News & analysis

A potential Democratic sweep of Congress is adding to the AI trade's headaches, with Nasdaq 100 futures breaking below a major technical level. The implications for the dollar could be significant.

Yen weakness drives USD/JPY and EUR/JPY higher despite intervention risks, with traders eyeing 160 and 180 as US midterm results emerge.

Recent trading sessions have not been particularly favorable for gold in the short term. XAU/USD has fallen nearly 2.5% over the last three sessions, reflecting that selling pressure is once again gaining relevance and that the metal continues to struggle to regain momentum.

DXY is testing pivotal support, with the weekly range breakout likely to determine the next major leg of the trend as key event risk unfolds.

The Nasdaq 100 was finding some support at 28,000 after recent sell-off amid concerns about the AI trade. Even with oscillators oversold, the risk to the near-term forecast is tilted to the downside.

As the first week of November progresses, renewed weakness in the Japanese yen is once again becoming evident in the short term. This dynamic can be seen in the recent performance of USD/JPY, which has posted two consecutive bullish sessions and gained more than 0.7%, reflecting a return of buying interest in the dollar while the yen continues to lose momentum.

Aussie bulls face a critical test of rising trend support, with the October recovery under threat as selling pressure builds into November.

Silver is testing key support at $49 to $50, the area of its 2011 high, and has yet to bounce. A bullish reversal candlestick would make the picture more constructive, but for now the near-term forecast hangs in the balance.

Dollar, Gold Outlook: The dollar is testing a critical 10-month trendline, while gold is challenging its 2026 low and support near $3,870. The U.S. elections, nonfarm payrolls and bond yields are key volatility catalysts to watch this week.

GBP/USD holds above 1.34 with US midterms and BoE in focus. DAX slips as the global tech selloff continues.

The U.S. Dollar Index, commodities, indices and cryptocurrencies are testing key levels as markets navigate the U.S. midterm elections, U.S.–Iran negotiations and key economic releases.

The RBA hikes rates to 4.85%, but a split vote and softer forward guidance weigh on AUD/USD despite sharply higher inflation forecasts.