Tuesday Briefing: From DXY, Gold to latest FX Headlines; Nov 01, 2022

US Dollar Index Overview

• DXY reverses previous losses and stabilizes back above 111.00 mark.

• It made intraday high at 111.57 and low at 110.72 mark.

• A day Chart and H1 chart with triple EMA suggest up trend for the time being.

• Immediate hurdles are seen at 111.65 to 110.67 mark.

• A sustained close of either side on H1 chart requires for the further directions of the U.S. dollar.

Technical Analysis: XAU/USD (Gold)

• Gold falls in U.S. session and slips back below $1,650 mark.

• The pair made intraday high at $1,657 and Low at $1,630 mark.

• A day chart and H1 chart with triple EMA suggest down trend for the time being.

• A sustained close above $1,654 on H1 chart requires for the upside rally.

• Alternatively, a consistent close below $1,631 on H1 chart will test further supports.

Key Headlines for the FX market:

• South Korea moved to calm public outrage over a Halloween party crush that killed more than 150 people, most of them young, promising a speedy and intensive inquiry and calling for tough new safety measures to prevent similar disasters.

• Russia ordered civilians to leave a sliver of Ukraine along the eastern bank of the Dnipro River, a major extension of an evacuation order that Kyiv says amounts to the forced depopulation of occupied territory. Heres what you need to know about the conflict right now.

• Truckers who support Brazil‘s outgoing President Jair Bolsonaro escalated their protests, blocking roads throughout the country in actions that could affect exports in one of the world’s top food producers and cause wider economic chaos. Bolsonaro has been silent on the election victory of Luiz Inacio Lula da Silva.

• sraelis began voting for the fifth time in less than four years, with former premier Benjamin Netanyahu bidding for a comeback in a race likely to turn on a far-right party that has risen from the fringe to become a potential coalition kingmaker.

• President Joe Biden will visit Florida today to contrast Democratic healthcare plans to those of Republicans while taking on potential 2024 rival Ron DeSantis during a campaign event.

• Everyone in Briton will need to pay more in tax in the coming years to fix a hole in public finances, a source in the finance ministry said, following a meeting between Prime Minister Rishi Sunak and finance minister Jeremy Hunt.