EUR/USD: Retest of 0.9535 low could follow failure to reclaim parity .

EUR/USD downtrend has undergone a pause recently. Looking ahead, economists at Société Générale expect the world’s most popular currency pair to resume its decline toward 0.9535.Break below 0.9535 to open up next projections at 0.9200/0.9150

“The high formed earlier in October at 1.0000 is near-term resistance. Failure to cross this would mean persistence in the downtrend.”“The pair is expected to head lower towards the recent low of 0.9535. A break below can extend the decline towards 0.9380 and next projections at 0.9200/0.9150.”

GBP/USD approaches 1.1300 as  PM Liz Truss resigns

Political turmoil in the UK has kept investors on their toes ever since PM Liz Truss’s mini-budget failed miserably. The government’s collapse is complete as Prime Minister  Truss resigned and announced a leadership election. GBP/USD holds on to gains near 1.1300.


EUR/USD eases as USD fights back

EUR/USD trades below 0.9800 following the release of mixed US data. Wall Street surges amid solid earning reports, but Treasury yields are also up, reaching fresh multi-year highs.


Gold bounces towards $1,650 as USD extends decline

Gold stages a modest recovery from over a three-week low touched earlier this Thursday, as the US dollar extends its retreat amid a positive shift in market sentiment. Aggressive Fed rate hike bets and elevated bond yields acted as a headwind for XAU/USD, earlier on. 

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