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Key Highlights NZD/USD is attempting to recover from 0.5735. A major bearish trend line is forming with resistance near 0.5830 on the 4-hour chart. EUR/USD extended losses below 1.1640 and might test 1.1580. Gold extended gains and rallied to a new record high above $4,020. NZD/USD Technical Analysis The New Zealand Dollar dived below 0.5850 […]
The post NZD/USD Attempts Recovery – But Bears Lurk Near Resistance Levels appeared first on Action Forex.
Japan 5-yr JGB auction bid-to-cover 3.69 versus 3.70 at prior sale in September
Japan’s latest 5-year government bond (JGB) auction drew a bid-to-cover ratio of 3.69, marginally below 3.70 at the previous sale in September, signalling slightly softer investor appetite.
The tail — the difference between the average and lowest accepted price — widened to 0.06 yen from 0.03 yen, suggesting bids were more dispersed and demand less aggressive.
The result reflects modest caution among investors ahead of the Bank of Japan’s late-October policy meeting, where expectations have shifted toward a slower pace of further tightening following weak recent data. Despite the softer tone, overall demand remains firm by historical standards, underscoring continued domestic appetite for medium-tenor JGBs amid subdued inflation expectations and low volatility.
This article was written by Eamonn Sheridan at investinglive.com.
The US government has approved several billion dollars’ worth of Nvidia Corp. AI chip exports to the United Arab Emirates, according to a Bloomberg piece.
The approval, the first since President Trump took office, comes under a new bilateral artificial intelligence agreement between Washington and Abu Dhabi. A US official said the decision followed the UAE’s commitment to make a reciprocal investment of similar scale in the United States.
The move marks a significant easing in export controls governing advanced AI semiconductors and highlights Washington’s effort to deepen strategic technology ties with Gulf partners.
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Market implications:
Geopolitics: Marks a strategic deepening of US/UAE tech cooperation amid tightened curbs on China.
AI sector: Highlights global competition for chip access as demand for AI infrastructure accelerates.
This article was written by Eamonn Sheridan at investinglive.com.
The standout development of the session was the Phase 1 agreement reached between Israel and Hamas, marking a tentative step toward easing the war in Gaza. The deal covers a hostage-prisoner exchange and a partial Israeli military withdrawal from the Strip, a welcome if limited sign of progress.
Gold drifted lower ahead of the announcement, slipping further after President Trump posted details of the deal on his social media site, before stabilising just above US$4,000. The metal has since recovered to around US$4,024. Oil prices also softened on optimism that the truce could hold, while the U.S. dollar weakened broadly.
Chinese mainland markets reopened after the long Golden Week holidays. In Beijing, the Commerce Ministry (MOFCOM) announced new export controls on rare-earth materials, requiring foreign entities to obtain approval to safeguard national security and interests.
Asia-Pac
stocks:
This article was written by Eamonn Sheridan at investinglive.com.
Hedge funds are stepping up bullish bets on the U.S. dollar, positioning for its rebound to extend through year-end, according to traders cited by Bloomberg.
Activity in options for December has surged, signalling expectations of further euro, yen, sterling, and New Zealand dollar weakness. The Australian dollar remains an outlier, supported by the RBA’s hawkish tone after its September hold.
“We’ve seen hedge funds looking for a tactical long-dollar play,” said Mukund Daga of Barclays, citing strong interest in dollar calls and call spreads. He added that longer-term option buying also reflects lingering scepticism toward fiat currencies.
Citigroup’s Nathan Swami said rising front-end risk reversals across G-10 currencies show a shift in sentiment, though it’s “too early to say the dollar has bottomed.”
The renewed demand follows the end of the dollar’s weakness tied to the U.S. shutdown, with pressure on rivals from France’s political turmoil, Japan’s slow BOJ tightening, and New Zealand’s rate cut.
This article was written by Eamonn Sheridan at investinglive.com.
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