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]