Forex & Financial news and FxPro analytics

Market Picture The crypto market is sitting at $2.23 trillion, roughly back to levels of a week earlier, with two legs of growth—at the end of the day on Thursday and the start of trading on Monday. Sentiment has returned.

US producer prices rose at a faster pace in September than analysts had forecast. The headline PPI slowed to 1.8% y/y instead of the expected 1.6%. The core price index, which excludes food and energy, accelerated to 2.8%. While this.

– CHFJPY broke resistance zone – Likely to rise to resistance level 174.90 CHFJPY currency pair under the bullish pressure after the earlier breakout of the resistance zone located between the key resistance level 172.00 (which stopped the previous waves.

– GBPUSD reversed from support zone – Likely to rise to resistance level 1.3200 GBPUSD currency pair recently reversed up from the support zone located between the pivotal support level 1.3030 (former monthly high from July), lower daily Bollinger Band.

During this week, Bitcoin's intraday momentum has been dominated by declines during the US session. Ethereum has failed to break away from 200-week MA for 9th week.

US inflation slightly exceeded expectations, but a surge in jobless claims shifted attention to the need for further policy easing. The dollar remained largely unchanged after conflicting economic data was released.

The US dollar is on the rise, gaining almost daily against major currencies, driven by a shift in expectations for the Federal Reserve's key rate. Strong data, including a notable jobs report, has bolstered optimism about the US economy. However, guidance from FOMC members suggests that 50-point rate cuts are not the new normal. Upcoming consumer inflation numbers and another employment report will significantly influence rate expectations.

– EURUSD broke support zone – Likely to fall to support level 1.0875 EURUSD currency pair under the bearish pressure after the earlier breakout of the support zone located between the key support level 1.1000 (former monthly low from September).

– EURGBP reversed from resistance zone – Likely to fall to support level 0.8340 EURGBP currency pair recently reversed down from the resistance zone located between the key resistance level 0.8400 (former strong support from June, July and August) intersecting.

The cryptocurrency market lost 2.2% in 24 hours to $2.13 trillion, continuing to slide despite the S&P500 index making a solid update to all-time highs. Bitcoin lost over 3%, testing support of 50-day MA.

– USDCAD broke the resistance zone – Likely to rise to resistance level 1.3750 USDCAD currency pair recently broke the resistance zone located between the key resistance level 1.3635 (former monthly high from September) intersecting with the 38.2% Fibonacci correction.

– Gold broke the support zone – Likely to fall support level 2580.00 Gold recently broke the support zone set between the support level 2625.00 (which stopped wave A at the end of September), the support trendline of the daily.