The dollar dipped on Thursday, while other assets like equities, currencies and commodities rocket after US consumer inflation data fell more than expected in October.
Last night it was announced that Meta (Facebook) was cutting 11,000 employees, reducing their total staff by 13%. This continues a worrying trend of large-scale tech company job cuts that could be a signal of what is to come for the broader employment market.
Both gold and silver surged higher again last night amid a continued weakening USD and volatility returning to markets on mixed news around possible peace talks in Ukraine, the possibility of a full Republican congress and the ‘war’ between 2 of the biggest crypto exchanges breaking out and crypto falling accordingly. But there are more structural factors at play as discussed earlier.
On the crypto market, optimists are shedding blood, and not for the first day in a row. The BTC has dropped to 18,135 USD. The leading cryptocurrency lost 8% overnight and more than 11% over a week.
The market major today is aiming high. The current quote is 1.0080.
EURUSD, “Euro vs US Dollar”
Forex (foreign exchange) refers to trading foreign currencies. In getting to know forex trading, where another name for forex can be referred to as foreign currency or even forex.
On Thursday, November 10, Beijing time, spot gold shock was slightly up in early trading of Asian market, and is currently trading near $ 1710.59 per ounce; market is still widely expected that the Federal Reserve will gradually slow down the part of interest rate hikes, December may only raise interest rates by 50 basis points, so that the dollar under pressure, supporting gold prices.
Actually, it is like a management theory that allows the similarity of the value of something in a certain time with the previous time using the principle of doubling.
On Wednesday, November 10, the dollar index rebounded to regain 110, and closed up 0.75% at 110.45. The euro turned lower against the dollar and once lost parity, the pound fell through the 1.15 and 1.14 hurdles against the dollar in quick succession, and the dollar rose through 146 against the yen again.
On Wednesday, November 9, Beijing time, spot gold shock slightly down in early trading of Asian market, and is currently trading at $ 1668.80 per ounce; the dollar rebounded mildly, putting gold prices under slight pressure; in the U.S. mid-term election results are about to be released, the market wait-and-see sentiment is strong, the overall trading is not large.
In practice, the advantages of forex trading are not only limited to the difference between the selling and buying prices of currencies. There are benefits of overnight interest (swap).
On Tuesday, November 8, as investors greeted the U.S. midterm elections and CPI data for October, the dollar index continued to fall, falling back below 110 for the first time since Oct. 27, closing down 0.56% at 109.60. The euro turned up against the dollar and returned to above parity, the pound touched 1.16 against the dollar at one point, and the dollar fell below the 146 mark against the yen.
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On Tuesday, November 8, Beijing time, spot gold shock slightly down in early trading of Asian market, and is currently trading at $ 1668.80 per ounce; the dollar rebounded mildly, making gold prices under slight pressure.
The Week Ahead: Focus on US midterm elections and US inflation
On Monday, November 7, as market risk appetite rose, the U.S. dollar index extended its decline, closing down 0.52% at 110.21. The euro returned to parity against the dollar; the pound rose above 1.13, 1.14 and 1.15 levels against the dollar, and the risk-sensitive Australian dollar erased all losses against the dollar during the Asian session; the dollar once forced the 146 mark against the yen.