🛢 USOIL – Holds $60 as Inventory Build Caps Rebound Despite Supply Risks
🔼 WTI crude steadied +0.70% after 2 days of losses, buoyed by easing glut fears even as U.S. inventories surged by 5.2 million barrels, the biggest rise since July. Prices remain pressured by weak demand signals and Saudi Arabia’s crude price cuts for Asia, while drone attacks on Russian refineries have added temporary support.
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🧠 What’s Driving the Move?
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📊 Daily Gain: +0.7%
📌 Resistance: 61.70 → 65.20
📌 Support: 56.90 → 53.70
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⚠️ Momentum Alert:
WTI remains under the 61.7 resistance zone. A close above 62.00 could revive bullish sentiment; otherwise, range-bound pressure may persist near $60.
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🧠 What’s Driving the Move?
• EIA data: U.S. stockpiles +5.2M barrels vs. -0.1M expected — largest build in months.📊 📈
• Demand slowdown: Global oil demand up just +850K bpd YTD, below forecasts. 🛒📉
• OPEC+ stance: Supply hikes continue, but a pause is planned for early 2026. 🏭📈
• Geopolitical offset: Ukrainian drone strikes disrupt some Russian refining operations. 🇺🇦🇷🇺
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WTI remains under the 61.7 resistance zone. A close above 62.00 could revive bullish sentiment; otherwise, range-bound pressure may persist near $60.
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The Bank of England has announced that it will keep the Bank Rate at 4.00%.
Why the hold?
UK inflation remains around 3.8%, well above the BoE’s 2% target. The decision was a very tight one: a 5–4 vote to hold rather than cut. The BoE emphasised that while inflation may be easing, the situation remains uncertain — they are watching carefully. The upcoming UK budget (scheduled for later this month) adds a layer of fiscal uncertainty which is influencing the BoE’s caution.
The Pound (GBP) was trading at around $1.3066 ahead of the decision. After the hold decision, GBP/USD rose by ~0.15% to ~$1.30725.
Market commentary suggests that the pair is being weighed by a weak UK growth/fiscal outlook (which dampens GBP) and a relatively firm USD (which further caps GBP/USD upside)
The UK/GBP remains a major currency anchor in global FX trades. A steady BoE rate means one less surprise in monetary policy.
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🧠 What’s Driving the Move?
• Softer USD: Greenback slips from multi-month highs, easing headwinds for bullion.💵 📉
• Policy/Fed signals: Tariff-legal doubts + upcoming Fed remarks keep rate-cut path in focus. 🇺🇸🪧🗣️
• Risk backdrop: Longest U.S. shutdown sustains safe-haven demand despite firmer ADP/ISM prints. 🇺🇸🏛🚫
• Flows & structure: Ongoing central-bank/ETF interest underpins the medium-term bid. 🏦💸
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⚠️ Momentum Alert:
Reclaim of 4,000 after a multi-week pullback hints at base-building. A close above 4,045–4,060 opens 4,350-4,400, while failure keeps price pinned in a 3,900–4,045 range.
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💷💵 GBP/USD – Bounces Off 1.30 as BoE’s Dovish Hold Lifts Sterling
🔼 Cable rises +0.50% for a 2nd straight session after the BoE kept rates at 4.0% in a close 5–4 split, with four members voting to cut. Traders now eye a possible December cut while Bailey flagged a “gradual downward path” and data dependence.
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🧠 What’s Driving the Move?
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📊 Daily Gain: +0.50%
📌 Resistance: 1.3170 → 1.3290
📌 Support: 1.3000 → 1.2720
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⚠️ Momentum Alert:
Price nearing the 1.3170-1.3200 zone. A close above opens 1.3290, while failure risks a 1.3050 slide.
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🧠 What’s Driving the Move?
• BoE split: 5–4 vote to hold; doves nearly carried a 25 bp cut. 🇬🇧🗳✂️
• Guidance tilt: Bailey says policy likely to move lower gradually; budget on Nov 26 is key. 🇬🇧💬
• Rates pricing: Markets lift odds of a December cut as inflation risks look more balanced. 🇬🇧⚖️ ✂️📈
• USD tone: Softer dollar/risk-on bounce helps sterling recover from 7-month lows.💵 :📉
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Price nearing the 1.3170-1.3200 zone. A close above opens 1.3290, while failure risks a 1.3050 slide.
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𝐙🔐 ZCASH – Reaches $448 All-Time-Highs as Privacy-Narrative Fuels Surge
🔼 ZEC/USD ripped +14.20% to 448 record highs near , notching a 2nd straight gain as the privacy-coin bid accelerates. The breakout above $400 flips structure bullish with traders now watching the $450 handle and the $500 extension.
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🧠 What’s Driving the Move?
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📊 Daily Gain: +14.20%
📌 Resistance: 450.00 → 500.00
📌 Support: 400.00 → 306.30
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⚠️ Momentum Alert:
Holding 400–410 keeps bulls in control, while a decisive push through $450 opens a run toward $500.
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🧠 What’s Driving the Move?
• Privacy rotation: Sector revival puts ZEC back in the spotlight. 🤐💡
• Derivatives fuel: OI/volume jump and short covering amplify upside.↗️
• Catalysts: Halving/spec upgrades + new perp listings stoke demand.📊
• Relative strength: Outperforms broader crypto despite risk wobble.📈
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Holding 400–410 keeps bulls in control, while a decisive push through $450 opens a run toward $500.
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🇺🇸U.S. Pre-Market Overview — Mostly Positive
💻 Electronic Technology
• NVIDIA (NVDA) +1.15% — Strength continues as AI-driven demand and data-center growth lift sentiment.
• Broadcom (AVGO) +1.38% — Gains on strong networking chip demand and stable earnings outlook.
🍟 Consumer Services
• McDonald’s (MCD) -0.15% — Holding steady after mixed results; cost pressures remain a focus.
• Disney (DIS) -0.12% — Slight dip ahead of expected streaming and restructuring updates.
💲 Financials
• Bank of America (BAC) +2.08% — Leads bank gains after upbeat consumer spending and credit outlook.
• JPMorgan Chase (JPM) +0.37% — Supported by resilience in investment banking and wealth divisions.
💬 Market Outlook:
Broad-based strength among large-cap names highlights growing investor optimism.
Tech and financial sectors continue to attract inflows, signaling confidence in the U.S. economy and supporting a potentially stronger USD at the open.
U.S. stock futures are pointing higher ahead of Thursday’s session, with investor sentiment supported by strength in technology and financial shares. Optimism around AI growth, resilient consumer spending, and stable credit conditions is helping fuel a steady inflow of capital into U.S. markets, setting a constructive tone for the day.
• NVIDIA (NVDA) +1.15% — Strength continues as AI-driven demand and data-center growth lift sentiment.
• Broadcom (AVGO) +1.38% — Gains on strong networking chip demand and stable earnings outlook.
• McDonald’s (MCD) -0.15% — Holding steady after mixed results; cost pressures remain a focus.
• Disney (DIS) -0.12% — Slight dip ahead of expected streaming and restructuring updates.
• Bank of America (BAC) +2.08% — Leads bank gains after upbeat consumer spending and credit outlook.
• JPMorgan Chase (JPM) +0.37% — Supported by resilience in investment banking and wealth divisions.
Broad-based strength among large-cap names highlights growing investor optimism.
Tech and financial sectors continue to attract inflows, signaling confidence in the U.S. economy and supporting a potentially stronger USD at the open.
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With the BLS jobs report delayed / uncertain due to the US government shutdown, we’re tracking these 3 key alternative indicators:
1. ADP Private-Payrolls
– Recent reading shows very weak job gains (or losses) in the private sector.
– Implication: Hiring momentum is stalling = risk for USD strength.
2. Job-Posting Index (Indeed &-others)
– Jobs being advertised are falling = firms may hold back on hiring.
– Implication: If hiring weakens, USD may lose appeal vs currencies of higher growth.
3. Initial Jobless Claims (State-level estimates)
– Weekly/State data give near-real-time labour-market signals.
– Implication: Rising claims = labour market softening = USD under pressure.
– Will these metrics signal a soft landing (stable but slow hiring) or something deeper?
– How will markets price the USD if no official jobs number arrives?
– Impact on major pairs: EUR/USD, USD/JPY, USD/ZAR — keep an eye on how USD reacts to these signals.
Use these metrics as “early alerts” for USD risk. Tighten stop-losses and watch for spikes in volatility around jobs-related releases (or absence thereof).
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🗞Daily Market Digest:
Markets React as BoE Splits, Fed Stays Cautious, and Oil Slides Below $60 Amid Global Trade Shifts🇬🇧🇺🇸🛢
Markets React as BoE Splits, Fed Stays Cautious, and Oil Slides Below $60 Amid Global Trade Shifts🇬🇧🇺🇸🛢
🇬🇧 The Bank of England’s narrow 5–4 decision to hold rates at 4.00% sparked dovish bets, while Federal Reserve officials echoed Powell’s cautious tone, tempering expectations for a December rate cut.💵 🥇 🛢 Meanwhile, a softer U.S. Dollar and lingering shutdown fears lifted Gold back above $4,000, and oil extended its three-day decline toward $59 as Saudi OSP cuts and a surprise U.S. stock build reinforced supply fears.
🇦🇺 🇪🇺The Australian Dollar lagged despite a stronger trade surplus, while Eurozone data disappointed but ECB reassurance steadied the euro.📈 📉 Technically, GBP/USD held under 1.3170 resistance, EUR/AUD tested 1.80, and WTI stayed bearish below $60.🔜 📰 Looking ahead, focus turns to Japan’s household spending, China’s trade balance, and Canada’s jobs data to gauge the next wave of cross-asset volatility.
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With Global Risk Sentiment Mixed And Major Data Ahead — Which Market Will You Be Watching Most Closely Today? ❓
Anonymous Poll
50%
💵💴 USD/JPY – Reaction to Japan’s household spending data
100%
🥇 XAU/USD – Testing the $4,000 zone as fiscal jitters linger
50%
🇨🇦 CAD pairs – Ahead of Canada’s key employment report
50%
💶💵 EUR/USD – Responding to Germany’s trade balance release
Forwarded from Prop Trader Global | Forex • Crypto • Gold
Both markets offer big opportunities — but they work very differently
* Forex: Open 24 hours, *Monday to Friday*.
* Crypto: Open *24/7*, even on weekends and holidays.
🏦Market Size & Regulation
* Forex: Largest financial market in the world — *highly regulated*.
* Crypto: Smaller but growing fast — *less regulated*, higher volatility.
* Forex: More stable price movements.
* Crypto: Wild swings = *higher profit potential*, but *greater risk*.
* Forex: Currency pairs like *EUR/USD or GBP/USD*.
* Crypto: Digital assets like *BTC, ETH, XRP*, and many more.
Bottom Line:
Forex is perfect for those who prefer stability and structure.
Crypto suits traders who thrive on volatility and innovation.
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👁🗨🟩 NVIDIA – Slides -3.65% for 3rd Day as AI Leaders Retreat; $440B Cap Wiped Since Mon
🔽 NVDA extended its pullback, marking a third straight decline as mega-cap AI names cooled and headlines swirled around China export limits and CEO Jensen Huang’s “nanoseconds behind” remark. Sentiment jitters overshadow ongoing AI infra deals and ecosystem wins.
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🧠 What’s Driving the Move?
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📊 Daily Loss: -3.65%
📌 Resistance: 207.00 → 220.00
📌 Support: 179.80 → 167.00
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⚠️ Momentum Alert:
Failure to hold above the 200 zone risks 179.80. A close back over 207.00–210.00 would neutralize the slide and re-open 220.
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🧠 What’s Driving the Move?
• Risk-off in AI: Big Tech/AI cohort fades; Nasdaq under pressure.🌐 📉
• China overhang: Lawmakers back curbs on top-end chips; Huang tempers comments. 🇨🇳📉
• Tape factors: $440B market-cap drawdown in 3 sessions amplifies volatility.📊
• Flow/news mix: Insider sales & mixed headlines vs. steady AI infrastructure demand.📈 🗞
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Failure to hold above the 200 zone risks 179.80. A close back over 207.00–210.00 would neutralize the slide and re-open 220.
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🛢 USOIL – Rebounds Above $60 After 3-Day Slide as Traders Eye OPEC & IEA Reports
🔼 WTI crude edges +1.20% higher today, snapping a 3-day decline but still set for a 2nd straight weekly loss amid persistent oversupply concerns. Gains came as geopolitical risks in Russia and Venezuela lent modest support ahead of next week’s OPEC and IEA market outlooks.
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🧠 What’s Driving the Move?
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📊 Daily Gain: +1.20%
📌 Resistance: 61.70 → 65.20
📌 Support: 56.90 → 53.70
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⚠️ Momentum Alert:
WTI rebounds off 59.60 lows but remains within a bearish channel. A break above 61.70 could trigger short-covering toward 65.20, while failure to hold 59.80 risks a 56.90 renewed pressure.
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🧠 What’s Driving the Move?
• EIA data: U.S. crude stocks rose +5.2M barrels, fueling glut concerns. 🛢↗️
• OPEC+ output: Group to raise production in Dec but pause further hikes in Q1 2026. 🛢🏭📈
• Geopolitics: Drone strikes on Russian refineries and Venezuela unrest cap downside. 🇷🇺🇻🇪
• Market tone: Risk-aversion easing slightly as dollar softens into weekend trade.💵 📉
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WTI rebounds off 59.60 lows but remains within a bearish channel. A break above 61.70 could trigger short-covering toward 65.20, while failure to hold 59.80 risks a 56.90 renewed pressure.
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Today’s Non-Farm Payroll (NFP) report is expected to be canceled due to the ongoing U.S. government shutdown.
With major departments closed, including the Bureau of Labor Statistics, the release of key economic data like NFP is temporarily suspended.
Expect lower liquidity and increased uncertainty in the USD pairs and gold as markets react to the absence of major data guidance.
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🇺🇸 US Shutdown:
Still ongoing — limiting official data releases. Focus shifts to private reports.
The record-long shutdown may be ending soon. Republicans warming to extending ACA/Obamacare subsidies.
The Supreme Court began hearings on legality of Trump’s tariffs.
Some conservative judges sceptical — ruling could go against Trump.
If overturned, the administration could invoke Section 122 (Trade Act 1974) for 15% temporary tariffs.
🇨🇳 China PMIs:
Disappointed in October due to weak export orders tied to tariff threats.
• Bond yields: Volatile — up on ADP data, down on job cuts
• Stocks: Weighed by bubble fears
• USD: Ended week flat
🇪🇺 Eurozone Sentix & German ZEW
🇺🇸 US NFIB Small Business Optimism
🇨🇳 China Retail Sales, Industrial Output & Housing Data
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