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Daily Pivots: (S1) 1.3106; (P) 1.3136; (R1) 1.3174; More… No change in GBP/USD’s outlook and intraday bias stays on the downside. Sustained trading below 1.3140 support should confirm completion of double top pattern (1.3787, 1.3725). Further decline should then be seen to 61.8% retracement of 1.2099 to 1.3787 at 1.2744 next. On the upside break […]
The post GBP/USD Mid-Day Outlook appeared first on Action Forex.
Daily Pivots: (S1) 1.1513; (P) 1.1545; (R1) 1.1569; More… EUR/USD’s fall from 1.1917 continues today and 4H MACD suggests that downside momentum remains firm. Intraday bias stays on the downside for 100% projection of 1.1917 to 1.1540 from 1.1727 at 1.1350. Decisive break there would prompt downside acceleration to 38.2% retracement of 1.0176 to 1.1917 […]
The post EUR/USD Mid-Day Outlook appeared first on Action Forex.
Asian markets saw a firm U.S. dollar, softer regional currencies, and a modest risk-off tone following several key policy signals.
In Japan, Prime Minister Sanae Takaichi said the government will boost tax revenue through economic growth rather than rate hikes, pledging to strengthen supply capacity and invest in services and infrastructure. The yen briefly weakened towards 154.50, its lowest since mid-February, before Finance Minister Katayama’s warning on “one-sided” moves helped it rebound below 154.10.
The greenback’s strength weighed broadly across G10 and Asian FX. The euro fell to its lowest since August, while the Singapore dollar dropped to its weakest since May 12.
The Reserve Bank of Australia delivered an on-hold decision, as expected, but its tone leaned hawkish. Policymakers said inflation has picked up and that underlying pressures persist, even if some of the Q3 rise was temporary. Core inflation is expected to remain above 3% into 2026.
In its Statement on Monetary Policy, the RBA lifted inflation forecasts sharply, saying price growth will stay above target until the second half of 2026. The Bank assumes a cash rate of 3.6% through 2025, signalling a prolonged hold in mildly restrictive territory.
AUD/USD drifted lower in line with the stronger dollar and failed to hold a small bounce after the RBA release.
Elsewhere, South Korea’s CPI rose 2.4% y/y, the fastest since July 2024, driven by food and utility prices, while Japan’s October manufacturing PMI dropped to 48.2, its weakest in 19 months.
From China, the PBOC pledged to strengthen policy support and expand RMB cross-border payment systems, while deepening Hong Kong’s offshore yuan market — reinforcing its commitment to economic stabilisation and currency internationalisation.
In crypto, Ether slumped nearly 9%, briefly breaching $3,600, after a $100 million DeFi hack on Balancer deepened selling pressure. The token remains about 25% below its August high, as traders adjust to a more cautious macro backdrop and fewer Fed-cut expectations.
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This article was written by Eamonn Sheridan at investinglive.com.
The RBA kept the cash rate unchanged at 3.60%, a move widely expected by markets and decided unanimously by the Board. In the statement, policymakers said the decision reflected a balance between inflation risks and economic resilience, noting that Q3 CPI was “materially higher” than expected and that there was “recent evidence of more persistent […]
The post RBA holds at 3.60%, upgrades inflation path, sees only one cut in 2026 appeared first on Action Forex.
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