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Bitcoin in tepid rebound as geopolitical woes ease – Crypto News

Inflows lift Bitcoin on Monday, but rebound faltersImproved sentiment holds price action above 50-day MABut geopolitical and election risks keep bulls in checkA short-lived bounce?Digital assets took a significant hit last week from the geopolitical turmoil, as Iran’s missile attack on Israel drove investors to safe-haven assets such as gold, leading to the first outflow in three weeks.
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Wall Street hovers near record highs ahead of earnings season – Stock Markets

Stocks remain supported despite recovery in US dollar and yieldsEarnings are expected to grow in Q3, but at a slower pace than in Q2 Investors remain cautious ahead of US electionBut VIX suggests increasing volatility around the eventGood news is actually good newsAlthough investors have significantly scaled back their Fed rate cut bets lately, Wall Street’s benchmark indices did not suffer.
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Technical Analysis – USDCAD unlocks 2-month high

USDCAD adds almost 2% from the end of SeptemberDouble bottom pattern completedMACD and RSI head northUSDCAD is skyrocketing to a fresh two-month high of 1.3675 as it added almost 2% from the bounce off the 1.3420 trough, achieved on September 25. A double bottom formation has been completed following the break above the 1.3650 line.The momentum
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EURGBP is trading sideways, below the 0.8400 levelUpleg stopped at a downward sloping trendlineMomentum indicators could turn bullishIt has been a rather quiet session in EURGBP today as the market prepares for today’s Fed minutes release and tomorrow’s US inflation report. Euro bulls tried to extend the recent upleg, but their efforts stopped at the April 23, 2024 trendline with EURGBP now trading below the key 0.8400 area.
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Technical Analysis – USDJPY hovers near 38.2% Fibonacci level

USDJPY creates bullish correction from 14-month lowRSI and MACD stand above their mid-levelsUSDJPY is holding above the 38.2% Fibonacci retracement level of the down leg from 161.94 to 136.56 at 148.10 but is failing to extend its rebound from the 14-month low of 139.56 above the previous peak of 149.35.Having a look at the technical oscillators, t
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Daily Comment – Dollar seeks direction amidst tepid market conditions

Fed speakers and minutes in the spotlight todayDollar’s rally pauses, but oil and gold suffer lossesRBNZ cuts rates by 50bps, kiwi weakensChina schedules another press conference as local stocks plungeFed members continue to support a November rate cutThe public discussion regarding the Fed’s next steps continues, as a plethora of Fed members are on the wires almost on a daily basis.
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Technical Analysis – NZDUSD battles with 200-day SMA after RBNZ’s rate cut

NZDUSD continues the bearish correctionTechnical oscillators are mixedNZDUSD plunged significantly after the RBNZ’s decision to cut interest rates by 50 bps. The pair remained closed to the 0.6100 round number and is holding near the 200-day simple moving average (SMA), which is acting as a strong support level.The technical oscillators are showing some contradicting signals.
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Technical Analysis – NZDUSD continues the strong selling interest near 0.6100

NZDUSD decreases more than 4% from 0.6370Price posts the 6th straight red dayStochastics and RSI suggest some upside retracementNZDUSD slipped towards the 0.6100 area, raising worries that the pullback from the 15-month high of 0.6370 could gain more legs. The pair has been losing more than 4% over the last six trading sessions, with immediate support coming from the 200-day simple moving average (SMA) at 0.6095.Any additional declines could remain attractive to traders with the next support lev
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Daily Comment – Risk appetite ebbs as markets fret over China stimulus, Fed rate cuts

Risk sentiment dented as China refrains from fresh stimulus measuresFed officials give cautious green light to more rate cutsDollar and equities turn lower after recent gains as US CPI awaitedMarkets consolidate as China announcement disappointsOptimism about China’s newfound love for bold stimulus policies faded slightly on Tuesday as a much-anticipated press briefing by the country’s National Development and Reform Commission (NDRC) ended without any significant new measures being announce
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Volatility skyrockets across the board after an eventful week – Volatility Watch

Euro/dollar volatility surges to the highest level of the monthVolatility in commodities reaches new monthly highStock indices experience very high volatilityEuro/dollar volatility has reached the highest level of the past 30 days, as the FX market was rocked by the strong US labour market report, denting the possibility of another 50bps Fed rate cut in November.
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JP 225 index remains above uptrend lineRSI and MACD are mixedThe JP 225 cash index has reversed from the 40,000 psychological level, flirting with the red Tenkan sen line of the Ichimoku indicator and the short-term uptrend line.However, for now the technical oscillators reflect contradicting signals. The MACD, in the positive area is rising above its trigger lines, while the RSI is flattening above the neutral threshold of 50.If sellers sink deeper immediate support could come from the 100- and
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Technical Analysis – Gold bulls take a rest after rallying

Gold’s pace moderates within triangle prior to Thursday’s CPI inflation dataTechnical signals favor the bears, but the trend may remain positive Gold held within the range of 2,624-2,670 despite the upbeat US jobs data last Friday, forming a symmetrical neutral triangle at the top of its broad uptrend.Falling technical indicators suggest that buying sentiment is fading, leaving the precious metal vulnerable to downward movements in the upcoming sessions.That said, traders are unlikely to
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As investors scale back Fed cut bets, US CPI data enters the spotlight – Preview

US NFP data eliminate chances of another 50bps rate cutSpotlight turns to US CPI numbers for SeptemberPMI data corroborate the notion for sticky underlying inflationThe data comes out on Thursday, at 12:30 GMTBets of 50bps cut in November disappearThe dollar’s engines received more fuel on Friday, with the catalyst this time around being the robust US employment data for September.
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AUDJPY trades lower again, below the 200-day SMAThe bullish trend from the August 5 trough remains intactMomentum indicators are getting close to sending bearish signals AUDJPY is recording its second consecutive red candle today, dropping again below the 200-day simple moving average (SMA). However, it managed to register a higher high first, and hence the bullish trend, which is in place since the August 5 low and is characterized by a series of higher highs and higher lows, remains valid.
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Technical Analysis – GBPUSD loses 3% from 2½-year high

GBPUSD stops near 1.3100Momentum oscillators suggest upside recoveryGBPUSD is pausing its downward wave that started from the two-and-a-half-year high of 1.3433, hovering near the 50-day simple moving average (SMA) marginally beneath the 1.3100 round level.  The pair has lost around 3%, with the technical oscillators indicating the end of the southward move.
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EURCHF is in the red today, after three green sessionsThe medium-term downward trend is still in placeMomentum indicators remain inconclusiveEURCHF is trading lower today, a tad below the September 26, 2022 low at 0.9403, and partly reversing the last three sessions’ upleg. The 50-day simple moving average (SMA) is acting as strong resistance with EURCHF continuing to move inside the contracting triangle pattern.
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Technical Analysis – Will US dollar index recover further?

US dollar index rises above downtrend lineNext resistance near 200-SMA Momentum oscillators look overstretchedThe US dollar index has been in a bullish corrective mode over the last five days, rebounding from the 14-month low of 99.84. The price successfully surpassed the 20- and 50-day simple moving averages (SMAs) and the short-term descending trend line.However, the technical oscillators are mirroring the latest declining move indicating the end of the upside movement.
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Technical Analysis – US 500 pares post-NFP gains

US 500 index is edging lower, erasing part of Friday’s rallyIt remains a tad below its all-time high, inside a patternMomentum indicators could turn bearish soonThe US 500 cash index is edging lower today but remains very close to its recent all-time high. Friday’s strong US jobs report caused a significant repricing of Fed rate cut expectations and resulted in an unexpectedly positive reaction in US equities.
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Weekly Technical Outlook – USDJPY, NZDUSD, Oil

USDJPY flirts with August’s high after NFP boost; US CPI figures awaitedNZDUSD takes a breather after freefall; RBNZ to deliver a double rate cutWTI oil futures back on the rise as geopolitics worsen; next resistance at 77.16US CPI inflation --> USDJPY  Friday’s nonfarm payrolls report was a strong beat. US jobs growth rose at the fastest pace in six months in September, the unemployment rate fell to 4.1%, and wage growth edged up, leaving investors no option other than to dismiss the
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RBNZ policy meeting: 25 or 50 bps rate cut? – Preview

RBNZ decision could shake kiwi/dollarAs inflation ticks lower, another rate cut is expectedPolicy meeting takes place on Wednesday at 01:00 GMTRBNZ decision to cut ratesThe Reserve Bank of New Zealand is poised to make another rate cut on Wednesday. The RBNZ is expected to follow the Federal Reserve with a half-point cut, as the pressure to reduce real rates at a faster tempo is being exacerbated by a sluggish activity picture and lower inflation.
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