a deeper correction.Fundamentals do however remain positive for equities and this makes any potential trade an interesting proposition.Looking at the period-14 RSI and it remains above the 50-mark which is a sign of bullish momentum.If the 50 neutral level on the RSI holds, this could set the tone for further upside.FTSE 100 Index Daily Chart, November 7. 2025 zoom_out_map Source: TradingView.com (click to enlarge) Follow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Most Read: US Dollar (DXY) Jumps Past 100.00: Fed Rate Cut Bets Fall & Strong US Data. Will this Continue Throughout Q4?The Bank of England's committee decided to keep their main interest rate (Bank Rate) at 4%, which is what most people expected. However, the vote was close (5 members for keeping it, 4 members wanted to cut it by a small amount), showing that more people on the committee are leaning towards lowering rates. zoom_out_map For all market-moving economic releases and events, see the MarketPulse Economic Calendar. (click to enlarge) They believe that the worst of inflation is over and prices are starting to slow down. This slowdown is due to their current high rates, slower wage increases, and weaker price growth in services. They also noted that a slow economy and a less tight job market are helping to push inflation down.The committee now thinks the risks of missing their 2% inflation target are more balanced; they are less worried about high inflation sticking around and more worried about the economy being too weak. Still, they emphasized they need to see more proof that this trend will continue.Future rate cuts will happen gradually and will depend entirely on the new economic data that comes in.UK Inflation is Looking Better Optimism that the Bank of England (BoE) might cut interest rates this year is rising, causing UK 10-year bond yields to drop significantly since mid-October. Just a month ago, the market doubted the BoE would cut rates again soon. Now, the view is changing because inflation, currently at 3.8%, appears to have peaked.Even though the full drop won't happen until next year, encouraging signs are appearing: food price inflation is easing more quickly than expected, and service sector inflation is slowing down. This is being helped by private sector wage growth also falling, which is on track to end the year below 4% after starting much higher.This confidence is also boosted by expectations that the upcoming Autumn Budget will be viewed positively by the financial markets.UK Chancellor Rachel Reeves welcomed today's BoE cut to inflation forecast.According to the BoE “Progress on disinflation indicates bank rate likely to continue a gradual downward path: "gradual and careful approach" to further withdrawal of monetary policy restraint”.On the subject of inflation, Governor Bailey stated “It is encouraging that the inflation peak in September was 0.2 percentage points below our August forecast”. All in all signs appear positive on the Inflation front.There is another inflation print due out on November 19, which could have a major impact on pricing of a BoE rate cut in December, before attention turns to Chancellor Rachel Reeves’ budget.UK Autumn Budget Now in Focus The UK budget will become the main area of focus as the month progresses. Fiscal sustainability remains key and will likely determine the impact the budget speech has on the GBP.If Chancellor Reeves adopts more fiscal tightening the implications could lead to further weakness for the GBP. A budget which delivers tax hikes but pushes up 2026 inflation could potentially boost the GBP while a budget that under-delivers on fiscal sustainability could prompt a severe sell-off in the GBP.Chancellor Reeves really has an unenviable task ahead of her with markets paying close attention.Market Reaction to the BoE Hold Markets saw the GBP weaken in the aftermath of today's rate decision with a 30-40 pip selloff in GBP/USD.However, cable has since reversed this and pushed higher to trade around the 1.3100 handle at the time of writing.A break above the 1.3100 handle and four-hour candle close could embolden bulls and push GBPUSD toward the 1.3250 handle and the 100-day MA which rests around the 1.3270.If cable fails to find acceptance above 1.3100 handle, a retest of the crucial 1.3000 level may be in the offing.GBP/USD Four-Hour Chart, November 6, 2025 zoom_out_map Source: TradingView.com Follow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Log in to today's North American session Market wrap for November 5.The US government shutdown officially became the longest in history today — 36 days and counting — yet markets found some relief in stronger-than-expected private data amid the lack of public releases.The ISM Services PMI hit its highest level since February, and ADP employment came in at 42K vs. 25K expected, underscoring the economy’s resilience despite the political gridlock.Services PMI and ADP beats fuel US stock market return Read More:North American mid-week Market update – Some reversal in 2025 flowsDollar rallies on ADP jobs beat, the 'Goldilocks' era and AI stock sell-offUS Dollar (DXY) Jumps Past 100.00: Fed Rate Cut Bets Fall & Strong US Data. Will this Continue Throughout Q4? Equities staged a solid rebound after a rough weekly open, but sellers re-emerged late in the session, capping gains and reminding traders that volatility is here to stay.Adding to the uncertainty, Trump’s tariffs are now being reviewed by the Supreme Court, injecting another layer of tension into an already fragile market mood.With the December Fed rate cut still about 60% priced in despite Powell's recent hawkish return, elevated volatility looks set to persist.Cross-Assets Daily Performance zoom_out_map Cross-Asset Daily Performance, November 5, 2025 – Source: TradingView Today's flows got right back to the 2025 regular flows: Risk-assets rallying among gold (Cryptos largely overperformed) and the losing combo being US Treasuries and Oil.Despite the better US-China relations and very decent numbers, oversupply from OPEC+ and Russia keep on dragging oil prices lower after every rebound.A picture of today's performance for major currencies zoom_out_map Currency Performance, November 5 – Source: OANDA Labs Today's trading saw low amplitude in Forex movement. Nonetheless, the US stopped its multi-week ascent (which didn't leave much space for other majors).The Japanese yen continues to underperform since PM's Takaichi got appointed, with USD/JPY trading in the 154.00 handle, up 4.56% since beginning October.A look at Economic data releasing through tonight and tomorrow's session zoom_out_map For all market-moving economic releases and events, see the MarketPulse Economic Calendar. Once again, participants won't be able to access the normally weekly Jobless Claims release (the 6th consecutively not released) amid the ongoing shutdown.The FX program is expected to be quite filled with Australian trade data releasing tonight, and overnight's EU retail sales data.The North American session will first welcome the Bank of England Rate decision with the release of the Monetary Policy Report (Very important for the GBP).Throughout the rest of the session, expect a flurry of speakers from the Bank of England, Bank of Canada, the usual heavy FEDspeak and a few from the ECB. zoom_out_map All speeches from Central bank speakers in tomorrow's session Safe Trades!Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Key takeaways RBA pause likely: Hotter-than-expected inflation and a rebound in Australia’s services sector may prompt the RBA to halt its rate-cut cycle in November and December.AUD/USD supported: Renewed rate-differential advantage and easing U.S.–China tensions could lend short-term upside momentum to the Australian dollar.Key levels to watch: AUD/USD remains bullish above 0.6515 support, with resistances at 0.6595 and 0.6630. The Australian dollar has managed to catch a bullish beat last week, reinforced by a US-China trade tension de-escalation narrative ahead of the Trump-Xi in-person meet-up in South Korea on Thursday, 30 November 2025.The AUD/USD rallied by 1.3% from Monday, 27 October, to hit a two-week high of 0.6611 on Wednesday, 29 October, before the Aussie bulls dwindled and gave way to a broad-based US dollar rebound due to Fed Chair Powell’s “lack of conviction” speech on a December rate cut during the ex-post FOMC press conference.So far, all the gains seen from 27 October to 29 October have been wiped out on the AUD/USD ahead of today’s RBA meeting. Let’s now examine the various macro and technical factors that may impact the movement of the AUD/USD.RBA may turn less dovish in November and December zoom_out_map Fig. 1: Australia Q3 2025 core CPI, Sep 2025 monthly CPI & RBA cash rate as of 4 Nov 2025 (Source: TradingView) The Australian central bank (RBA) has cut its policy cash rate three times by 25 basis points each so far in 2025, in February, May, and August. Lowering the cash rate from a 13-year high of 4.35% in January 2025 to its current level of 3.6%.After nearly three years of easing price pressures, Australia’s inflation trend appears to be turning higher again. Core CPI accelerated to 3.5% year-on-year in Q3 2025 from 2.7% in the previous quarter, while the monthly CPI indicator climbed to 3.5% in September from 3.1% in August (see Fig. 1).The hotter-than-expected data, coupled with easing U.S.–China trade tensions following last week’s economic accord in South Korea, could prompt the Reserve Bank of Australia to hit pause on its rate-cut cycle at today's, 4 November, and December monetary policy meetings.Against this backdrop, the Australian dollar may find renewed support as widening rate differentials work in its favour.Growth in Australia’s services sector has picked up zoom_out_map Fig. 2: Australia Manufacturing & Services PMIs as of Oct 2025 (Source: MacroMicro) Australia’s services sector is the dominant part of the Australian economy, accounting for close to 60% of annual GDP, which includes key industries such as health, education, and finance.The latest S&P Global Services PMI, a forward-looking gauge of business activity, rose to 53.1 in October 2025 from 52.4 in September, signalling a faster pace of expansion (see Fig. 2).Stronger export demand for services helped offset continued softness in manufacturing. This improvement in the services sector reduces the urgency for further RBA rate cuts, reinforcing expectations that policymakers may pause easing in the coming months.Let’s now focus on the latest technical analysis elements, short-term trajectory (1 to 3 days), and short-term key levels to watch for AUD/USD.Preferred trend bias (1-3 days) – Potential push up above 20-day moving average zoom_out_map Fig. 3: AUD/USD minor trend as of 4 Nov 2025 (Source: TradingView) Bullish bias above 0.6530/0.6515 key short-term pivotal support (also the gap formed on Monday, 27 October), and a clearance above 0.6560 (also the 50-day moving average) may trigger a short-term push up to see the next intermediate resistances coming in at 0.6595 and 0.6620/0.6630 (see Fig. 3).Key elements The recent weakness of the AUD/USD seen on Friday, 31 October, and Monday, 3 November, has managed to find support at the 20-day moving average and the lower boundary of a minor ascending channel from the 14 October 2025 low.The hourly RSI momentum indicator of the AUD/USD has continued to hover above its ascending trendline support after it hit an oversold reading (below 30) on last Thursday, 30 October.Alternative trend bias (1 to 3 days) A break below the 0.6515 key short-term support on the AUD/USD invalidates the bullish recovery scenario for an extension of the minor corrective decline sequence to expose the next intermediate support at 0.6475 and 0.6445 (also the 200-day moving average). Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Market Insights Podcast (03/11/2025): In today’s episode, we join Senior Market Analyst for OANDA, Kelvin Wong, and podcast host Jonny Hart to discuss the current risk-on bullish momentum, as seen in Asian equity performance early this week. Otherwise, we discuss recent dollar upside and look ahead to this week's trading. Join OANDA Senior Market Analyst Kelvin Wong and podcast host Jonny Hart as they review the latest market news and moves. MarketPulse provides up-to-the-minute analysis on forex, commodities and indices from around the world. MarketPulse is an award-winning news site that delivers round-the-clock commentary on a wide range of asset classes, as well as in-depth insights into the major economic trends and events that impact the markets. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

EU ECB Rate of Deposit Facility (October 2025): 2.00% vs 2.00% expected, meets consensusEU ECB Main Refinancing Operation Rate (October 2025): 2.15% vs 2.15% expected, meets consensus The Governing Council today decided to keep the three key ECB interest rates unchanged. Inflation remains close to the 2% medium-term target and the Governing Council’s assessment of the inflation outlook is broadly unchanged. The economy has continued to grow despite the challenging global environment. The robust labour market, solid private sector balance sheets and the Governing Council’s past interest rate cuts remain important sources of resilience. However, the outlook is still uncertain, owing particularly to ongoing global trade disputes and geopolitical tensions. Monetary Policy Decisions, European Central Bank (ECB), 30/10/2025 Breaking: The European Central Bank (ECB) has maintained rates at 2.00% in its October 2025 decision, meeting market expectations.Key takeaway: Maintaining rates for three consecutive meetings, inflation in the eurozone nears the target of 2.00%, unlike in other developed economies. As such, markets don’t expect any change to rates until mid-2026 unless fundamentals change, especially regarding exports, which make up a large share of the EU economy. Markets now look towards the ECB press conference: EU ECB Press Conference, 13:45 GMT Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Falling under 1.32000 yesterday, GBP/USD currently trades 1.3176, down -0.13%.Succumbing to selling pressure, yesterday’s session goes on record as cable’s worst daily performance in thirty-four days.GBP/USD now looks for support both at monthly lows and the 200-day SMA, or will risk a further move to the downside.What’s next for GBP/USD?Let’s discuss.GBP/USD: Key takeaways 30/10/2025 While still up around 5.40% year-to-date, owing mainly to dollar downside as opposed to pound strength, GBP/USD has recently fallen to 5-month lows of 1.31400Later this week, an Office for Budget Responsibility (OBR) assessment is expected to rein in productivity estimates for the UK economy, boding poorly for investor sentiment on the UK economy, weighing harshly on sterling pricingBank of England Governor Andrew Bailey has recently acknowledged softening labour conditions and poor economic growth, but will be hard-pressed to cut rates in the upcoming decision, while inflation is nigh on twice the target of 2% Read about Q3 earnings season: U.S. Companies Surprise with Strong Sales ResultsGBP/USD: Cable under tension As an Englishman, I can say that the collective feeling amongst the British public regarding the UK economy currently leaves much to be desired.The highest inflation of any G7 nation, rising unemployment, and, at best, a middling economy.Safe to say, things are not looking too peachy going into Chancellor of the Exchequer Rachel Reeves' budget next month, which is almost sure to raise taxes in some capacity.Put simply, the current outlook for the UK economy, particularly in terms of public finances, is less than stellar, which is encouraging those to sell sterling in favour of other currencies.Let’s take a look at two headline macroeconomic themes within GBP/USD markets. zoom_out_map British Pound Currency Index (BXY) & US Dollar Currency Index (DXY), D1, TVC, TradingView, 30/10/2025 GBP/USD: Fundamental Analysis 30/10/2025 Markets are nervous of UK fiscal woes: While the public finances of many developed nations are currently somewhat dubious at best, this is particularly true for the United Kingdom, with a multibillion-pound hole that needs to be addressed by the upcoming budget in November.While developments concerning the budget continue to do the media rounds, which will inevitably only increase as November 26th approaches, Rachel Reeves is stuck between a rock and a hard place, between honoring campaign pledges not to raise taxes on working people and VAT while simultaneously needing to find an estimated £30bn to balance spending with tax income.To make matters worse, and coming at an inopportune time for the Chancellor of the Exchequer, an assessment to be released on Friday by the Office for Budget Responsibility (OBR) is expected to substantially downgrade UK productivity forecasts, resulting in a further estimate of £20 billion in shortfall.Not to mention: government borrowing also exceeded estimates in the first half of 2025 by £7.2bn as per last week’s OBR commentary.Tying this back to GBP/USD, however, is remarkably simple: the fiscal health of the UK economy appears to be worsening, and investors are collectively demanding a higher level of risk premium to hold sterling-denominated assets.This fundamental downgrade in sterling’s rating when compared to other stores of wealth is what has led, in no small part, to recent GBP/USD downside. The UK economy is at serious risk of stagflation. Granted, the term is often used loosely, but stagflation is a genuine concern for the UK economy. Currently, the Bank of England is faced with a serious ‘catch-22’: Rising unemployment, now at 4.8%, its highest level since July 2021Poor GDP growth, with recent estimates for Q2 at a measly 0.3%Stubborn inflation, at 3.8% YoY in September and, crucially, almost double the 2.0% target Naturally, the top two bullets would support the notion of cutting rates, while stubborn inflation would support hiking, putting Governor Andrew Bailey and his team of decision makers in an inevitable position.While the Bank of England is due to vote on monetary policy on November 6th, most predict their hand will be forced in maintaining rates at 4.00%, owing to recent inflation trends. zoom_out_map UK Interest Rates, investing.com 30/10/2025 By extension, a decision to hold would put further pressure on an already weak UK labour market and economy, which seems to be a conclusion the markets have already come to, with the first possibility of a rate cut expected to be in February 2026 at the time of writing.At least one outcome of the above is the apparent decline in sterling value, with the current situation for the Bank of England enough to spook investors into rethinking their exposure to GBP.GBP/USD: Technical Analysis 30/10/2025GBP/USD: Daily (D1) chart analysis: zoom_out_map GBP/USD, D1, OANDA, TradingView, 30/10/2025 Having traded in range for some time, recent downside could be enough to break consolidation to the downside.Fair to say, recent performance is decisively bearish, with a pin bar forming in yesterday’s session that bears will look to fill today.Now with 5-month lows of 1.31400 and the 200-day SMA, GBP/USD will need to find support or risk a further move down: Price targets and support/resistance levels:Price target/Resistance #1 - $1.31403 - Triple bottom lowsPrice target/Resistance #2 - $1.31011 - April highs/structureSupport #1 - $1.32904 - Previous consolidation Read Łukasz’s analysis on US equities in today’s session: U.S. Companies Surprise with Strong Sales Results Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Most Read: Microsoft (MSFT) Q3 2025 Earnings Preview: Azure Momentum and the High-Stakes CapEx NarrativeAlphabet (GOOG) is scheduled to report its financial results for the third quarter (Q3) of 2025 after the market closes on Wednesday, October 29, 2025.This earnings report is happening while the stock is doing very well, having recently surged near record high prices above $268 and is close to the $270 target price set by several market analysts.The results are highly anticipated because they will give investors a good look at how effective Alphabet's huge spending on infrastructure (CapEx) is proving to be in the worldwide competition for Artificial Intelligence (AI) leadership.What to Expect? Markets generally expect Alphabet to show strong sales growth but believe its profits will be held back by high spending on investments.Analysts predict the company's total sales (revenue) for Q3 2025 will be around $99.75 billion to $99.9 billion. If they can hit $100 billion, it would be a huge symbolic milestone, the first time Alphabet has reached that quarterly revenue level, proving their growth is robust. This forecast suggests sales will increase by about 13.0% to 13.4% compared to last year.However, the profit per share (EPS) is expected to be a more modest $2.28, which is only a 7.1% to 8.0% increase. This gap, lots of new revenue but slower profit growth is the key takeaway. It shows the financial squeeze caused by the company's aggressive spending.The market accepts this trade-off, understanding that Alphabet is temporarily sacrificing higher profits to pay for the massive infrastructure needed to build its future and lead the AI race.It is important to note that the strong momentum from Q2 2025, where Alphabet exceeded expectations ($96.43 billion revenue and $2.31 EPS) , sets a high bar for Q3 performance. zoom_out_map Source: LSEG, Created by Zain Vawda Investors will be closely checking two main areas: how well the Google Cloud Platform (GCP) is operating, and how strong the core Google Services (mainly Search) business remains.Cloud Growth and Capacity Problems Google Cloud's performance is crucial for proving that the company's huge spending on AI is worthwhile, with sales expected to jump by about 30%. Although demand is clearly strong, a major risk is a reported "lack of capacity." If Google Cloud fails to hit its target of around $14.7 billion, the market will blame the company's operations, not weak customer demand.Essentially, it means Google isn't building its infrastructure fast enough to handle the existing AI demand. This would raise serious doubts about whether the massive spending program is being managed efficiently to keep up with rivals like Microsoft Azure.Protecting the Search Business The Google Services division, mostly powered by Search ads, is expected to grow by about 10%. Even with this growth, the core search business is under threat from new AI competition like ChatGPT. Other AI tools are partnering with big retailers (like Shopify and Walmart) to let users buy things directly, bypassing Google Search entirely.To counter this, management needs to show that the new AI features in Search (like AI Overviews and AI Mode) are keeping users engaged and successfully maintaining, or even boosting, the revenue generated from commercial searches.The AI Spending Trade-Off The number one concern for market participants is the high cost of leading the AI race. Management previously increased its spending plan for the full year 2025 by $10 billion, bringing the total commitment to an unprecedented $85 billion. This massive investment is needed to pay for specialized AI infrastructure, including advanced servers and data centers. Analysts believe this spending could top $100 billion in 2026.This huge cost is squeezing the company's immediate profits. To satisfy the market, management must do more than just say demand is high; they need to show quantifiable data proving that the new $85 billion investment is quickly making high-value services in Cloud and Search more profitable.If Alphabet fails to show that this huge spending is generating adequate returns on investment (ROI), the stock will likely face strong negative pressure, even if total sales figures look good. The company's large-scale global investments, like the recent $15 billion infrastructure project in India, demonstrate its resolve to compete globally and strengthen Google Cloud's presence in Asia.Potential Implications for Alphabet Share Price Alphabet's stock has rallied so strongly leading up to the earnings report thanks to good AI news and less regulatory pressure, the market is essentially expecting perfect results. This high anticipation means the stock is facing a high-stakes, all-or-nothing event, with a large potential movement of 6% up or down after the announcement.The Good News (Bullish) Scenario: For the stock to jump higher, Alphabet needs to do two things. First, it must hit that symbolic $100 billion revenue goal and confirm that Google Cloud is growing strongly (over 30%). Second, management needs to sound confident that they can keep profits steady in the next quarter (Q4 2025) despite the massive spending (CapEx). Strong details on how efficiently they are using their new AI infrastructure are crucial.The Bad News (Bearish) Scenario: For the stock to fall, they would likely miss the $99.9 billion revenue target, report weak Cloud growth because of capacity problems, or issue a poor profit outlook for Q4 due to uncontrolled spending. Since the stock has climbed so quickly, any disappointment could cause a major drop, confirming fears that the price went up "too far, too fast."Ultimately, the most important part of the report won't be the sales and profit numbers for the quarter they just finished, but the forecast they give for Q4 2025 and 2026, particularly how fast they plan to spend on AI and when that spending will start making money.Alphabet (GOOG) Daily Chart, October 28, 2025 zoom_out_map Source: TradingView Follow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Most Read: WTI Oil: Crude rallies above $60 on fresh US sanctions and US million-barrel purchaseThe annual inflation rate in the US rose slightly to 3.0% in September, the highest since January, but was still lower than the 3.1% forecast.What Went Up: The biggest push came from Energy prices, which jumped 2.8% due to higher costs for fuel oil and a smaller drop in gasoline prices compared to August. Prices for new cars also rose slightly faster.What Slowed Down: The rate of price increases slowed for food, used cars/trucks, and transportation services.Shelter costs (rent/housing) stayed steady at 3.6%.The key point for the market was that the annual Core Inflation rate (which excludes food and energy) actually slowed to 3.0% (down from 3.1% in August), surprising markets that expected it to hold steady.Month-over-month, overall consumer prices rose by 0.3%, with gasoline being the largest factor, but this was still slower than the 0.4% rise seen in August. Core inflation for the month also rose slower than expected. zoom_out_map Source: BLS Wall Street Eyes Positive Open As a result of the inflation, US stock indexes were set for a strong opening on Friday. Add to that positive earnings from the tech sector and the stage is set for a solid day ahead.Intel's shares jumped 5.9% before the market opened after the chip company easily beat its profit forecasts, which also lifted rival chip stocks like AMD and Micron. This positive momentum sets a good tone for the coming week, when five of the seven largest tech companies, the "Magnificent Seven," are scheduled to report earnings amid the ongoing excitement over AI.Separately, Procter & Gamble's stock rose 3.5% after it also beat its profit estimates, signaling that consumer demand for everyday products remains healthy.Overall, futures for the major indexes like the Dow, S&P 500, and Nasdaq all indicated gains, with small-cap stocks also expecting a significant rise.There is some data ahead in the form of PMI and Michigan sentiment data, both of which could stoke further volatility depending on the print.Technical Analysis - Dow Jones Index From a technical standpoint, the Dow index is a whisker away from the October 21 high around 47335.A golden cross pattern is taking place as we speak with the 50-day MA crossing above the 100-day MA which is a signal of bullish momentum.However, given the recent rally, could the Dow experience a pullback before the next leg higher?Support rests at 46677 and 4650 respectively.Dow Jones Index Daily Chart, October 24, 2025 zoom_out_map Source: TradingView Safe TradesFollow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Most Read: Tesla (TSLA) Q3 2025 Earnings Preview: Why Record Deliveries Still Mean a Profit Margin SqueezeGBP/USD has fallen around 60 pips since the UK inflation data release this morning. This could be down to the fact that traders added to BoE easing bets, seeing 17bps of cuts by December.The inflation print has brought a December rate cut into play once more as the print comes after wage growth also showed signs of a slowdown last week. However, the BoE decision in December may now rest with the outcome of the UK Autumn budget due in November.UK Inflation Data Opens Door to December Rate Cut The most significant takeaway from the latest UK inflation data is the big drop in food inflation.Officials and the Bank of England (BoE) had grown increasingly concerned throughout the year about rising food prices partly driven by April's tax and minimum wage hikes, fearing that this could fuel consumer expectations and turn the current spike into a more persistent inflation problem. Fortunately, food prices actually dropped in September, pulling the annual rate below 5% and running significantly below the BoE's August forecasts. zoom_out_map Source: ING A similar easing was seen in services inflation, which also dipped below projections, with various measures of "core services," including the closely-watched restaurants and cafés sector, showing a decline.This is particularly reassuring because the BoE had worried that pressure from food inflation could eventually emerge as a slower-moving, more lasting problem in the catering sector, but its annual price rate also thankfully eased in September.I initially predicted an interest rate cut in November, but because the Bank of England (BoE) has been cautious lately, I was forced to reevaluate my position. The market is now much more optimistic about a December cut, pricing a 72% chance of it happening.A December cut is certainly possible, but it will depend on the specifics of the late-November Autumn Budget. Specifically, the Bank will need to see proof that the government plans to significantly tighten spending in 2026, mainly through tax increases, and that these new taxes won't accidentally cause inflation to rise again next year, as some tax hikes did recently.US Dollar Resurgence and US CPI Ahead The US dollar has been on a decent run this week with the Dollar index on course for a retest of the October 9 highs around the 99.57 handle.This has also contributed to the recent fall in GBP/USD.The question now as markets await the highly anticipated US Inflation print due on Friday is whether this is just repositioning ahead of the CPI release.This could be the Dollar rising ahead of the CPI release before falling once the data is out. A very intriguing time for the US Dollar and one which could have wider implications for many currency pairs and asset classes.Friday also brings a host of data from the UK. We have retail sales numbers and S&P PMI data scheduled for release which could impact GBP/USD. zoom_out_map For all market-moving economic releases and events, see the MarketPulse Economic Calendar. (click to enlarge) Technical Analysis - GBP/USD From a technical point of view, GBP/USD on the four-hour chart has returned to a key area of support around the 1.3300 handle.The current four-hour candle is showing signs of a potential move higher but does face some resistance ahead at the 1.3333 and 1.3378 handles respectively.If cable rejects at any of these resistance levels, support at the 1.3250 comes into play before eyes turn to the psychological pivot level around the 1.3000 markGBP/USD Daily Chart, October 22, 2025 zoom_out_map Source:TradingView.com Follow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Key takeaways Gold’s sharp correction: XAU/USD plunged over 8% from its all-time high of US$4,381, marking its steepest drop since August 2020.Short-term bullish reversal signs: Technical indicators, including bullish “Hammer” candlestick formations and RSI divergence, signal potential rebound momentum.Medium-term uptrend intact: Gold remains supported by a sustained downtrend in the 10-year US Treasury real yield below 1.87%.Key levels to watch: Support sits at US$4,056/4,000; resistance zones at US$4,267, US$4,380, and US$4,424/4,455. Gold (XAU/USD) has experienced a volatile movement in the past three sessions. The precious yellow metal has managed to reverse the 1.7% loss it incurred last Friday, 17 October 2025, and rallied by 2.4% on Monday, 22 October 2025, to print a fresh record high of US$4,381.Thereafter, gold (XAU/USD) recorded a swift decline on Tuesday, 21 October 2025, where it tumbled by 6.3% on an intraday basis, but it pared back some losses to close at US$4,125 with a daily loss of -5.3%, still a significant occurrence as yesterday’s loss was the worst since August 2020.Yesterday’s swift decline is likely due to stop-losses triggered on short-term leveraged long positions on gold (XAU/USD), where it has gained “attraction” after the bullish breakout triggered on 29 August 2025 from the prior 4-month of “Ascending Triangle” range configuration that led to a steep bullish impulsive up move sequences in the recent two months.Interestingly, longer-term technical elements and one key macro factor are still suggesting that the medium-term and major uptrend phases of gold (XAU/USD) remain intact.A lower long-term US real interest rate acts as a tailwind for gold zoom_out_map Fig. 1: 10-year US Treasury real yield with Gold (XAU/USD) medium-term & major trends as of 22 Oct 2025 (Source: TradingView) The 10-year US Treasury real yield (excluding 10-year breakeven inflation rate) medium-term downtrend remains intact as it remained below its 50-day moving average and 1.87% key medium-term resistance (see Fig. 1).Based on intermarket analysis, a cap on any further rebound in the 10-year US Treasury real yield below 1.87% and a break below 1.66% key intermediate support reduces the opportunity costs of holding gold (XAU/USD) as it is a non-income-bearing asset, in turn, creating a further positive feedback loop back into the price actions of gold (XAU/USD).Interestingly, the prior decline in the 10-year US Treasury real yield from 2.05% on 1 August 2025 to 1.79% on 28 August 2025 coincided with gold (XAU/USD)’s bullish breakout from its former 4-month “Ascending Triangle” range configuration in place since April 2025.Let’s now examine the latest short-term trajectory (1 to 3 days), relevant key elements, and key levels to watch for Gold (XAU/USD) from a technical analysis perspectivePreferred trend bias (1-3 days) – Bullish reversal at US$4,056/4,000 key support zoom_out_map Fig. 2: Gold (XAU/USD) minor trend as of 22 Oct 2025 (Source: TradingView) Watch the US$4,056/4,000 key medium-term pivotal support, and a clearance above US$4,203 is likely for the bullish reversal scenario to gain traction for the next intermediate resistances to come in at US$4,267, US$4,380 (current all-time high area), and US$4,424/4,455 (see Fig. 2).Key elements Gold (XAU/USD) has staged a swift decline of 8.6% from its current all-time high of US$4,381 printed on Monday, 20 October 2025, to a current intraday low of US$4,004 on Wednesday, 22 October 2025, at the time of writing.The 8% plus rapid decline in the price actions of gold (XAU/USD) has led the hourly RSI momentum indicator of gold to hit an extreme oversold level of 19.61on Wednesday, 22 October 2025, and subsequently, flashed out a bullish divergence condition.The price action of Gold (XAU/USD) has formed an hourly bullish “Hammer” candlestick in today’s Asia session, right after a retest of its rising 20-day moving average. Also, it has formed an impending daily “Hammer” candlestick. These observations suggest a potential capitulation of bearish momentum.Alternative trend bias (1 to 3 days) Failure to hold at the US$4,056/4,000 key medium-term support invalidates the bullish reversal scenario for gold (XAU/USD), where a medium-term (multi-week) corrective decline may unfold to expose the next intermediate supports at US$3,943 and US$3,895/3,864 Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

The US-China trade scare has sent a wave of anxiety across all risk-assets, and digital assets rarely avoid such. Cryptocurrencies got sold off violently at the past week close.It isn't the first time that such flows happen on a Friday late afternoon, but this one was particularly brutal: The Crypto total market cap lost close to $1 trillion in value in about an hour and some altcoins printed down about 70% of their value with cascading liquidations.Since, much of the moves have recovered with conciliatory tones from both US and China, but the overall tone still seems passive/aggressive. zoom_out_map Total Crypto Market Cap, October 16, 2025 – Source: TradingView One could point to the fact that after marking a new $4.27 trillion record three days prior, the profit-taking had already started a selling wave.Some parties might have been informed of the Trump tweet before the bigger move happened? It would not be the first time – Markets are like that despite regulations trying their best to prevent such practices, but all of this is for now just a theory.Some suspicious flows had been demarcated before the selloff started however... Volumes have been holding pretty low since despite the decent recovery, proving how such movement errode market confidence. We'll look at the charts to see if they provide more details right ahead. zoom_out_map Daily overview of the Crypto Market, October 16, 2025 – Source: Finviz Cryptos were up small to start the day but have since started to see some small-scale selling with Ethereum hanging right around $4,000. Other risk assets like Stocks are up for now – tracking sentiment (and any sudden change to it) will be key once again for daily trading, and expect the same for the time to come!Let's explore levels for the Crypto Market leaders: BTC, ETH, SOL and XRP. Read More: Markets Today: UK GDP Up 0.1% in August, Gold & Oil Advance, FTSE Breaks Below 100-Day MA. Fed Speakers In FocusEUR/USD: Recent euro weakness stalled at 1.1530 key medium-term support with a minor “Double Bottom” bullish breakoutCrypto intraday chart analysisBitcoin (BTC) 8H Chart zoom_out_map Bitcoin 8H Chart, October 16, 2025 – Source: TradingView When looking at the chart, one thing stands out: The Friday afternoon wick at $102,000.The move was significant and so rapid that prices just printed at these lows before coming right back higher and closing at $114,000.One thing to notice however is how the June upward trendline has since been broken, with sellers attempting to take control of the price action; an asymmetric double top has formed.Buyers are protecting the $108,000 to $110,000 support, coming into play as we speak.Levels of interest for BTC trading:Support Levels:$108,000 to $110,000 previous ATH support zone (testing)$106,000 mini-support$102,000 Friday afternoon wick$100,000 main support at the psychological levelResistance Levels:Current ATH Resistance $124,000 to $126,000Current all-time high $126,250$120,000 psychological levelPivot Zone $115,000 to $117,000Ethereum (ETH) 8H Chart zoom_out_map Ethereum 8H Chart, October 16, 2025 – Source: TradingView Ethereum has been left out of the most recent crypto inflows since reaching a new record high of $4,950 in end-August. However, the second largest crypto is still holding the $4,000 level and staying there marks volume at 5-year highs, essential for marking its "value" around elevated levels.Momentum is also stabilizing, as showing in the triangle formation.Looking back, Ethereum really had been struggling throughout the past few years – Keep track of its ETF inflows to spot incoming demand (or lack thereof) from retail investors as more and more venues are created for traditional money.Levels to place on your ETH Charts:Support Levels:$4,200 to $4,300 consolidation Zone$4,000 to $4,095 Main Long-run Pivot$3,900 8H MA 200$3,433 Friday lows$3,500 Main Support ZoneResistance Levels:$4,200 to $4,300 consolidation Zone$4,500 mini-resistance$4,700 to $4,950 All-time high resistance zone$4,950 Current new All-time highsA parenthesis on ETH/BTC zoom_out_map ETH/BTC 8H Chart, October 16, 2025 – Source: TradingView The ETH/BTC ratio, a proxy for altcoin appetite has corrected since August 22. Nonetheless, the Friday move and particularly its recovery have marked a decent rebound for bulls. The most positive outcome for the Crypto market would be a break above the corrective channel.On the other hand, the bearish case takes further probability on a channel breakdown.Solana (SOL) 8H Chart zoom_out_map Solana 8H Chart, October 16, 2025 – Source: TradingView Solana is selling off quite aggressively after retesting the $210 levels post-crash.Still evolving within an ascending channel, the key will be to spot if buyers defend the $185 Support to pursue the higher continuation.The lower bound of the channel is at around $170, after which the price action would be entering a bearish territory.Levels to keep on your SOL Charts:Support Levels:$185 Momentum Support (testing)$170 Friday lows$160 August Support$150 Psychological SupportResistance Levels:Pivot Zone $200 to $205Resistance level $218 to $220$235 to $240 mini-resistance and Higher bound of channel$250 to $255 main resistance$290 to $300 all-time high resistance ($295 ATH)Ripple (XRP) 8H Chart zoom_out_map XRP 8H Chart, October 15, 2025 – Source: TradingView XRP broke the range mentioned in our previous altcoin analysis, providing a less bullish outlook for the 4th largest altcoin – Currently neutral.Nonethless, buyers are defending the $2.20 to $2.30 support and the pace at which the selloff occurs has slowed down: Prices have consolidated above the descending trendline.Levels to keep on your XRP Charts:Support Levels:Key support between $2.20 to $2.30 (immediately testing)$2.00 psychological level$1.60 April 2025 support$1.37 Friday wick$1.30 to $1.40 Resistance Levels:Main Support now Pivot - $2.60 to $2.70$3.00 Major Pivot Zone$3.10 to $3.20 resistancePrevious all-time Highs - $3.39Current ATH resistance around $3.66Safe Trades!Follow Elior on Twitter/X for additional Market News, Insights and Interactions @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Recently suffering a loss of 2.50% only six days ago, the Dow Jones 30 edges 0.22% in today’s session, erasing losses from Friday’s trading.Trading around ~$46,428, the Dow Jones now looks for support to continue the recent rally, albeit currently lagging behind its US equity counterparts.What’s next? zoom_out_map Dow Jones 30 (green), S&P 500 (blue) & Nasdaq-100 (yellow) OANDA, TradingView, 16/10/2025 Dow Jones 30 (DJIA): Key takeaways 16/10/2025 Suffering the worst loss since April on Friday, the blue-chip heavy Dow Jones is recovering more slowly than the Nasdaq-100 and S&P 500, as markets look to pare lossesWhile banking earnings topped analyst estimates on Tuesday, forward guidance from JPMorgan & Chase had dampened expectations of growth in Q4, hurting banking stocks and weighing heavily on the price-weighted Dow JonesResponsible in no small part for Friday’s sell-off, a worsening US-China trade war looks set to continue, with Trump accusing China of being “economically hostile” Read more on today’s session: Markets Today: UK GDP Up 0.1% in August, Gold & Oil Advance, FTSE Breaks Below 100-Day MA. Fed Speakers In FocusDow pares losses from Friday, edging higher to $46,428 With US equity trading this week being relatively tame, let’s round up a few macroeconomic themes at play: Trump accuses China of being “economically hostile” over soybean spat: Safe to say I didn’t expect to be writing about soybeans this week, but here we are. With Friday’s sell-off still fresh in the memory, with trade tensions inspiring a risk-off move that seriously hurt US equities, Trump has again renewed a moral offensive on China, with soybean exports his next point of contention. zoom_out_map @realDonaldTrump, Truth Social, 14/10/2025 While most are unfamiliar with the logistics of US legume exports, Trump’s comments are significant in two ways: They further Trump’s narrative of prioritising domestic industryThey signify a breakdown in relative cordiality between the two biggest world economies As for Dow pricing, with Friday being a case in point, a worsening US-China trade war is likely to hurt US equity pricing, with markets becoming more risk-averse.This holds especially true for US tech stocks, such as NVIDIA, a key Dow constituent. Highly sensitive to US-China trade tension, the semiconductor manufacturer lags behind the Dow in terms of recovery since Friday’s sell-off, trading around $182.65 per share. zoom_out_map Dow Jones 30 (green) & NVIDIA (pink) OANDA/Nasdaq, TradingView, 16/10/2025 Forward guidance from US banking sector to disappoint: Despite the best efforts of stellar Q3, topping almost all analyst predictions, markets were quick to sell US banking stocks following comments from JPMorgan & Chase CEO Jamie Dimon. "My antenna goes up when things like that happen. I probably shouldn’t say this but when you see one cockroach, there’s probably more. And so everyone should be forewarned at this point " JPMorgan Chase CEO Jamie Dimon, speaking during Q3 earnings call Dimon, known for his rescue of failed investment bank Bear Stearns, warned of ‘cockroaches’ in the private credit sector, following the collapse of subprime automobile lender Tricolor and car part supplier First Brands.While admittedly somewhat niche to broader Dow Jones commentary, the comments cast further shadows on US private credit, of which banks like JPMorgan are exposed.In the case of Goldman Sachs, at #1 in terms of DJIA weighting, recent performance would go some way in explaining the somewhat hampered recovery of the Dow Jones compared to other US equity indexes. zoom_out_map Dow Jones 30 (green) & Nasdaq BANK index (pink), OANDA, TradingView, 16/10/2025 As a personal aside: perhaps the first and last time I’ll use the word ‘cockroaches’ as part of financial market commentary.Dow Jones 30 (DJIA): Technical Analysis 16/10/2025 To conclude, let’s break down some technicals:Dow Jones 30 (DJIA): Daily (D1) chart analysis: zoom_out_map Dow Jones 30 (US30USD), D1, OANDA, TradingView, 16/10/2025 Let me start by apologising for a cluttered chart - it just so happens that many key levels are close to current price action.With moral obligations out of the way, let me draw your attention to the 14-period RSI, which has been erring on the side of overbought lately.If nothing else, Friday’s sell-off will be eyed by markets as a potential entry point, assuming price finds support at the 20-period SMA.Should price meet resistance and fall, we can also expect some technical buying at the 50 SMA, although, as things stand, a fall to this level is unlikely. Price targets and support/resistance levels:Price target #1: Previous high: $46,434Price target #2: Previous high: $46,843Support #1: 20-Period SMA: $46,346 Read about the precious metals in today’s session: Silver (XAG/USD) Technical Outlook: Silver Price Consolidates Ahead of Next Move. Where to Next? Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Silver prices continue to soar to unprecedented highs with questions being asked about the reason for the rally.Well in all honesty there have been a host of reasons cited as a driving force, all of them may be true to some degree. The most popular ones which have been discussed at length include rate cut expectations from the Federal Reserve, the ongoing supply/demand deficit in physical silver, and of course the price of silver being cheap in comparison to Gold. One of the reasons which has really come to the fore recently is the shortage of physical silver which has led to a big premium for physical silver as well. Recent, widely reported incidents have exposed some key factors regarding silver, particularly due to physical shortages that have made the metal difficult to acquire. This is becoming a global problem.This shortage is especially felt in India, the world's biggest consumer, which has seen its imports drop by a significant 42% this year, even as demand from both investors and industrial users (like those making solar panels and electronics) has surged.The problem is amplified globally because most silver is produced as a side product of mining other metals, making it hard to quickly increase supply when demand spikes.As a result, dealers everywhere are struggling to find the metal, and this scarcity is driving up prices in the supply chain. This physical shortage is not limited to India; countries including China, Turkey, and Australia are also currently facing a scarcity of silver. zoom_out_map Source: Crux Investor As the physical silver shortage continues, the amount of money held in silver Exchange Traded Funds (ETFs) and futures contracts has surged. Large investment funds are now viewing silver as a "higher beta" version of an inflation hedge, meaning it's more volatile than gold, but offers the chance for much larger gains when the market moves up.This structural shift is driven by the fact that silver offers dual benefits that gold does not.:Monetary Asset: Like gold, it protects against the long-term devaluation of traditional paper money (monetary debasement).Industrial Asset: It acts as a powerful bet on industrial growth and the global "energy transition" theme, as silver is a crucial, irreplaceable material used in fast-growing sectors like solar panels, electric vehicles, and high-tech electronics.This unique combination makes silver attractive to both traditional commodity investors looking for a hedge and other market participants focused on clean energy trends.Either way, right now these factors have created the perfect cocktail for Silver prices.Technical Analysis - Silver (XAG/USD) From a technical standpoint, Silver has settled into a period of consolidation since the early hours of Wednesday morning.Price is just shy of the recent high print around the 53.62/oz handle with the period-14 RSI above the 50 level. This is a nod to how strong the bullish momentum behind the Silver move is.Similar to Gold, picking a top at this stage appears counterproductive. However, for day traders opportunities may yet present itself.Silver (XAG/USD) H4 Chart, October 16, 2025 zoom_out_map Source: TradingView.com (click to enlarge) Dropping down to a H1 chart and price has been consolidating in the red/pink block since yesterday.A candle close outside this block could lead to a move in that direction.Obviously the longer price remains in the block the more aggressive the breakout may be.A break to the downside may find support at the 100-day MA resting at 51.84 before the October 14 swing low at 50.59 with the 200-day MA resting below that at the 50.28 handle.A break to the upside may find some resistance at the YTD high at 53.62 before the psychological 55.00 handle comes into focus.Silver (XAG/USD) H1 Chart, October 16, 2025 zoom_out_map Source: TradingView.com (click to enlarge) Client Sentiment Data - USD/CAD Looking at OANDA client sentiment data and market participants are Long on XAG/USD with 64% of traders net-long. I prefer to take a contrarian view toward crowd sentiment and thus the fact that so many traders are Long means XAG/USD prices could fall in the near-term. Follow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

The run in Silver prices has been nothing short of extraordinary. Since the start of the year, the metal has surged more than 80%, with most of the move unfolding after Powell’s late-August speech at Jackson Hole (+37% in a 44-day span).Having broken its 2011 record highs of $49.81, Silver now trades comfortably above $50, and definitely cementing its seat as one of the most explosive rally in more than a decade.Beyond speculation, Silver’s industrial demand — particularly in photovoltaic panels, EVs and advanced electronics — is driving the squeeze. Supply issues are mounting, with growing fears that the metal’s rarity could lead to some disastrous developments for the precious metal.Traders are increasingly nervous. Some metal specialists like Brian Kuszmar admit they have never witnessed a market this volatile, not even during the infamous 1980s Silver boom. zoom_out_map Brian Kuszmar, metal specialist since 1977 – Source: X – October 15, 2025 The parabolic rise now raises one big question — will something blow from this rally? Read More:What if there was no trend in the US Dollar ? DXY OutlookThe Powell/TACO combo lifts Wall Street from early lossesEUR/JPY Forecast: Support at 175.00 Holds the Key to Immediate Bullish ContinuationSilver (XAG/USD) multi-timeframe analysisDaily Chart zoom_out_map Silver (XAG) 2-Day Chart, October 15, 2025 – Source: TradingView Looking out on higher timeframes really mark how strong the rally is.The move is becoming more parabolic as time goes but we haven't seen widespread market panic for now: What can happen in the strongest squeezes is a development of higher-gaps on very thin volumes.Volumes are indeed getting thinner as the rally continues but things are not too out of whack.Up 3% at one point in today's session, some stalling has happened at a test of the $53.71 high timeframe 1.618% Fibonacci-extension (session highs).Reactions don't imply sudden reversals, but it's essential to keep this level in view for reversal/breakout analysis. Let's take a closer look.8H Chart and levels zoom_out_map Silver (XAG) 8H Chart, October 15, 2025 – Source: TradingView The price action is slowing around the current highs after yesterday's strong profit-taking bar.For now, a convergence of a lower high forming with the same pattern on the RSI prompts some slowdown in the silver-rush.Keep an eye on the upward trendline that could come into play on a retracement, particularly as it comes close to the $49.81 2011 record that hasn't been retested.Levels to watch for Silver (XAG) trading:Resistance Levels:Daily peak $53.71$52 to $54 current ATH resistancePotential resistance 1 $57.50 to $60 (1.382% from 2022 lows)Potential resistance 2 $62 to $65 (1.618 from Impulsive Move)Support Levels:$48 to $49 2011 High Pivot$43 to $44 higher timeframe support$39.50 to $40 higher tf momentum pivot zone2012 Highs Support around $37.501H Chart zoom_out_map Silver (XAG) 1H Chart, October 15, 2025 – Source: TradingView Despite the lower high formation, the price action is still consolidating close to the hourly resistance – This marks bull resilience.Keep an eye on the 50-H MA, currently at $52.12. An hourly close below would confirm a retracement to at least the previous ATH level at $49.80.However, a daily close above would maintain the upward trajectory.Safe Trades!Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

EUR/JPY printed a hammer candlestick yesterday just above a key support level hinting at a potential bullish continuation. The bullish daily candle close also came after three successive days in the red but today has seen price action fail to build on yesterday's momentum.EUR/JPY has pushed lower testing the lows printed yesterday. What does the pair have in store for market participants in the coming days? Let us take a look.Japanese Yen: Geopolitical Safety Bid vs. Domestic Instability The Japanese Yen (JPY) is currently getting stronger, but this strength is based on fear and is likely to be temporary.The yen's recent gains is likely because market participants are scared by the rising trade tensions between the US and China, which now includes new shipping fees and tariff threats. This global "risk-off" mood, which is also pushing gold prices to records, makes investors put money into the yen because it's traditionally considered a safe-haven.However, this rise is unstable due to problems in Japan. The currency's gains are limited by political uncertainty following the collapse of the ruling party's coalition. More importantly, the likely new Prime Minister, Sanae Takaichi, has in the past indicated she may interfere with the Bank of Japan's (BOJ) decision to potentially hike interest rates.Market participants think this political interference will prevent the BOJ from raising rates which is what the yen needs to get stronger. We have already seen rate hike expectations take a significant hit following the election, based on the latest LSEG data.These developments are weighing on the Yen and may do so over the medium-term, hinting at potential gains for the Euro.Political Instability Affecting the Euro The euro’s path right now seems stuck because the Eurozone looks shaky.France, for example, saw its prime minister step down, and the country is wrestling with the biggest budget deficit any Euro‑area nation has had in years. That kind of political mess may mean higher risk for investors.Because of that the spread between French OATs and German Bunds has started to widen. In other words, lenders ask for a bigger premium to hold French debt. The market reads this as a sign that the whole bloc could be under pressure. So the euro’s ability to ride out outside shocks looks weaker, which may push the EUR/JPY pair lower.Looking Ahead - Beyond the Data Over the next ten days or so we have a host of data releases which could stoke volatility in EURJPY. However, many of these data releases will likely lead to short-term moves.The political developments in France and Japan may have a bigger impact on the overall direction of the pair, especially regarding BoJ policy. Keep an eye out for any major announcement in that regard in the coming days. zoom_out_map For all market-moving economic releases and events, see the MarketPulse Economic Calendar. (click to enlarge) Technical Analysis - EUR/JPY From a technical point of view, EUR/JPY is resting above a key support level which was the recent swing high around the 175.00 handle.If this level holds there is every chance that EUR/JPY may revisit the YTD high from October 9, resting at 177.92.A break of that handle could open up a run toward the psychological 180.00 handle and beyond.A break of support at the 175.00 handle may open up a deeper retracement with a key level resting at 173.89 before the long-term ascending trendline and the 100-day MA which rests at 171.32 comes into focus.EUR/JPY Daily Chart, October 15, 2025 zoom_out_map Source: TradingView.com Follow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.