The US dollar held steady, finishing almost unchanged from Monday’s close. This stability came amid a slowdown in the rally of US yields, ongoing uncertainty ahead of the US election, and anticipation of key US data releases.
Here is what you need to know on Wednesday, October 30:
The US Dollar Index (DXY) kept its inconclusive price action in the low-104.00 against the backdrop of a widespread cautious trade in the global markets. The usual MBA’s Mortgage Applications is due, seconded by the ADP Employment Change, the advanced Q3 GDP Growth Rate, Pending Home Sales, and the EIA’s weekly report on US crude oil inventories.
EUR/USD managed to rebound from earlier lows near 1.0770 and reclaimed the area just above the 1.0800 hurdle. Germany’s preliminary Inflation Rate takes centre stage along with EMU’s flash Q3 GDP Growth Rate, the final Consumer Confidence print, Economic and Industrial Sentiment, and the ECB’s Consumer Inflation Expectations. In addition, the ECB’s Schnabel is due to speak.
GBP/USD was the outperformer in the risk complex amidst rising expectations ahead of the release of the Autumn Budget on Wednesday.
USD/JPY maintained its trading range in the area of recent multi-week highs, although further gains remained limited by the 154.00 region. Japan’s Consumer Confidence gauge will be released.
Further concerns around China continued to weigh on the Aussie Dollar, sending AUD/USD to new two-month lows near 0.6550. The RBA’s Monthly CPI Indicator is next on tap seconded by the Q3 Inflation Rate.
Market chatter around the likelihood of a diplomatic solution for the crisis in Lebanon sent prices of WTI below the $67.00 mark per barrel, or four-week lows.
Gold prices rose to an all-time high past the $2,770 mark per ounce troy on the back of persistent geopolitical effervescence and prospects of further easing by major central banks. Silver prices rose to four-day highs well north of the $34.00 mark per ounce.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
Gold sits at record highs above $3,000 on escalating geopolitical tensions
Gold price is sitting at record highs beyond $3,000 early Tuesday on intensifying geopolitical Middle East tensions. Israel resumes military operations against Hamas in Gaza after the group rejected US proposals for extending ceasefire. Further US-Iran tensions add to the latest leg up in the safe-haven Gold.
EUR/USD drops to test 1.0900 ahead of German vote on spending plans
EUR/USD tunrs loswer ro near 1.0900 in early Europe on Tuesday. Escalating Middle East tensions and EU-US tariff war lift the US Dollar and weigh on the pair. Meanwhile, Euro buyers stay defensive ahead of the German vote on the fiscal spending plans.
GBP/USD falls toward 1.2950 as US Dollar rebounds on cautious markets
GBP/USD falls back toward 1.2950 in the early European trading hours on Tuesday. The pair faces headwinds from a renewed US Dollar uptick as investors run for cover amid intensifying trade and geopolitical jitters. The focus stays on mid-tier US data and Middle East tensions.
Ethereum consolidates below $2,000 as Standard Chartered alters its prediction for 2025
Ethereum remained just below $2,000 in the Asian session on Tuesday as Standard Chartered's Global Head of Digital Assets Research, Geoffrey Kendrick, updated the bank's 2025 price forecast for ETH.
Five Fundamentals for the week: Fed leads central bank parade as uncertainty remains extreme Premium
Central bank bonanza – perhaps its is not as exciting as comments from the White House, but central banks still have sway. They have a chance to share insights about the impact of tariffs, especially when they come from the world's most powerful central bank, the Fed.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.