Technical Analysis

ForexLive Asia-Pacific FX news wrap: Early bid for the US dollar

Wall Street Journal had a piece over the weekend from Nick Timiraos,
who has gained a reputation as a Federal Reserve ‘insider’.
Timiraos wrote suggesting higher rates from the Federal Open Market
Committee (FOMC), rates that’ll be held high for longer. Separately
Goldman Sachs published a note raising their forecast for Fed rate
hikes, to 5% by March ‘23.

early trade the USD caught a bid, with a few gaps lower for FX
against the dollar. The gaps have been filled by varying extents
across the board.

has risen above 148.00 again.

was plenty of data today, most notably the official PMIs from China
for October. Both the Manufacturing and Non-manufacturing PMI fell
back into contraction during that month, coming in worse than
consensus expected. The FX impact was small, AUD/USD dipped a few
pips but soon returned to where it had been.

politics the incumbent Brazilian President has lost.

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