USD in the spotlight: latest news

The Canadian Dollar is experiencing a pullback against the US Dollar, with USD/CAD retreating from six-month highs. This marks the second consecutive weekly decline, as the currency pair has reversed from significant uptrend resistance. Market attention is now shifting toward a potential test of forthcoming economic indicators from the Federal Reserve and the Bank of Canada.

The US dollar is experiencing a decline, reaching one-week lows as the market anticipates the Federal Reserve's upcoming rate decision. This situation is influencing significant movements in currency pairs such as AUD/USD, USD/JPY, and USD/SGD.

The EUR/USD currency pair has shown slight gains as it approaches important meetings from the European Central Bank (ECB) and the Federal Open Market Committee (FOMC) this week. Meanwhile, oil prices are declining due to expectations of an additional output increase from OPEC+.

The USD/CAD pair is trading slightly higher, approaching the 1.4000 mark during Tuesday's European trading session. The Canadian Dollar is showing gains despite the US Dollar's fluctuations.

The US Dollar to Japanese Yen (USD/JPY) exchange rate is currently at ¥152.86, having decreased by 0.14% today after hitting a resistance level of ¥153.27 last week.

On October 28, the US Dollar Index (DXY) experienced a minor decline but stayed close to 98.90 as traders anticipated significant macroeconomic events.

The GBP/USD forecast showed a brief recovery as the dollar weakened. Recent data on UK retail sales and the flash S&P Global PMI have strengthened the pound, leading to a decrease in the currency pair's value.

The Pound to Dollar exchange rate (GBP/USD) maintained stability above 1.3300 on Monday, moving closer to 1.3350 as trading ranges remained narrow in anticipation of upcoming Federal Reserve discussions and trade negotiations.

The US Dollar Index (DXY), which tracks the value of the US Dollar against six major currencies, is experiencing losses for the second consecutive session as it tests the lower boundary of its ascending channel around 98.50.

The euro experienced slight increases as traders anticipate important central bank decisions. The 1.17 level remains a point of resistance, while the strength of the dollar continues to influence the market.

Following the agreement between US and Chinese officials on a "preliminary framework deal" over the weekend, the USD/CNH exchange rate has seen a decline, with bears currently holding the advantage.

The U.S. dollar index (DXY) remains around 98.65 as traders prepare for important economic data and the Federal Reserve's upcoming rate decision.

The Pound to Dollar exchange rate (GBP/USD) remained stable just above 1.33 at the start of the new week, following a brief decline to 10-day lows on Friday.

The British pound (GBP/USD) has fallen to 1.3287, a decrease of 0.85% this week. This decline is attributed to weaker U.S. inflation data, which bolsters expectations for a Federal Reserve rate cut, despite strong retail performance in the UK.

Investor sentiment is shifting as October comes to a close, largely influenced by Bitcoin's resurgence to the $111,000 mark. As a result, many traders are reevaluating their portfolios and considering the potential trajectory of Pepe Coin in light of recent market movements.

The South African rand has stabilized after facing volatility due to tariff concerns and profit-taking. This recovery is supported by consistent policy measures, robust economic fundamentals, the exit from the Financial Action Task Force (FATF), and optimism surrounding the African Growth and Opportunity Act (AGOA). Analysts forecast that the USD/ZAR exchange rate could reach R17.

The USD/JPY, NASDAQ, S&P 500, Nikkei, and KOSPI are experiencing increases due to low US inflation and expectations of interest rate cuts. The report includes key levels and recommended trading strategies.

AUD/USD traders are preparing for increased volatility as the Federal Reserve's policy decision, Australia's Consumer Price Index report, and ongoing US-China trade discussions are set to influence the market in the upcoming week.

The US Dollar Index closed higher; however, uncertainty persists due to the potential for a Federal Open Market Committee (FOMC) rate cut and data gaps. Traders are preparing for guidance from Jerome Powell, which is expected to influence the next movement of the DXY.

The Euro to Dollar (EUR/USD) exchange rate closed the week at 1.1628, reflecting a decrease of 0.20%. Investors are now focusing on the upcoming Federal Reserve meetings and their potential impact on the currency market. ING predicts that the EUR/USD rate could reach 1.20 by the end of the year.

The EUR/USD pair closed at 1.1628, having fluctuated between 1.1665 and 1.1577 in anticipation of the Federal Reserve meeting on October 29. Traders are anticipating a 25 basis point cut, with probabilities at 98.3%, bringing the rate down to a range of 3.75% to 4.00%.

The Euro to Dollar exchange rate (EUR/USD) remained stable on Friday, receiving support near 1.1600 before rising to approximately 1.1640, following softer-than-expected US economic data.

The weekly forecast for gold has turned slightly bearish due to significant profit-taking. A stronger dollar has put pressure on gold, despite a medium-term uptrend remaining intact.

The USD/JPY pair is trading at approximately ¥152.80, marking six consecutive days of gains as the yen continues to weaken against a strengthening dollar.

The USD/JPY exchange rate is currently around ¥152.86, having lost momentum after failing to break through the significant resistance level of ¥153.26 last week. Analysts predict a rebound for the Japanese yen, suggesting that the dollar is overvalued above the ¥152 mark.