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Euro: ECB caution with tighter conditions – MUFG
MUFG’s Lee Hardman highlights that the Euro faces downside risks as the ECB meets against a backdrop of sharply higher French bond yields and surging European natural gas prices. MUFG expects the ECB to leave rates on hold today but still projects one more hike in December.
Fxstreet
Thu, Oct 29
The Federal Reserve holds rates and two officials vote for a hike: Why the US Dollar stayed flat anyway
The US Dollar (USD) remains in a consolidation phase after the Federal Reserve’s decision to keep interest rates on hold, with market attention shifting directly toward key economic data releases.
Fxstreet
Thu, Oct 29
Australian Dollar: Upside capped at 0.7070 against US Dollar - UOB
UOB strategists Quek Ser Leang and Lee Sue Ann note that AUD/USD outperformed, rising to 0.7065 and closing at 0.7055 as overbought conditions build. Intraday, they see scope for a test of 0.7070 but doubt a sustained break above that level, with 0.7095 also unlikely to be threatened.
Fxstreet
Thu, Oct 29
British Pound: Budget relief and BoE support for Sterling – Societe Generale
Societe Generale analysts see scope for a relief rally in GBP/USD following the UK Budget and ahead of a potentially hawkish Bank of England hike. They argue the UK is on track for the fastest fiscal consolidation in the G7, which could eventually support Gilts and Sterling.
CEE FX: Gas-driven downside risks persist – ING
ING’s Frantisek Taborsky notes the Czech National Bank is likely to deliver a 25bp hike to 4.00%, but stresses that CEE markets are primarily driven by energy prices. While a softer EUR/USD and firmer equities may offer short-term support to CEE currencies, surging TTF gas prices above €100 underpin ING’s bearish medium-term outlook for regional FX.
Hungarian Forint: Euro ambitions leave HUF vulnerable - Commerzbank
Commerzbank’s Tatha Ghose assesses Hungary’s new medium-term framework targeting Euro adoption criteria by 2030. Ambitious fiscal consolidation and growth assumptions leave debt above EU thresholds, while structural reforms and lower inflation remain uncertain.
Fxstreet
Thu, Oct 29
Swiss Franc: Range trade below 0.8320 against US Dollar – UOB
UOB strategists Quek Ser Leang and Lee Sue Ann observe that USD/CHF failed to decisively clear resistance, peaking at 0.8313 before closing lower at 0.8279. For the next 24 hours, they expect consolidation between 0.8265 and 0.8305 as momentum indicators turn flat. Over 1–3 weeks, price action still points to a possible test of 0.8320, though odds of a sustained break higher are seen as low.
Fxstreet
Thu, Oct 29
Italy Unemployment registered at 6.3% above expectations (6.2%) in September
Fxstreet
Thu, Oct 29
Equities: Tech earnings weigh on US futures - Deutsche Bank
Deutsche Bank strategists highlight pressure on US equity futures as disappointing results from Alphabet and Samsung overshadow Microsoft's strong cloud performance. They note broader weakness across Asian markets, while European equities struggle for direction amid rising energy prices.Fxstreet
Thu, Oct 29
US GDP expected to grow at 3.2% in Q3
The United States (US) Bureau of Economic Analysis (BEA) is set to publish its preliminary estimate of the Gross Domestic Product (GDP) for the July-September period on Thursday, with analysts expecting the data to show annualised growth at a solid 3.2%, a decent improvement from the 2.2% expansionFxstreet
Thu, Oct 29
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