Group 1 - The GBP/USD is experiencing weakness, trading around 1.3365, primarily due to the rebound of the USD [1][3] - The Federal Reserve's recent interest rate cut in December did not lead to sustained weakness in the USD, reflecting investor optimism about future economic growth in the US [3] - Fed Chairman Powell indicated the need for more time to assess the impact of previous rate cuts on the US economy, leading to uncertainty in future rate hike or cut expectations [3] Group 2 - The Bank of England (BoE) faces a more urgent outlook for rate cuts compared to the Fed, driven by the UK's economic weakness and easing inflation pressures [4] - Market expectations for a BoE rate cut have risen significantly, with an 88% probability of a cut in the upcoming week, indicating heightened awareness of the UK economic slowdown [4] - The potential for BoE rate cuts is influenced by changing economic data, particularly the alleviation of inflation pressures, which may further weaken the GBP against a strong USD [5]

Core Viewpoint - The Bank of England's Deputy Governor, Dave Ramsden, indicated that the central bank could continue to lower key interest rates while aiming to bring inflation down to the 2% target, suggesting a cautious and gradual approach to monetary policy adjustments [1] Group 1: Interest Rate Decisions - The Bank of England has lowered interest rates five times since August 2024, with a pace of 25 basis points every three months [1] - Ramsden's comments suggest potential support for continuing this trend in the upcoming November meeting [1] - There are concerns among other committee members about stagnant wage growth despite prolonged high interest rates [1] Group 2: Inflation and Economic Indicators - UK inflation has seen a rebound this year, primarily driven by government policy impacts, such as significant increases in water fees [1] - Food prices have also risen rapidly, raising concerns about household sensitivity to price changes following previous surges in 2022 and 2023 [1] - Ramsden noted that inflation expectations have become more sensitive to food price increases [1] Group 3: Currency Market Analysis - The GBP/USD exchange rate has struggled to maintain above the 21-day simple moving average, currently at 1.3509, and has resumed a downward trend [1] - The currency pair has broken below key support levels, including the 100-day moving average at 1.3487 and the 50-day moving average at 1.3468 [1] - If the downward trend continues, the initial support level is at 1.3300, with further potential declines targeting the August 4 low of 1.3254 and the 200-day moving average at 1.3127 [1]

Group 1: XAU/USD Analysis - The core viewpoint indicates that gold prices experienced fluctuations, breaking through 3783.6 before retreating, with a daily range of 493 points and a small bullish close [3] - Current early morning prices have breached the 3791 to 3798.6 range, approaching the 3800 mark, supported by geopolitical risks, Federal Reserve policy shifts, and de-dollarization trends [3] - Key resistance levels are identified at 3810/3815, with support at 3758/3735, suggesting a strategy of selling at 3810/3815 and buying on dips to 3760 [4] Group 2: EUR/USD Analysis - The analysis notes a loss on a short position due to the price reaching 1.1707, with a daily close showing a small bullish trend influenced by rising French debt and EU trade proposals [6] - Resistance levels are set at 1.180/1.184, while support is at 1.161/1.166, with a recommendation to buy at 1.169/1.170 [8] Group 3: GBP/USD Analysis - The GBP/USD analysis highlights a loss on a short position as the price reached 1.3412, with attention on inflation impacts and US-UK tariff negotiations [10] - Resistance levels are identified at 1.350/1.355 and support at 1.332/1.337, with a buy recommendation at 1.337/1.338 [12] Group 4: GBP/JPY Analysis - The GBP/JPY market saw upward movement with a high of 200.5 before retreating, maintaining an upward trend above key support levels [14] - Resistance is noted at 201.3/200.7, with support at 199.1/198.6, and a buy recommendation on dips to 199.8-199.9 [15] Group 5: Fundamental Reminders - Key economic indicators to watch include UK mortgage approvals, Eurozone economic sentiment, US existing home sales, and comments from Federal Reserve officials [17]

Core Viewpoint - Non-US currencies have strengthened, with the euro to dollar (EUR/USD) and pound to dollar (GBP/USD) rising nearly 30 points, while the dollar to yen (USD/JPY) has fallen over 20 points [1] Currency Movements - EUR/USD experienced a short-term increase of nearly 30 points [1] - GBP/USD also saw a short-term rise of nearly 30 points [1] - USD/JPY faced a short-term decline of more than 20 points [1]

Group 1 - Non-US currencies are experiencing a downward trend, with the Euro to US Dollar (EUR/USD) dropping by 30 points, currently at 1.1155 [1] - The British Pound to US Dollar (GBP/USD) has decreased by 20 points, currently at 1.3262 [1] - The US Dollar to Japanese Yen (USD/JPY) has risen by 22 points, currently at 145.98 [1]

Core Viewpoint - The Euro has depreciated against the US Dollar, reaching a low of 1.11, reflecting a daily decline of 1.32% [1] - The New Zealand Dollar has also weakened against the US Dollar, showing a daily decrease of 0.50%, currently at 0.5878 [1] - The British Pound has experienced a significant drop, falling over 1.00% against the US Dollar, now at 1.3172 [1] Summary by Currency - **EUR/USD**: The Euro has touched a low of 1.11, with a daily decline of 1.32% [1] - **NZD/USD**: The New Zealand Dollar has decreased by 0.50%, currently at 0.5878 [1] - **GBP/USD**: The British Pound has dropped more than 1.00%, now reported at 1.3172 [1]