Forex Market Review: Dollar Firms, German Ifo Rises
United States of America. The US dollar is strengthening against the pound and the yen, while showing mixed performance against the euro.
Markets
11
November
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By Sagar Dua - 379
The euro shows mixed dynamics in the EUR/USD pair, holding near the 1.1560 mark as market activity remains subdued ahead of the expected end of the U.S. government shutdown. Earlier reports confirmed that the Senate managed to approve a new short-term funding bill extending federal government operations until the end of January 2026. According to available information, representatives from both the Democratic and Republican parties reached an agreement to hold an additional vote on healthcare subsidies under the Affordable Care Act (ACA) in December. The bill now needs approval from the House of Representatives and the signature of President Donald Trump, which will officially end the shutdown that has lasted more than 40 days.
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By Sagar Dua
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In the Forex market, major currency pairs — EUR/USD, GBP/USD, USD/JPY, AUD/USD, and XAU/USD — are showing mixed dynamics amid expectations surrounding the upcoming Federal Reserve rate decision and the potential end of the U.S. government shutdown. Investors are analyzing fresh macroeconomic data and central bank signals, which are shaping the overall direction of currency and commodity instruments.
10
November
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By Sagar Dua
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United States of America. The U.S. dollar is weakening against the euro and the pound but strengthening against the yen.
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By Sagar Dua
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The USD/CAD pair is trading within a medium-term uptrend. Last week, the price reached a nine-month high near 1.4140 but has since begun an active downward correction over the past two sessions. The Canadian dollar is supported by strong labor market data: in October, employment increased by 66.6K versus a forecast of –5.0K, while the unemployment rate fell from 7.1% to 6.9%. Analysts believe this reflects the economy’s adaptation to tariff shocks and the ongoing global trade crisis. In addition, traders now estimate a 90% probability that the Bank of Canada will refrain from further monetary easing at its December meeting.
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By Sagar Dua
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Shares of aluminum producer Alcoa Corp. are correcting near 37.00.
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By Sagar Dua
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Forex: EUR/USD. The EUR/USD pair is gaining value, extending a strong bullish impulse formed at the end of last week. The instrument is testing the 1.1560 level for an upward breakout as traders await new market drivers.
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By Sagar Dua
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The XAU/USD pair is gaining value again, attempting to hold above the key psychological level of 4000.00 and testing 4060.00 for an upward breakout during the Asian session. The instrument was supported by signs of improvement in U.S.–China trade relations: the leaders of both nations agreed to cancel the planned tariff hikes starting in early November.
7
November
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By Sagar Dua
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United States of America. The US dollar is weaker against the euro, firmer versus the pound, and mixed against the yen.
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By Sagar Dua
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During the Asian session, the GBP/USD pair is moving higher around 1.3115. The market’s focus is on the outcome of yesterday’s Bank of England meeting, where the nine-member Monetary Policy Committee narrowly voted—by a one-vote margin—to keep the Bank Rate at 4.00%. The Committee noted that although annual GDP growth stands at 3.8%, overall economic growth is stagnating. Recall that in Q2 the indicator slowed to 0.3% after a 0.7% increase in the first three months of the year, and the regulator now projects growth of 1.5% in 2025 and 1.2% in 2026.
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By Sagar Dua
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The NZD/USD pair continues to decline within a long-term downtrend, approaching the key support level of 0.5590 amid weak macroeconomic data from New Zealand. In the third quarter, the unemployment rate rose from 5.2% to 5.3%, matching analysts’ expectations, while the change in employment came in at 0.0% versus forecasts of 0.1%. The previous figure was revised downward from –0.1% to –0.2%. Labor force participation also decreased from 70.5% to 70.3% against the projected 70.7%. These data confirm a cooling labor market, putting additional pressure on the New Zealand dollar.
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By Sagar Dua
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The leading Japanese stock index NI 225 is correcting near the 50,022.0 mark amid the release of third-quarter corporate earnings reports.
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By Elena - 305
WTI Crude Oil prices are trading below the key 60.00 level this week, weighed down by fundamental factors.
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