The PBOC set the USD\/CNY reference rate at 7.0865, lower than the previous 7.0901. Meanwhile, NZD\/USD recovered some strength above 0.5650 despite a negative New Zealand jobs report, showing resilience in the currency market.<\/p>\n
The GBP\/USD pair found temporary support slightly above 1.3000 ahead of an anticipated Bank of England rate decision. The currency’s movement depicts responses to technical and market pressures over recent weeks.<\/p>\n
Gold’s position remains under psychological pressure, failing to breach the $4,000 mark despite US-China trade optimism and a hawkish Federal Reserve stance. Ethereum shows signs of stabilizing after recent declines, supported by recovery metrics. <\/p>\n
Elsewhere, Stellar (XLM) faces potential further declines as a Death Cross pattern has emerged. This follows a pattern breakout and reduced retail demand impacting the cryptocurrency’s market trajectory.<\/p>\n
We are seeing significant strength in the South Korean economy, with the September current account surplus hitting a robust 13.47B. This trend is supported by preliminary October trade data released this week, which showed another strong surplus of $7.8 billion driven by semiconductor exports. Traders should consider buying call options on the KRW\/USD pair to position for further appreciation of the won in the coming weeks.<\/p>\n
The US Dollar remains strong, a situation reminiscent of the aggressive Federal Reserve tightening cycle we saw back in 2022 and 2023. With the official Non-Farm Payrolls report for October due tomorrow and forecasts pointing to another 210,000 jobs added, we could see another leg up for the greenback. A short-term straddle on the EUR\/USD, currently stuck below 1.1500, could be a smart play to capture volatility around the announcement.<\/p>\n
Gold continues to struggle below the $4,000 mark as risk appetite and a hawkish Fed outlook put pressure on safe havens. This sentiment is confirmed by data showing global gold-backed ETFs saw net outflows of 15 tonnes in the first few days of November. We believe selling out-of-the-money call options on gold futures is a viable strategy to collect premium while the metal remains capped.<\/p>\n
The Pound is finding little support, with the bounce above 1.3000 looking fragile as we expected. The Bank of England\u2019s decision earlier today to hold rates at 5.5% while adopting a more dovish tone on future growth confirms this weakness. For the coming weeks, we see value in buying put options on the GBP\/USD, targeting a move below that key 1.3000 level.<\/p>\n
Create your live VT Markets account<\/a>\u00a0and\u00a0start trading<\/a>\u00a0now. <\/b><\/p>\n","protected":false},"excerpt":{"rendered":" South Korea\u2019s surplus rises; gold dips; currencies fluctuate; Ethereum stabilizes; Stellar weakens amid emerging Death Cross pattern.<\/p>\n","protected":false},"author":5,"featured_media":17021,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-34141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/posts\/34141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/comments?post=34141"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/posts\/34141\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/media\/17021"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/media?parent=34141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/categories?post=34141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/tags?post=34141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}