Forex update: EUR/USD leads gains

Where prices stand

EUR/USD led the group, rising 0.79% from the prior ECB fixing to 1.1267. GBP/USD rose 0.66% from the prior ECB fixing to 1.3500, and AUD/USD rose 0.45% from the prior ECB fixing to 0.7015. USD/CHF fell 0.54% from the prior ECB fixing to 0.8155, while USD/JPY was little changed from the prior ECB fixing at 158.25. The UUP ETF fell 0.31% from the prior close to $28.92. Prices for the five currency pairs are as of Nov 4, 15:00 UTC per the European Central Bank (euro reference rates); the UUP ETF price is as of Nov 4, 15:45 UTC per Finnhub.

Trend check

MarketAlleys trend indicators show EUR/USD neutral with RSI(14) 41.0, 50-day SMA 1.1373 and long SMA 1.1556; USD/JPY neutral with RSI(14) 54.7, 50-day SMA 157.38 and long SMA 158.53; GBP/USD neutral with RSI(14) 58.7, 50-day SMA 1.3375 and long SMA 1.3431. MarketAlleys shows USD/CHF neutral with RSI(14) 41.4, 50-day SMA 0.8222 and long SMA 0.7996, and AUD/USD neutral with RSI(14) 43.7, 50-day SMA 0.7063 and long SMA 0.7056.

Trend status is a rules-based classification of moving averages and MACD on daily closes (as of Nov 3, 22:40 UTC); it is not a recommendation.

In the news

Financefeeds.com reported headlines including "Gold Tops $4,000 as Dollar Slumps on Democrat Midterm Sweep" and "Dollar Hits One-Month Low as Democrats Win Both Chambers." Forexlive ran related headlines, including "Zcash catches a bid as Democratic sweep pressures US dollar and Treasury yields. What's next?" and "Bitcoin whipsaws after Democrats' victory as lower Treasury yields and US dollar provide support."

• Gold Tops $4,000 as Dollar Slumps on Democrat Midterm Sweep — financefeeds.com, Nov 4, 11:41 UTC
• Zcash catches a bid as Democratic sweep pressures US dollar and Treasury yields. What's next? — Forexlive, Nov 4, 11:24 UTC
• Dollar Hits One-Month Low as Democrats Win Both Chambers — financefeeds.com, Nov 4, 12:41 UTC
• Bitcoin whipsaws after Democrats' victory as lower Treasury yields and US dollar provide support — Forexlive, Nov 4, 09:54 UTC

What to watch

The Bank of England rate decision and Monetary Policy Report is scheduled Thu Nov 5, 12:00 UTC, according to bankofengland. Productivity and Costs is scheduled Thu Nov 5, 13:30 UTC, and weekly jobless claims (time not confirmed) are due Thu Nov 5, according to bls and fred respectively. The US Employment Situation is scheduled Fri Nov 6, 13:30 UTC, according to bls.

• Thu Nov 5 (time not confirmed) — Weekly jobless claims (DOL) (US) (source)
• Thu Nov 5, 12:00 UTC — Bank of England rate decision and Monetary Policy Report (GB) (source)
• Thu Nov 5, 13:30 UTC — Productivity and Costs (US) (source)
• Fri Nov 6, 13:30 UTC — Employment Situation (US) (source)

Sources and data

• financefeeds.com (secondary source) — Gold Tops $4,000 as Dollar Slumps on Democrat Midterm Sweep
• Forexlive (secondary source) — Zcash catches a bid as Democratic sweep pressures US dollar and Treasury yields. What's next?
• European Central Bank (euro reference rates) (primary source) — market data
• Finnhub (market data) — market data
• U.S. Treasury and Federal Reserve Board via FRED (primary source) — Yields and dollar index
• U.S. Energy Information Administration via FRED (primary source) — calendar
• Bank of England (primary source) — calendar
• U.S. Bureau of Labor Statistics (primary source) — calendar
• Federal Reserve (primary source) — calendar

Market data as of Nov 4, 15:45 UTC; report generated Nov 4, 15:50 UTC. All times are UTC. Each table row shows its own timestamp and provider.

This report was produced by the MarketAlleys Research Desk using automated data processing and language tools from the sources listed above, and checked against our automated-content validation rules. It is for information only and is not investment advice.