{"id":349,"date":"2023-05-31T15:30:47","date_gmt":"2023-05-31T15:30:47","guid":{"rendered":"\/?page_id=349"},"modified":"2024-11-20T14:02:20","modified_gmt":"2024-11-20T06:02:20","slug":"forex-news","status":"publish","type":"page","link":"https:\/\/www.sec.rakuten.com.hk\/en\/insight\/forex-news","title":{"rendered":"Forex News"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"349\" class=\"elementor elementor-349\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-79d86a79 e-flex e-con-boxed e-con\" data-id=\"79d86a79\" data-element_type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[],&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-33846201 page-banner__breadcrumbs elementor-widget elementor-widget-jet-breadcrumbs\" data-id=\"33846201\" data-element_type=\"widget\" data-widget_type=\"jet-breadcrumbs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-jet-breadcrumbs jet-blocks\">\n\t\t<div class=\"jet-breadcrumbs\">\n\t\t<div class=\"jet-breadcrumbs__content\">\n\t\t<div class=\"jet-breadcrumbs__wrap\"><div class=\"jet-breadcrumbs__item\"><a href=\"https:\/\/www.sec.rakuten.com.hk\/en\" class=\"jet-breadcrumbs__item-link is-home\" rel=\"home\" title=\"HOME\">HOME<\/a><\/div>\n\t\t<\/div>\n\t\t<\/div>\n\t\t<\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-76ca3d1e page-banner__title elementor-widget elementor-widget-heading\" data-id=\"76ca3d1e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.14.0 - 26-06-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">Forex News<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-36ddf7ac e-flex e-con-boxed e-con\" data-id=\"36ddf7ac\" data-element_type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[],&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-aca915 elementor-widget elementor-widget-heading\" data-id=\"aca915\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-heading-title elementor-size-default\">News source: FXStreet<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-71bc2f67 elementor-widget elementor-widget-shortcode\" data-id=\"71bc2f67\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-shortcode\">\n\n\n<style>\n  .latest-news__item {\n    position: relative;\n    padding-bottom: 32px;\n    margin-bottom: 40px;\n    border-bottom: 1px solid #D6D6D6;\n  }\n\n  .latest-news__summary {\n    display: flex;\n    gap: 40px;\n  }\n\n  .latest-news__thumb {\n    width: 270px;\n  }\n\n  .latest-news__thumb img,\n  .latest-news__date-icon 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.latest-news__title {\n      display: -webkit-box;\n      -webkit-box-orient: vertical;\n      -webkit-line-clamp: 2;\n      overflow: hidden;\n    }\n\n    .latest-news__accordion-btn {\n      position: absolute;\n      top: calc(100% + 20px);\n\t  left: 50%;\n\t  transform: translateX(-50%);\n      font-size: 16px;\n      letter-spacing: 0.8px;\n\t  margin-top: 0;\n    }\n\n    .latest-news__accordion-btn.is-active {\n      margin-top: 0;\n    }\n\n    .latest-news__accordion-btn::after {\n      width: 16px;\n      height: 16px;\n    }\n\n    .latest-news__item {\n      padding-bottom: 52px;\n      margin-bottom: 24px;\n    }\n\n    .latest-news__content {\n      font-size: 18px;\n\t  max-height: 400px;\n\t  margin-top: 56px;\n    }\n\n    .latest-news__content ul li {\n      padding-left: 22px;\n    }\n\n    .latest-news__content ul li::before {\n      width: 10px;\n      height: 10px;\n    }\n\n    .latest-news__content .fxs-content-module-header {\n      font-size: 18px;\n      padding-right: 72px;\n    }\n\n    .latest-news__content .fxs-content-module-content {\n      padding-right: 0\n    }\n  }\n<\/style>\n\n<section class=\"latest-news\">\n  <div class=\"latest-news__list\">\n            <div class=\"latest-news__item js-news-item\">\n          <div class=\"latest-news__summary\">\n            <figure class=\"latest-news__thumb\">\n              <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/editorial.fxsstatic.com\/images\/i\/USDCAD-bullish-animal_Large.png\" alt=\"\" width=\"270\" height=\"180\">\n            <\/figure>\n            <div class=\"latest-news__title-wrapper\">\n\t\t\t\t<div>\n              <div class=\"latest-news__date\">\n                <figure class=\"latest-news__date-icon\">\n                  <img decoding=\"async\" src=\"\/wp-content\/uploads\/ico_clock.svg\" alt=\"\">\n                <\/figure>\n                <span>Nov 04, 11:53 HKT<\/span>\n              <\/div>\n              <div class=\"latest-news__title\">Canadian Dollar gains as falling Treasury yields, rising oil weigh on USD\/CAD<\/div>\n\t\t\t\t\t\n\t\t\t\t<\/div>\n\t\t\t  <button class=\"latest-news__accordion-btn js-accordion\">\n\t\t\t\t<span>Read article<\/span>\n\t\t\t\t<span>Close<\/span>\n\t\t\t  <\/button>\n            <\/div>\n          <\/div>\n          <div class=\"latest-news__content is-en js-news-content\">\n            <style>.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:\"\";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}<\/style>\n<ul><li value=\"1\"><strong>USD\/CAD declines as the US Dollar struggles amid falling US Treasury yields.<\/strong><\/li><li value=\"2\"><strong>Early midterm election results show Democrats leading Republicans in early calls for the US House.<\/strong><\/li><li value=\"3\"><strong>Crude oil rose amid US-Iran diplomatic negotiations and mixed signals regarding potential military action.<\/strong><\/li><\/ul><p>USD\/CAD depreciates after two days of gains, trading around 1.3970 during Asian hours on Wednesday. The USD\/CAD pair is losing ground as the US Dollar (USD) weakens and Treasury yields fall across the curve. US 2-year Treasury yields dropped five basis points to 4.566%, while benchmark 10-year yields fell six basis points to 4.90%.<\/p><p>US citizens vote in midterm elections, serving as a key verdict on President Donald Trump's second term. As polls close in early states, live data from Decision Desk HQ shows results called in 201 of the 435 U.S. House seats, with Democrats securing 124 seats and Republicans 77.<\/p><p>Adding to the USD\/CAD pair's decline, the commodity-linked Canadian Dollar (CAD) is gaining support from rising crude oil prices, which have advanced as investors evaluate ongoing peace negotiations between the US and Iran. Qatar\u2019s Foreign Ministry spokesperson confirmed that both nations are assessing new proposals from mediators to bridge differences, though Iran\u2019s national security chief stated on social media that Washington\u2019s response remains unsatisfactory.<\/p><p>Meanwhile, Donald Trump stated that the US has no immediate plan to strike Iran and appears to be achieving its objectives, according to the Financial Times. He noted that while the US stands ready to act if necessary, an attack may not be required, despite Israeli Prime Minister Benjamin Netanyahu hinting at possible military action later this week.<\/p><h2 class=\"fxs_headline_from_medium_to_large\">CAD focus shifts to US midterms as domestic data thins<\/h2><p>Analysts at Scotiabank point out that the domestic data calendar offers few catalysts in the near term, noting that \"the domestic release calendar is limited ahead of Wednesday\u2019s trade data, and near-term risk will center on the US midterms and their impact on the broader tone.\" This leaves broader market sentiment around the US political backdrop as the key driver for the Canadian Dollar in the coming sessions.<\/p><div class=\"post-module\"><div id=\"content-module-faq-Forex-cad-701\" data-type=\"faq\" data-module=\"faq\" data-config-topic=\"cad\" data-config-category=\"Forex\" data-version=\"v1\" data-content-module-translate=\"0\">\n    <div class=\"fxs-faq-module-wrapper\">\n        <h2 class=\"fxs-faq-module-title\">Canadian Dollar FAQs<\/h2>\n        <div class=\"fxs-faq-module-container\">\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-cad-701accordion0\" checked=\"checked\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-cad-701accordion0\">\n                            <span>What key factors drive the Canadian Dollar?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada\u2019s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada\u2019s exports versus its imports. Other factors include market sentiment \u2013 whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) \u2013 with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-cad-701accordion1\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-cad-701accordion1\">\n                            <span>How do the decisions of the Bank of Canada impact the Canadian Dollar?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting  interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-cad-701accordion2\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-cad-701accordion2\">\n                            <span>How does the price of Oil impact the Canadian Dollar?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is  Canada\u2019s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-cad-701accordion3\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-cad-701accordion3\">\n                            <span>How does inflation data impact the value of the Canadian Dollar?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada\u2019s case is the Canadian Dollar. <\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-cad-701accordion4\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-cad-701accordion4\">\n                            <span>How does economic data influence the value of the Canadian Dollar?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.<\/p>\n                <\/section>\n        <\/div>\n    <\/div>\n<\/div><\/div>          <\/div>\n        <\/div>\n            <div class=\"latest-news__item js-news-item\">\n          <div class=\"latest-news__summary\">\n            <figure class=\"latest-news__thumb\">\n              <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/editorial.fxsstatic.com\/images\/i\/nfp-clock_Large.png\" alt=\"\" width=\"270\" height=\"180\">\n            <\/figure>\n            <div class=\"latest-news__title-wrapper\">\n\t\t\t\t<div>\n              <div class=\"latest-news__date\">\n                <figure class=\"latest-news__date-icon\">\n                  <img decoding=\"async\" src=\"\/wp-content\/uploads\/ico_clock.svg\" alt=\"\">\n                <\/figure>\n                <span>Nov 04, 10:52 HKT<\/span>\n              <\/div>\n              <div class=\"latest-news__title\">New Zealand Dollar struggles to build on weak USD-led gains amid RBNZ's dovish tilt<\/div>\n\t\t\t\t\t\n\t\t\t\t<\/div>\n\t\t\t  <button class=\"latest-news__accordion-btn js-accordion\">\n\t\t\t\t<span>Read article<\/span>\n\t\t\t\t<span>Close<\/span>\n\t\t\t  <\/button>\n            <\/div>\n          <\/div>\n          <div class=\"latest-news__content is-en js-news-content\">\n            <style>.fxs-event-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-event-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-event-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-event-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:12px}.fxs-event-module-section:last-child{border:none;margin-bottom:0}.fxs-event-module-header{color:#1b1c23;font-weight:700;font-size:16px;font-style:normal;line-height:20px;margin:0;padding:4px 0;background-color:#fff;border:none;position:relative;padding-right:32px}.fxs-event-module-header label{cursor:pointer;display:block}.fxs-event-module-header label:after,.fxs-event-module-header label:before{content:\"\";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-event-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-event-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]{display:none}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:after{transform:rotate(45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-event-module-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0;margin-top:8px}.fxs-event-module-content.why-matters{max-height:0;overflow:hidden;transition:all .3s ease-in-out}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-content.why-matters{max-height:1000px;margin-top:8px}.fxs-event-module-calendar-title{color:#1b1c23;font-size:17.6px;font-family:Roboto;font-style:normal;font-weight:700;line-height:20.8px;margin:4px 0 0 0}.fxs-event-module-calendar-title-description-wrapper{display:flex;flex-direction:column;gap:12px;border-bottom:1px solid #ececf1;padding-bottom:16px;margin-bottom:16px}.fxs-event-module-inner-calendar{padding:16px}.fxs-event-module-inner-calendar .fxs-event-module-section{padding:0}.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:12.8px;line-height:17px}.fxs-event-module-read-more{display:flex;align-items:center;align-content:center;gap:4px;color:#e4871b;font-size:12.8px;font-family:Roboto;font-style:normal;font-weight:700;line-height:17px;text-decoration:none}.fxs-event-module-read-more svg{width:16px;height:16px}.fxs-event-module-read-more:hover span{text-decoration:underline}.fxs-event-module-release{margin:0;display:flex;flex-direction:column;gap:2px}.fxs-event-module-release>p{font-size:12.8px;font-family:Roboto;font-style:normal;line-height:17px;margin:0}.fxs-event-module-release>p>strong{color:#8c8d91;font-weight:700}.fxs-event-module-release>p>span{color:#8c8d91;font-weight:400}.fxs-event-module-release>p>a{color:#e4871b;font-weight:700;text-decoration:none}.fxs-event-module-release>p>a:hover>span{text-decoration:underline}.fxs-event-module-inner-calendar .fxs-event-module-container{margin:16px 0 0 0;border-top:1px solid #ececf1;padding:12px 0 0 0}@media (min-width:680px){.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:14.72px;line-height:20px}.fxs-event-module-release p{font-size:14.72px;line-height:20px}.fxs-event-module-read-more{font-size:14.72px;line-height:20px}.fxs-event-module-calendar-title{font-size:22.4px;line-height:25.6px}.fxs-event-module-title{font-size:19.2px;line-height:27.2px}.fxs-event-module-header{font-size:19.2px;line-height:25.92px}.fxs-event-module-content{font-size:16px;line-height:21.6px}}<\/style>\n<ul><li value=\"1\"><strong>NZD\/USD attracts some buyers on Wednesday as USD selloff counters dismal NZ jobs report.<\/strong><\/li><li value=\"2\"><strong>As US election results pour in, Iran diplomacy hopes, and sliding bond yields weigh on the USD.<\/strong><\/li><li value=\"3\"><strong>China\u2019s unimpressive Services PMI caps spot prices amid the divergent Fed-RBNZ expectations.<\/strong><\/li><\/ul><p>The NZD\/USD pair gains some positive traction during the Asian session on Wednesday as a broad-based US Dollar (USD) selloff counters New Zealand's disappointing employment details. Spot prices, for now, seem to have snapped a three-day losing streak to the 0.5580 region, touched in reaction to the Reserve Bank of New Zealand's (RBNZ) surprise on-hold rate decision last week, though the lack of follow-through buying warrants caution for bulls.<\/p><p>The USD Index (DXY), which tracks the Greenback against a basket of currencies, dives to an over one-month low as early US midterm vote counts pointed to rising chances of a Democratic victory. This raises the prospect of gridlock in Washington, driving safe-haven flows towards US Treasuries and dragging bond yields lower. Apart from this, hopes for Iran diplomacy turn out to be another factor undermining demand for the safe-haven buck, which, in turn, provides a goodish lift to the NZD\/USD pair.<\/p><p>Meanwhile, data released by Statistics New Zealand showed that the unemployment rate unexpectedly climbed to a fresh 11-year high of 5.7% in the third quarter of 2026. Additional details revealed that New Zealand\u2019s Employment Change arrived at -0.1% during the reported period, missing estimates for a reading of 0.4%, solidifying the RBNZ's dovish shift. Adding to this, China's Services PMI fell to 50.8 in October from 51.6 in the previous month, which caps the upside for the New Zealand Dollar (NZD).<\/p><p>Meanwhile, the US Job Openings and Labor Turnover Survey (JOLTS) showed on Tuesday that hiring held relatively steady in September. This reaffirms market bets that the US Federal Reserve (Fed) will raise borrowing costs in December amid inflation risks stemming from volatile energy prices. The divergent Fed-RBNZ policy expectations, in turn, hold back traders from placing aggressive bullish bets on the NZD\/USD pair, warranting some caution before positioning for any further appreciation move.<\/p><p>Traders now look to the US ADP report on private-sector employment and the ISM Services PMI for short-term impetus later during the North American session. The focus, however, will be on the closely watched US monthly employment data, popularly known as the Nonfarm Payrolls (NFP) report on Friday, which will play a key role in influencing USD price dynamics and drive the NZD\/USD pair. Nevertheless, the fundamental backdrop suggests that a subsequent move up is likely to be sold into.<\/p><div class=\"post-module\"><div id=\"content-module-event-20d41fe7-bc9a-4947-90d4-1f0f81777c81-97\" data-type=\"event\" data-module=\"event\" data-config-event-id=\"65e6efe8-5058-4f51-a061-a42ac5e93f36\" data-config-topic=\"20d41fe7-bc9a-4947-90d4-1f0f81777c81\" data-config-mode=\"Historical\" data-version=\"v1\" data-content-module-translate=\"0\" class=\"fxs-event-module-wrapper\">\n    <h2 class=\"fxs-event-module-title\">Economic Indicator<\/h2>\n    <div class=\"fxs-event-module-inner-calendar\">\n        <div class=\"fxs-event-module-calendar-title-description-wrapper\">\n            <h3 class=\"fxs-event-module-calendar-title\">RatingDog Services PMI<\/h3>\n            <p class=\"fxs-event-module-content\">The RatingDog Services Purchasing Managers Index (PMI), released on a monthly basis by Caixin Insight Group and S&amp;P Global, is a leading indicator gauging business activity in China\u2019s services sector. The data is derived from surveys of senior executives at both private-sector and state-owned companies. Survey responses reflect the change, if any, in the current month compared to the previous month and can anticipate changing trends in official data series such as Gross Domestic Product (GDP), industrial production, employment and inflation. The index varies between 0 and 100, with levels of 50.0 signaling no change over the previous month. A reading above 50 indicates that the services economy is generally expanding, a bullish sign for the Renminbi (CNY). Meanwhile, a reading below 50 signals that activity among service providers is generally declining, which is seen as bearish for CNY.<\/p>\n            \n                <svg width=\"1.3rem\" height=\"1.3rem\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"far\" data-icon=\"chart-bar\" class=\"fxs_icon fa-chart-bar fa-w-16\" role=\"img\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 512 512\">\n                    <path fill=\"currentColor\" d=\"M396.8 352h22.4c6.4 0 12.8-6.4 12.8-12.8V108.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v230.4c0 6.4 6.4 12.8 12.8 12.8zm-192 0h22.4c6.4 0 12.8-6.4 12.8-12.8V140.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v198.4c0 6.4 6.4 12.8 12.8 12.8zm96 0h22.4c6.4 0 12.8-6.4 12.8-12.8V204.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v134.4c0 6.4 6.4 12.8 12.8 12.8zM496 400H48V80c0-8.84-7.16-16-16-16H16C7.16 64 0 71.16 0 80v336c0 17.67 14.33 32 32 32h464c8.84 0 16-7.16 16-16v-16c0-8.84-7.16-16-16-16zm-387.2-48h22.4c6.4 0 12.8-6.4 12.8-12.8v-70.4c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v70.4c0 6.4 6.4 12.8 12.8 12.8z\">\n                    <\/path>\n                <\/svg>\n                <span>Read more.<\/span>\n            \n        <\/div>\n        <div class=\"fxs-event-module-release\">\n            <p>\n                <strong>Last release:<\/strong>\n                <span>Wed Nov 04, 2026 01:45 <\/span>\n            <\/p>\n            <p>\n                <strong>Frequency:<\/strong>\n                <span>Monthly<\/span>\n            <\/p>\n            <p>\n                <strong>Actual:<\/strong>\n                <span class=\"\">50.8<\/span>\n            <\/p>\n            <p>\n                <strong>Consensus:<\/strong>\n                <span>-<\/span>\n            <\/p>\n            <p>\n                <strong>Previous:<\/strong>\n                <span>51.6<\/span>\n            <\/p>\n            <p>\n                <strong>Source:<\/strong>\n                \n                    <span>IHS Markit<\/span>\n                    <svg width=\"13\" height=\"13\" viewbox=\"0 0 13 13\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n                        <path d=\"M12.1484 0.5C12.3359 0.5 12.5 0.664062 12.5 0.851562L12.4766 4.67188C12.4766 4.85938 12.3359 5 12.1484 5H11.375V5.02344C11.1875 5.02344 11.0234 4.85938 11.0234 4.67188L11.0938 2.9375L11.0469 2.89062L4.50781 9.42969C4.46094 9.47656 4.39062 9.52344 4.32031 9.52344C4.22656 9.52344 4.15625 9.47656 4.10938 9.42969L3.57031 8.89062C3.52344 8.84375 3.47656 8.77344 3.47656 8.67969C3.47656 8.60938 3.52344 8.53906 3.57031 8.49219L10.1094 1.95312L10.0625 1.90625L8.32812 1.97656C8.14062 1.97656 8 1.8125 8 1.625V0.851562C8 0.664062 8.14062 0.523438 8.32812 0.523438L12.1484 0.5ZM10.625 7.25C10.8125 7.25 11 7.4375 11 7.625V11.375C11 12.0078 10.4844 12.5 9.875 12.5H1.625C0.992188 12.5 0.5 12.0078 0.5 11.375V3.125C0.5 2.51562 0.992188 2 1.625 2H5.375C5.5625 2 5.75 2.1875 5.75 2.375V2.75C5.75 2.96094 5.5625 3.125 5.375 3.125H1.76562C1.67188 3.125 1.625 3.19531 1.625 3.26562V11.2344C1.625 11.3281 1.67188 11.375 1.76562 11.375H9.73438C9.80469 11.375 9.875 11.3281 9.875 11.2344V7.625C9.875 7.4375 10.0391 7.25 10.25 7.25H10.625Z\" fill=\"#E4871B\"><\/path>\n                    <\/svg>\n                \n            <\/p>\n        <\/div>\n    <\/div>\n<\/div><\/div>          <\/div>\n        <\/div>\n            <div class=\"latest-news__item js-news-item\">\n          <div class=\"latest-news__summary\">\n            <figure class=\"latest-news__thumb\">\n              <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/editorial.fxsstatic.com\/images\/i\/white-house-01_Large.jpg\" alt=\"\" width=\"270\" height=\"180\">\n            <\/figure>\n            <div class=\"latest-news__title-wrapper\">\n\t\t\t\t<div>\n              <div class=\"latest-news__date\">\n                <figure class=\"latest-news__date-icon\">\n                  <img decoding=\"async\" src=\"\/wp-content\/uploads\/ico_clock.svg\" alt=\"\">\n                <\/figure>\n                <span>Nov 04, 10:44 HKT<\/span>\n              <\/div>\n              <div class=\"latest-news__title\">US Midterm Elections: Democrats score early wins, weighing on US Dollar<\/div>\n\t\t\t\t\t\n\t\t\t\t<\/div>\n\t\t\t  <button class=\"latest-news__accordion-btn js-accordion\">\n\t\t\t\t<span>Read article<\/span>\n\t\t\t\t<span>Close<\/span>\n\t\t\t  <\/button>\n            <\/div>\n          <\/div>\n          <div class=\"latest-news__content is-en js-news-content\">\n            <style>.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a}\n.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:\"\";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}<\/style>\n<p>Americans voted in midterm elections on Tuesday, which will determine who controls Congress for the final two years of US President Donald Trump\u2019s term.<\/p><p>According to live data from the Decision Desk HQ, election results have been called in 201 of the 435 seats in the U.S. House of Representatives, with Democrats securing 124 seats and Republicans winning 77.<\/p><p>Democrats secured a major victory by capturing a Republican-held Senate seat in North Carolina while also showing surprising strength across several Republican-leaning House districts in Florida on Tuesday.<\/p><p>In North Carolina, former Democratic Governor Roy Cooper comfortably defeated Republican candidate Michael Whatley, who was endorsed by Donald Trump, winning a Senate seat previously held by Republicans, according to media projections.<\/p><p>Meanwhile, Democrat Jon Ossoff has won the US Senate race in Georgia, securing a second term and fending off a challenge from Trump-backed Mike Collins. Georgia remains a key battleground for Democrats as they seek to regain control of the Senate.<\/p><p>\"Given the Democrats are favoured right now, our expectation is that they will take control of both the House and the Senate,\" said Carol Kong, currency strategist at Commonwealth Bank of Australia. If that pans out, the US dollar could sell off further from here, because a Democratic sweep would limit government spending over Trump's term,\u201d Carol added.<\/p><h2 class=\"fxs_headline_from_medium_to_large\">Market reaction<\/h2><p>US Dollar Index (DXY) attracts some sellers ahead of US midterm election reseults. At the time of&nbsp;writing,&nbsp;the&nbsp;DXY&nbsp;is down 0.52% on the day at 101.32. Meanwhile, US Treasury yields fell across the curve, with the 2-year treasury yields dropped five basis points (bps) to 4.566%. Benchmark 10-year yields were down six bps to 4.90%.<\/p><div class=\"post-module\"><div id=\"content-module-currencyprices-USD-821\" data-type=\"currencyprices\" data-module=\"currencyprices\" data-config-topic=\"USD\" data-config-asset=\"USD\" data-config-criteria=\"Weakest\" data-config-period=\"Today\" data-config-currencies=\"USD,EUR,GBP,JPY,CAD,AUD,NZD,CHF\" data-config-quotes=\"1.11919:1.125195,1.34139:1.347155,1.198565:1.197245,0.0063:0.006346,0.005629:0.00564,0.004697:0.004711,0.7138:0.716185,0.6377:0.6365,0.532205:0.5316,113.309:112.8585,0.69647:0.69681,0.6222:0.61931,0.51922:0.51728,110.544:109.801,0.975585:0.972915,0.560985:0.56041,0.501195:0.498055,0.41818:0.416005,89.0295:88.3065,0.785735:0.782445,0.805393:0.804205,1.218146:1.228715,1.088418:1.091763,0.90806:0.912105,193.3405:193.6145,1.706275:1.715565,1.749001:1.763048,2.17173:2.19251\" data-version=\"v1\" data-content-module-translate=\"0\" class=\"fxs-major-currency-prices-wrapper\">\n    <h2 class=\"fxs-major-currency-prices-title\">US Dollar Price Today<\/h2>\n    <p class=\"fxs-major-currency-prices-content\">The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the Swiss Franc.<\/p>\n    <table class=\"fxs-major-currency-prices-currency-prices-table\" border=\"1\">\n        <thead>\n        <tr>\n            <th><\/th>\n                <th>USD<\/th>\n                <th>EUR<\/th>\n                <th>GBP<\/th>\n                <th>JPY<\/th>\n                <th>CAD<\/th>\n                <th>AUD<\/th>\n                <th>NZD<\/th>\n                <th>CHF<\/th>\n        <\/tr>\n        <\/thead>\n        <tbody>\n            <tr class=\"fxs-major-currency-prices-currency-price\">\n                <th>USD<\/th>\n                        <td><\/td>\n                        <td class=\"light-red\">-0.53%<\/td>\n                        <td class=\"light-red\">-0.43%<\/td>\n                        <td class=\"light-red\">-0.72%<\/td>\n                        <td class=\"light-red\">-0.33%<\/td>\n                        <td class=\"light-red\">-0.05%<\/td>\n                        <td class=\"light-green\">0.10%<\/td>\n                        <td class=\"strong-red\">-0.86%<\/td>\n            <\/tr>\n            <tr class=\"fxs-major-currency-prices-currency-price\">\n                <th>EUR<\/th>\n                        <td class=\"light-green\">0.53%<\/td>\n                        <td><\/td>\n                        <td class=\"light-green\">0.11%<\/td>\n                        <td class=\"light-red\">-0.20%<\/td>\n                        <td class=\"light-green\">0.19%<\/td>\n                        <td class=\"light-green\">0.47%<\/td>\n                        <td class=\"light-green\">0.63%<\/td>\n                        <td class=\"light-red\">-0.31%<\/td>\n            <\/tr>\n            <tr class=\"fxs-major-currency-prices-currency-price\">\n                <th>GBP<\/th>\n                        <td class=\"light-green\">0.43%<\/td>\n                        <td class=\"light-red\">-0.11%<\/td>\n                        <td><\/td>\n                        <td class=\"light-red\">-0.30%<\/td>\n                        <td class=\"light-green\">0.11%<\/td>\n                        <td class=\"light-green\">0.38%<\/td>\n                        <td class=\"light-green\">0.52%<\/td>\n                        <td class=\"light-red\">-0.44%<\/td>\n            <\/tr>\n            <tr class=\"fxs-major-currency-prices-currency-price\">\n                <th>JPY<\/th>\n                        <td class=\"light-green\">0.72%<\/td>\n                        <td class=\"light-green\">0.20%<\/td>\n                        <td class=\"light-green\">0.30%<\/td>\n                        <td><\/td>\n                        <td class=\"light-green\">0.40%<\/td>\n                        <td class=\"light-green\">0.68%<\/td>\n                        <td class=\"dark-green\">0.82%<\/td>\n                        <td class=\"light-red\">-0.14%<\/td>\n            <\/tr>\n            <tr class=\"fxs-major-currency-prices-currency-price\">\n                <th>CAD<\/th>\n                        <td class=\"light-green\">0.33%<\/td>\n                        <td class=\"light-red\">-0.19%<\/td>\n                        <td class=\"light-red\">-0.11%<\/td>\n                        <td class=\"light-red\">-0.40%<\/td>\n                        <td><\/td>\n                        <td class=\"light-green\">0.27%<\/td>\n                        <td class=\"light-green\">0.42%<\/td>\n                        <td class=\"light-red\">-0.54%<\/td>\n            <\/tr>\n            <tr class=\"fxs-major-currency-prices-currency-price\">\n                <th>AUD<\/th>\n                        <td class=\"light-green\">0.05%<\/td>\n                        <td class=\"light-red\">-0.47%<\/td>\n                        <td class=\"light-red\">-0.38%<\/td>\n                        <td class=\"light-red\">-0.68%<\/td>\n                        <td class=\"light-red\">-0.27%<\/td>\n                        <td><\/td>\n                        <td class=\"light-green\">0.15%<\/td>\n                        <td class=\"light-red\">-0.80%<\/td>\n            <\/tr>\n            <tr class=\"fxs-major-currency-prices-currency-price\">\n                <th>NZD<\/th>\n                        <td class=\"light-red\">-0.10%<\/td>\n                        <td class=\"light-red\">-0.63%<\/td>\n                        <td class=\"light-red\">-0.52%<\/td>\n                        <td class=\"strong-red\">-0.82%<\/td>\n                        <td class=\"light-red\">-0.42%<\/td>\n                        <td class=\"light-red\">-0.15%<\/td>\n                        <td><\/td>\n                        <td class=\"strong-red\">-0.95%<\/td>\n            <\/tr>\n            <tr class=\"fxs-major-currency-prices-currency-price\">\n                <th>CHF<\/th>\n                        <td class=\"dark-green\">0.86%<\/td>\n                        <td class=\"light-green\">0.31%<\/td>\n                        <td class=\"light-green\">0.44%<\/td>\n                        <td class=\"light-green\">0.14%<\/td>\n                        <td class=\"light-green\">0.54%<\/td>\n                        <td class=\"light-green\">0.80%<\/td>\n                        <td class=\"dark-green\">0.95%<\/td>\n                        <td><\/td>\n            <\/tr>\n        <\/tbody>\n    <\/table>\n    <p class=\"fxs-major-currency-prices-currency-prices-legend\">The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)\/JPY (quote).<\/p>\n<\/div><\/div><div class=\"post-module\"><div id=\"content-module-faq-Forex-US midterm elections-395\" data-type=\"faq\" data-module=\"faq\" data-config-topic=\"US midterm elections\" data-config-category=\"Forex\" data-version=\"v1\" data-content-module-translate=\"0\">\n    <div class=\"fxs-faq-module-wrapper\">\n        <h2 class=\"fxs-faq-module-title\">US midterm elections FAQs<\/h2>\n        <div class=\"fxs-faq-module-container\">\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-US midterm elections-395accordion0\" checked=\"checked\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-US midterm elections-395accordion0\">\n                            <span>What are the US midterm elections?\n<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">The US midterm elections are the federal elections held halfway through a president's four-year term. Voters choose all 435 members of the House of Representatives, about one-third of the Senate, and, in many states, governors and other state and local officials.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-US midterm elections-395accordion1\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-US midterm elections-395accordion1\">\n                            <span>When are the 2026 midterm elections?\n<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">Election Day is Tuesday, November 3, 2026. Federal law sets it as the Tuesday after the first Monday in November. Early voting and mail voting are already under way in many states.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-US midterm elections-395accordion2\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-US midterm elections-395accordion2\">\n                            <span>Why are the US midterm elections important?\n<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">They decide which party controls each chamber of Congress for the last two years of President Donald Trump's term. The majority party sets the legislative agenda, chooses committee leaders and, in the Senate, controls confirmations of judges and senior officials.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-US midterm elections-395accordion3\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-US midterm elections-395accordion3\">\n                            <span>Is the president on the ballot in the 2026 midterm elections?\n<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">No. The president is elected every four years; the next presidential election is in November 2028. Midterms are often seen as a referendum on the sitting president's party, which historically tends to lose House seats.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-US midterm elections-395accordion4\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-US midterm elections-395accordion4\">\n                            <span>How could the 2026 midterm elections affect the US dollar?\n<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">Most analysts expect a modest, short-lived reaction in the US Dollar rather than a lasting trend. A divided Congress is widely seen as the base case and is partly priced in. Treasury yields may react more noticeably to the results. Outcomes that raise expectations of fiscal stimulus tend to lift yields and the US Dollar, while gridlock that limits new spending can pull both lower. Political friction, such as funding or debt-ceiling standoffs, can also briefly lift the Dollar as a safe haven. Over six to twelve months, growth and Federal Reserve policy matter more than the vote.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-US midterm elections-395accordion5\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-US midterm elections-395accordion5\">\n                            <span>How do stocks usually perform around midterm elections?\n<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">US stocks have historically been weak before midterms and strong after them. Since 1950, the S&amp;P 500 has been higher 12 months after every midterm election, 19 out of 19, with an average gain of about 15%. Analysts link the pattern to uncertainty fading once results are known. Past performance does not guarantee future returns, and some strategists note that high valuations in 2026 could test the streak.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-US midterm elections-395accordion6\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-US midterm elections-395accordion6\">\n                            <span>Is a divided Congress good for markets?\n<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">Markets have often welcomed a divided government because gridlock makes sweeping changes to taxes, spending and regulation less likely. Under a Republican president, the S&amp;P 500 has historically done well in years following midterms that split control of Congress. The risks are funding deadlines, debt-ceiling fights and congressional investigations, which can add short-term volatility.<\/p>\n                <\/section>\n        <\/div>\n    <\/div>\n<\/div><\/div>          <\/div>\n        <\/div>\n            <div class=\"latest-news__item js-news-item\">\n          <div class=\"latest-news__summary\">\n            <figure class=\"latest-news__thumb\">\n              <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/editorial.fxsstatic.com\/images\/i\/LTC-bullish-object_Large.png\" alt=\"\" width=\"270\" height=\"180\">\n            <\/figure>\n            <div class=\"latest-news__title-wrapper\">\n\t\t\t\t<div>\n              <div class=\"latest-news__date\">\n                <figure class=\"latest-news__date-icon\">\n                  <img decoding=\"async\" src=\"\/wp-content\/uploads\/ico_clock.svg\" alt=\"\">\n                <\/figure>\n                <span>Nov 04, 10:28 HKT<\/span>\n              <\/div>\n              <div class=\"latest-news__title\">Australian Dollar holds gains following China's RatingDog Services PMI data<\/div>\n\t\t\t\t\t\n\t\t\t\t<\/div>\n\t\t\t  <button class=\"latest-news__accordion-btn js-accordion\">\n\t\t\t\t<span>Read article<\/span>\n\t\t\t\t<span>Close<\/span>\n\t\t\t  <\/button>\n            <\/div>\n          <\/div>\n          <div class=\"latest-news__content is-en js-news-content\">\n            <style>.fxs-event-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-event-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-event-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-event-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:12px}.fxs-event-module-section:last-child{border:none;margin-bottom:0}.fxs-event-module-header{color:#1b1c23;font-weight:700;font-size:16px;font-style:normal;line-height:20px;margin:0;padding:4px 0;background-color:#fff;border:none;position:relative;padding-right:32px}.fxs-event-module-header label{cursor:pointer;display:block}.fxs-event-module-header label:after,.fxs-event-module-header label:before{content:\"\";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-event-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-event-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]{display:none}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:after{transform:rotate(45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-event-module-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0;margin-top:8px}.fxs-event-module-content.why-matters{max-height:0;overflow:hidden;transition:all .3s ease-in-out}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-content.why-matters{max-height:1000px;margin-top:8px}.fxs-event-module-calendar-title{color:#1b1c23;font-size:17.6px;font-family:Roboto;font-style:normal;font-weight:700;line-height:20.8px;margin:4px 0 0 0}.fxs-event-module-calendar-title-description-wrapper{display:flex;flex-direction:column;gap:12px;border-bottom:1px solid #ececf1;padding-bottom:16px;margin-bottom:16px}.fxs-event-module-inner-calendar{padding:16px}.fxs-event-module-inner-calendar .fxs-event-module-section{padding:0}.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:12.8px;line-height:17px}.fxs-event-module-read-more{display:flex;align-items:center;align-content:center;gap:4px;color:#e4871b;font-size:12.8px;font-family:Roboto;font-style:normal;font-weight:700;line-height:17px;text-decoration:none}.fxs-event-module-read-more svg{width:16px;height:16px}.fxs-event-module-read-more:hover span{text-decoration:underline}.fxs-event-module-release{margin:0;display:flex;flex-direction:column;gap:2px}.fxs-event-module-release>p{font-size:12.8px;font-family:Roboto;font-style:normal;line-height:17px;margin:0}.fxs-event-module-release>p>strong{color:#8c8d91;font-weight:700}.fxs-event-module-release>p>span{color:#8c8d91;font-weight:400}.fxs-event-module-release>p>a{color:#e4871b;font-weight:700;text-decoration:none}.fxs-event-module-release>p>a:hover>span{text-decoration:underline}.fxs-event-module-inner-calendar .fxs-event-module-container{margin:16px 0 0 0;border-top:1px solid #ececf1;padding:12px 0 0 0}@media (min-width:680px){.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:14.72px;line-height:20px}.fxs-event-module-release p{font-size:14.72px;line-height:20px}.fxs-event-module-read-more{font-size:14.72px;line-height:20px}.fxs-event-module-calendar-title{font-size:22.4px;line-height:25.6px}.fxs-event-module-title{font-size:19.2px;line-height:27.2px}.fxs-event-module-header{font-size:19.2px;line-height:25.92px}.fxs-event-module-content{font-size:16px;line-height:21.6px}}<\/style>\n<ul><li value=\"1\"><strong>The Australian Dollar held ground despite China's RatingDog Services PMI falling slightly to 50.8 in October.<\/strong><\/li><li value=\"2\"><strong>Australia\u2019s domestic services and composite PMIs dropped below 50.0, signaling private-sector contraction.<\/strong><\/li><li value=\"3\"><strong>US election risks and stalled Iran peace negotiations create headwind risks despite the RBA rate hike.<\/strong><\/li><\/ul><p>AUD\/USD gains ground after two days of losses, trading around 0.6970 during Asian hours on Wednesday. The currency pair holds its recent gains as the Australian Dollar (AUD) remains stronger following economic data from China, Australia\u2019s key trading partner. China's RatingDog Services Purchasing Managers\u2019 Index (PMI) fell to 50.8 in October from 51.6 in September, reflecting a slight moderation in services expansion.<\/p><p>Australia\u2019s economic indicators pointed to a softening service sector and broader business activity. The S&amp;P Global Australia Services PMI dropped to 48.5 in October from 51.9 in September, hitting a seven-month low and dipping below the 50.0 neutral threshold for the first time since May, though it managed to top market forecasts of 47.8. Similarly, the S&amp;P Global Composite PMI fell to 48.2 from 51.3 in September, beating initial expectations of 47.7 yet signaling a renewed contraction across both manufacturing and service industries.<\/p><p>Despite current resilience, the AUD\/USD pair could encounter headwinds moving forward. Political uncertainty surrounding the upcoming US midterm elections and stalled peace talks with Iran continue to weigh on investor sentiment, overshadowing the Reserve Bank of Australia\u2019s (RBA) latest rate hike.<\/p><p>Market participants are closely watching the first exit polls to see if Democrats will capture the US House and Senate, as well as how US President Donald Trump will respond to the final election results.<\/p><h2 class=\"fxs_headline_from_medium_to_large\">Dollar mixed as G10 trading driven by idiosyncratic currency themes<\/h2><p>Strategists at Scotiabank observe that \"G10 currencies continue to trade in mixed fashion as market participants focus on individual currency developments rather than broader themes,\" highlighting a market backdrop where investors are increasingly attuned to currency-specific drivers rather than overarching macro narratives.<\/p><div class=\"post-module\"><div id=\"content-module-event-20d41fe7-bc9a-4947-90d4-1f0f81777c81-93\" data-type=\"event\" data-module=\"event\" data-config-event-id=\"65e6efe8-5058-4f51-a061-a42ac5e93f36\" data-config-topic=\"20d41fe7-bc9a-4947-90d4-1f0f81777c81\" data-config-mode=\"Historical\" data-version=\"v1\" data-content-module-translate=\"0\" class=\"fxs-event-module-wrapper\">\n    <h2 class=\"fxs-event-module-title\">Economic Indicator<\/h2>\n    <div class=\"fxs-event-module-inner-calendar\">\n        <div class=\"fxs-event-module-calendar-title-description-wrapper\">\n            <h3 class=\"fxs-event-module-calendar-title\">RatingDog Services PMI<\/h3>\n            <p class=\"fxs-event-module-content\">The RatingDog Services Purchasing Managers Index (PMI), released on a monthly basis by Caixin Insight Group and S&amp;P Global, is a leading indicator gauging business activity in China\u2019s services sector. The data is derived from surveys of senior executives at both private-sector and state-owned companies. Survey responses reflect the change, if any, in the current month compared to the previous month and can anticipate changing trends in official data series such as Gross Domestic Product (GDP), industrial production, employment and inflation. The index varies between 0 and 100, with levels of 50.0 signaling no change over the previous month. A reading above 50 indicates that the services economy is generally expanding, a bullish sign for the Renminbi (CNY). Meanwhile, a reading below 50 signals that activity among service providers is generally declining, which is seen as bearish for CNY.<\/p>\n            \n                <svg width=\"1.3rem\" height=\"1.3rem\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"far\" data-icon=\"chart-bar\" class=\"fxs_icon fa-chart-bar fa-w-16\" role=\"img\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 512 512\">\n                    <path fill=\"currentColor\" d=\"M396.8 352h22.4c6.4 0 12.8-6.4 12.8-12.8V108.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v230.4c0 6.4 6.4 12.8 12.8 12.8zm-192 0h22.4c6.4 0 12.8-6.4 12.8-12.8V140.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v198.4c0 6.4 6.4 12.8 12.8 12.8zm96 0h22.4c6.4 0 12.8-6.4 12.8-12.8V204.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v134.4c0 6.4 6.4 12.8 12.8 12.8zM496 400H48V80c0-8.84-7.16-16-16-16H16C7.16 64 0 71.16 0 80v336c0 17.67 14.33 32 32 32h464c8.84 0 16-7.16 16-16v-16c0-8.84-7.16-16-16-16zm-387.2-48h22.4c6.4 0 12.8-6.4 12.8-12.8v-70.4c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v70.4c0 6.4 6.4 12.8 12.8 12.8z\">\n                    <\/path>\n                <\/svg>\n                <span>Read more.<\/span>\n            \n        <\/div>\n        <div class=\"fxs-event-module-release\">\n            <p>\n                <strong>Last release:<\/strong>\n                <span>Wed Nov 04, 2026 01:45 <\/span>\n            <\/p>\n            <p>\n                <strong>Frequency:<\/strong>\n                <span>Monthly<\/span>\n            <\/p>\n            <p>\n                <strong>Actual:<\/strong>\n                <span class=\"\">50.8<\/span>\n            <\/p>\n            <p>\n                <strong>Consensus:<\/strong>\n                <span>-<\/span>\n            <\/p>\n            <p>\n                <strong>Previous:<\/strong>\n                <span>51.6<\/span>\n            <\/p>\n            <p>\n                <strong>Source:<\/strong>\n                \n                    <span>IHS Markit<\/span>\n                    <svg width=\"13\" height=\"13\" viewbox=\"0 0 13 13\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n                        <path d=\"M12.1484 0.5C12.3359 0.5 12.5 0.664062 12.5 0.851562L12.4766 4.67188C12.4766 4.85938 12.3359 5 12.1484 5H11.375V5.02344C11.1875 5.02344 11.0234 4.85938 11.0234 4.67188L11.0938 2.9375L11.0469 2.89062L4.50781 9.42969C4.46094 9.47656 4.39062 9.52344 4.32031 9.52344C4.22656 9.52344 4.15625 9.47656 4.10938 9.42969L3.57031 8.89062C3.52344 8.84375 3.47656 8.77344 3.47656 8.67969C3.47656 8.60938 3.52344 8.53906 3.57031 8.49219L10.1094 1.95312L10.0625 1.90625L8.32812 1.97656C8.14062 1.97656 8 1.8125 8 1.625V0.851562C8 0.664062 8.14062 0.523438 8.32812 0.523438L12.1484 0.5ZM10.625 7.25C10.8125 7.25 11 7.4375 11 7.625V11.375C11 12.0078 10.4844 12.5 9.875 12.5H1.625C0.992188 12.5 0.5 12.0078 0.5 11.375V3.125C0.5 2.51562 0.992188 2 1.625 2H5.375C5.5625 2 5.75 2.1875 5.75 2.375V2.75C5.75 2.96094 5.5625 3.125 5.375 3.125H1.76562C1.67188 3.125 1.625 3.19531 1.625 3.26562V11.2344C1.625 11.3281 1.67188 11.375 1.76562 11.375H9.73438C9.80469 11.375 9.875 11.3281 9.875 11.2344V7.625C9.875 7.4375 10.0391 7.25 10.25 7.25H10.625Z\" fill=\"#E4871B\"><\/path>\n                    <\/svg>\n                \n            <\/p>\n        <\/div>\n    <\/div>\n<\/div><\/div>          <\/div>\n        <\/div>\n            <div class=\"latest-news__item js-news-item\">\n          <div class=\"latest-news__summary\">\n            <figure class=\"latest-news__thumb\">\n              <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/editorial.fxsstatic.com\/images\/i\/discover-97_Large.png\" alt=\"\" width=\"270\" height=\"180\">\n            <\/figure>\n            <div class=\"latest-news__title-wrapper\">\n\t\t\t\t<div>\n              <div class=\"latest-news__date\">\n                <figure class=\"latest-news__date-icon\">\n                  <img decoding=\"async\" src=\"\/wp-content\/uploads\/ico_clock.svg\" alt=\"\">\n                <\/figure>\n                <span>Nov 04, 10:02 HKT<\/span>\n              <\/div>\n              <div class=\"latest-news__title\">British Pound rallies to September 16 highs as USD slumps on election results<\/div>\n\t\t\t\t\t\n\t\t\t\t<\/div>\n\t\t\t  <button class=\"latest-news__accordion-btn js-accordion\">\n\t\t\t\t<span>Read article<\/span>\n\t\t\t\t<span>Close<\/span>\n\t\t\t  <\/button>\n            <\/div>\n          <\/div>\n          <div class=\"latest-news__content is-en js-news-content\">\n            <style>.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a}<\/style>\n<ul><li value=\"1\"><strong>GBP\/USD gains strong positive traction on Wednesday amid a broad-based USD selloff.<\/strong><\/li><li value=\"2\"><strong>Hopes for Iran diplomacy and declining US bond yields drag the USD to a one-month low.<\/strong><\/li><li value=\"3\"><strong>BoE rate hike bets underpin the GBP and contribute to the strong positive momentum.<\/strong><\/li><\/ul><p>The GBP\/USD pair catches aggressive bids during the Asian session on Wednesday, rallying beyond mid-1.3400s and hitting a fresh high since September 16 in the last hour amid a broadly weaker US Dollar (USD).<\/p><p>In fact, the USD Index (DXY), which tracks the Greenback against a basket of currencies, dives to an over one-month low as early US midterm vote counts pointed to rising chances of a Democratic victory. This raises the prospect of gridlock in Washington, driving safe-haven flows towards US Treasuries and dragging bond yields lower. Apart from this, hopes for Iran diplomacy turn out to be another factor undermining demand for the safe-haven buck, which, in turn, provides a strong boost to the GBP\/USD pair.<\/p><p>President Donald Trump told the Financial Times on Tuesday that the US has no immediate plans to strike Iran, fueling optimism over a potential diplomatic resolution to end the US-Iran war and prompting traders to price out the geopolitical risk premium. The British Pound (GBP), on the other hand, continues with its relative outperformance amid easing fiscal concerns following the recent UK budget updates and firming bets that the Bank of England (BoE) will hike interest rates at its policy meeting on Thursday.<\/p><p>Meanwhile, the Labor Department\u2019s monthly Job Openings and Labor Turnover Survey (JOLTS) showed that hiring held relatively steady and job openings rose more than expected in September to 7.5 million from 7.2 million. This comes on top of inflation risks due to elevated energy prices and underpins prospects for further policy tightening by the Federal Reserve (Fed). This, however, fails to provide any respite to USD bulls, suggesting that the path of least resistance for the GBP\/USD pair is to the upside.<\/p><p>Moving ahead, traders now look to the US ADP report on private-sector employment and the ISM Services PMI for short-term impetuses later during the North American session. The focus, however, will be on the BoE policy update on Thursday and the closely watched US monthly employment details, popularly known as the Nonfarm Payrolls (NFP) report on Friday. Nevertheless, the supportive fundamental backdrop suggests that any corrective pullback in the GBP\/USD pair is more likely to be bought into.<\/p><h2 class=\"fxs_headline_from_medium_to_large\">GBP\/USD daily chart<\/h2><img decoding=\"async\" src=\"https:\/\/editorial.fxsstatic.com\/miscelaneous\/chart-analysis-1793756835435\" alt=\"Chart Analysis GBP\/USD\" loading=\"lazy\"><h2 class=\"fxs_headline_from_medium_to_large\">Technical Analysis<\/h2><p>The GBP\/USD pair maintains a bullish near-term bias following an intraday breakout above the 200-day Simple Moving Average (SMA) at 1.3424. Moreover, spot prices hover marginally above the 61.8% Fibonacci retracement at 1.3467, suggesting that buyers are defending this pivot area after reclaiming the mid-range of the recent downswing.<\/p><p>Further up, resistance is located at the 78.6% Fibo. retracement at 1.3556 ahead of the recent cycle high at 1.3670. On the downside, immediate supports are pegged near the 200-day SMA at 1.3424 and the 50.0% retracement at 1.3404, while deeper demand emerges at the 38.2% level at 1.3341 and the 23.6% retracement at 1.3264 ahead of the structural floor near 1.3138. <\/p><p><em>(The technical analysis of this story was written with the help of an AI tool. <\/em><em>Know more.<\/em><em>)<\/em><\/p><div class=\"post-module\"><div id=\"content-module-currencyprices-USD-330\" data-type=\"currencyprices\" data-module=\"currencyprices\" data-config-topic=\"USD\" data-config-asset=\"USD\" data-config-criteria=\"Strongest\" data-config-period=\"Today\" data-config-currencies=\"USD,EUR,GBP,JPY,CAD,AUD,NZD,CHF\" data-config-quotes=\"1.11919:1.124015,1.34139:1.34642,1.198565:1.197815,0.0063:0.006343,0.005629:0.005643,0.004697:0.004711,0.7138:0.715945,0.6377:0.636985,0.532205:0.531785,113.309:112.867,0.69647:0.69729,0.6222:0.62037,0.51922:0.51792,110.544:109.921,0.975585:0.97389,0.560985:0.560385,0.501195:0.498585,0.41818:0.416235,89.0295:88.34,0.785735:0.78267,0.805393:0.803635,1.218146:1.226902,1.088418:1.091554,0.90806:0.911285,193.3405:193.416,1.706275:1.713655,1.749001:1.759572,2.17173:2.189465\" data-version=\"v1\" data-content-module-translate=\"0\" class=\"fxs-major-currency-prices-wrapper\">\n    <h2 class=\"fxs-major-currency-prices-title\">US Dollar Price Today<\/h2>\n    <p class=\"fxs-major-currency-prices-content\">The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar.<\/p>\n    <table class=\"fxs-major-currency-prices-currency-prices-table\" border=\"1\">\n        <thead>\n        <tr>\n            <th><\/th>\n                <th>USD<\/th>\n                <th>EUR<\/th>\n                <th>GBP<\/th>\n                <th>JPY<\/th>\n                <th>CAD<\/th>\n                <th>AUD<\/th>\n                <th>NZD<\/th>\n                <th>CHF<\/th>\n        <\/tr>\n        <\/thead>\n        <tbody>\n            <tr class=\"fxs-major-currency-prices-currency-price\">\n                <th>USD<\/th>\n                        <td><\/td>\n                        <td class=\"light-red\">-0.43%<\/td>\n                        <td class=\"light-red\">-0.37%<\/td>\n                        <td class=\"light-red\">-0.68%<\/td>\n                        <td class=\"light-red\">-0.30%<\/td>\n                        <td class=\"light-red\">-0.12%<\/td>\n                        <td class=\"light-green\">0.11%<\/td>\n                        <td class=\"light-red\">-0.71%<\/td>\n            <\/tr>\n            <tr class=\"fxs-major-currency-prices-currency-price\">\n                <th>EUR<\/th>\n                        <td class=\"light-green\">0.43%<\/td>\n                        <td><\/td>\n                        <td class=\"light-green\">0.06%<\/td>\n                        <td class=\"light-red\">-0.25%<\/td>\n                        <td class=\"light-green\">0.11%<\/td>\n                        <td class=\"light-green\">0.29%<\/td>\n                        <td class=\"light-green\">0.52%<\/td>\n                        <td class=\"light-red\">-0.29%<\/td>\n            <\/tr>\n            <tr class=\"fxs-major-currency-prices-currency-price\">\n                <th>GBP<\/th>\n                        <td class=\"light-green\">0.37%<\/td>\n                        <td class=\"light-red\">-0.06%<\/td>\n                        <td><\/td>\n                        <td class=\"light-red\">-0.30%<\/td>\n                        <td class=\"light-green\">0.08%<\/td>\n                        <td class=\"light-green\">0.25%<\/td>\n                        <td class=\"light-green\">0.47%<\/td>\n                        <td class=\"light-red\">-0.35%<\/td>\n            <\/tr>\n            <tr class=\"fxs-major-currency-prices-currency-price\">\n                <th>JPY<\/th>\n                        <td class=\"light-green\">0.68%<\/td>\n                        <td class=\"light-green\">0.25%<\/td>\n                        <td class=\"light-green\">0.30%<\/td>\n                        <td><\/td>\n                        <td class=\"light-green\">0.39%<\/td>\n                        <td class=\"light-green\">0.57%<\/td>\n                        <td class=\"light-green\">0.78%<\/td>\n                        <td class=\"light-red\">-0.04%<\/td>\n            <\/tr>\n            <tr class=\"fxs-major-currency-prices-currency-price\">\n                <th>CAD<\/th>\n                        <td class=\"light-green\">0.30%<\/td>\n                        <td class=\"light-red\">-0.11%<\/td>\n                        <td class=\"light-red\">-0.08%<\/td>\n                        <td class=\"light-red\">-0.39%<\/td>\n                        <td><\/td>\n                        <td class=\"light-green\">0.17%<\/td>\n                        <td class=\"light-green\">0.39%<\/td>\n                        <td class=\"light-red\">-0.43%<\/td>\n            <\/tr>\n            <tr class=\"fxs-major-currency-prices-currency-price\">\n                <th>AUD<\/th>\n                        <td class=\"light-green\">0.12%<\/td>\n                        <td class=\"light-red\">-0.29%<\/td>\n                        <td class=\"light-red\">-0.25%<\/td>\n                        <td class=\"light-red\">-0.57%<\/td>\n                        <td class=\"light-red\">-0.17%<\/td>\n                        <td><\/td>\n                        <td class=\"light-green\">0.22%<\/td>\n                        <td class=\"light-red\">-0.60%<\/td>\n            <\/tr>\n            <tr class=\"fxs-major-currency-prices-currency-price\">\n                <th>NZD<\/th>\n                        <td class=\"light-red\">-0.11%<\/td>\n                        <td class=\"light-red\">-0.52%<\/td>\n                        <td class=\"light-red\">-0.47%<\/td>\n                        <td class=\"light-red\">-0.78%<\/td>\n                        <td class=\"light-red\">-0.39%<\/td>\n                        <td class=\"light-red\">-0.22%<\/td>\n                        <td><\/td>\n                        <td class=\"strong-red\">-0.81%<\/td>\n            <\/tr>\n            <tr class=\"fxs-major-currency-prices-currency-price\">\n                <th>CHF<\/th>\n                        <td class=\"light-green\">0.71%<\/td>\n                        <td class=\"light-green\">0.29%<\/td>\n                        <td class=\"light-green\">0.35%<\/td>\n                        <td class=\"light-green\">0.04%<\/td>\n                        <td class=\"light-green\">0.43%<\/td>\n                        <td class=\"light-green\">0.60%<\/td>\n                        <td class=\"dark-green\">0.81%<\/td>\n                        <td><\/td>\n            <\/tr>\n        <\/tbody>\n    <\/table>\n    <p class=\"fxs-major-currency-prices-currency-prices-legend\">The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)\/JPY (quote).<\/p>\n<\/div><\/div>          <\/div>\n        <\/div>\n            <div class=\"latest-news__item js-news-item\">\n          <div class=\"latest-news__summary\">\n            <figure class=\"latest-news__thumb\">\n              <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/editorial.fxsstatic.com\/images\/i\/china_Large.png\" alt=\"\" width=\"270\" height=\"180\">\n            <\/figure>\n            <div class=\"latest-news__title-wrapper\">\n\t\t\t\t<div>\n              <div class=\"latest-news__date\">\n                <figure class=\"latest-news__date-icon\">\n                  <img decoding=\"async\" src=\"\/wp-content\/uploads\/ico_clock.svg\" alt=\"\">\n                <\/figure>\n                <span>Nov 04, 09:48 HKT<\/span>\n              <\/div>\n              <div class=\"latest-news__title\">China\u2019s RatingDog Services PMI eases to 50.8 in October<\/div>\n\t\t\t\t\t\n\t\t\t\t<\/div>\n\t\t\t  <button class=\"latest-news__accordion-btn js-accordion\">\n\t\t\t\t<span>Read article<\/span>\n\t\t\t\t<span>Close<\/span>\n\t\t\t  <\/button>\n            <\/div>\n          <\/div>\n          <div class=\"latest-news__content is-en js-news-content\">\n            <style>.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:\"\";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}<\/style>\n<p>China's Services Purchasing Managers' Index (PMI) declines to 50.8 in October from 51.6 in September, the latest data published by RatingDog showed on Wednesday.&nbsp;<\/p><h2 class=\"fxs_headline_from_medium_to_large\">Market reaction&nbsp;<\/h2><p>The China-proxy Australian Dollar remains firm following the weaker China\u2019s RatingDog Services PMI report. At the time of&nbsp;writing,&nbsp;the&nbsp;AUD\/USD&nbsp;pair&nbsp;is up 0.15% on the day at 0.6975.<\/p><div class=\"post-module\"><div id=\"content-module-faq-Forex-aud-29\" data-type=\"faq\" data-module=\"faq\" data-config-topic=\"aud\" data-config-category=\"Forex\" data-version=\"v1\" data-content-module-translate=\"0\">\n    <div class=\"fxs-faq-module-wrapper\">\n        <h2 class=\"fxs-faq-module-title\">Australian Dollar FAQs<\/h2>\n        <div class=\"fxs-faq-module-container\">\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-aud-29accordion0\" checked=\"checked\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-aud-29accordion0\">\n                            <span>What key factors drive the Australian Dollar?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment \u2013 whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) \u2013 is also a factor, with risk-on positive for AUD. <\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-aud-29accordion1\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-aud-29accordion1\">\n                            <span>How do the decisions of the Reserve Bank of Australia impact the Australian Dollar?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive. <\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-aud-29accordion2\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-aud-29accordion2\">\n                            <span>How does the health of the Chinese Economy impact the Australian Dollar?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">China is Australia\u2019s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs. <\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-aud-29accordion3\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-aud-29accordion3\">\n                            <span>How does the price of Iron Ore impact the Australian Dollar?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">Iron Ore is Australia\u2019s largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD. <\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-aud-29accordion4\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-aud-29accordion4\">\n                            <span>How does the Trade Balance impact the Australian Dollar? <\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.<\/p>\n                <\/section>\n        <\/div>\n    <\/div>\n<\/div><\/div>          <\/div>\n        <\/div>\n            <div class=\"latest-news__item js-news-item\">\n          <div class=\"latest-news__summary\">\n            <figure class=\"latest-news__thumb\">\n              <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/editorial.fxsstatic.com\/images\/i\/Breaking-news_Large.png\" alt=\"\" width=\"270\" height=\"180\">\n            <\/figure>\n            <div class=\"latest-news__title-wrapper\">\n\t\t\t\t<div>\n              <div class=\"latest-news__date\">\n                <figure class=\"latest-news__date-icon\">\n                  <img decoding=\"async\" src=\"\/wp-content\/uploads\/ico_clock.svg\" alt=\"\">\n                <\/figure>\n                <span>Nov 04, 09:46 HKT<\/span>\n              <\/div>\n              <div class=\"latest-news__title\">Breaking: US Dollar falls below 101.50 as early midterm results point to Democratic gains<\/div>\n\t\t\t\t\t\n\t\t\t\t<\/div>\n\t\t\t  <button class=\"latest-news__accordion-btn js-accordion\">\n\t\t\t\t<span>Read article<\/span>\n\t\t\t\t<span>Close<\/span>\n\t\t\t  <\/button>\n            <\/div>\n          <\/div>\n          <div class=\"latest-news__content is-en js-news-content\">\n            <style>.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:\"\";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}<\/style>\n<ul><li value=\"1\"><strong>US Dollar Index tumbles to around 101.25 in Wednesday\u2019s early Asian session.<\/strong><\/li><li value=\"2\"><strong>Americans voted in midterm elections on Tuesday, which will determine who controls Congress for the final two years of Trump\u2019s term.<\/strong><\/li><\/ul><p>US Dollar Index (DXY) faces some selling pressure near 101.30 during the early Asian session on Wednesday. Traders will closely monitor the US midterm election outcomes later in the day for fresh impetus.<\/p><p>Yields fell across the curve, with the 2-year treasury yields dropped five basis points (bps) to 4.566%. Benchmark 10-year yields were down six bps to 4.90%.<\/p><p>Americans are voting in midterm elections that will deliver a verdict on President Donald Trump's second term. Polls have closed in some early states. According to live data from the Decision Desk HQ, election results have been called in 201 of the 435 seats in the U.S. House of Representatives, with Democrats securing 124 seats and Republicans winning 77.<\/p><p>Meanwhile, Democrat Jon Ossoff has won the US Senate race in Georgia, securing a second term and fending off a challenge from Trump-backed Mike Collins. The state is crucial for Democrats to retain as part of their quest to reclaim control of the Senate.<\/p><p>\u201cEarly headlines and prediction markets are suggesting a rising probability of a blue wave,\u201d said Andrew Ticehurst, a senior rates strategist at Nomura Holdings Inc. in Sydney. \u201cThat scenario is generally regarded as being negative for the dollar and positive for US Treasuries. Markets are reacting consistently with that in early Asia trading.\u201d<\/p><div class=\"post-module\"><div id=\"content-module-faq-Forex-US midterm elections-827\" data-type=\"faq\" data-module=\"faq\" data-config-topic=\"US midterm elections\" data-config-category=\"Forex\" data-version=\"v1\" data-content-module-translate=\"0\">\n    <div class=\"fxs-faq-module-wrapper\">\n        <h2 class=\"fxs-faq-module-title\">US midterm elections FAQs<\/h2>\n        <div class=\"fxs-faq-module-container\">\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-US midterm elections-827accordion0\" checked=\"checked\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-US midterm elections-827accordion0\">\n                            <span>What are the US midterm elections?\n<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">The US midterm elections are the federal elections held halfway through a president's four-year term. Voters choose all 435 members of the House of Representatives, about one-third of the Senate, and, in many states, governors and other state and local officials.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-US midterm elections-827accordion1\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-US midterm elections-827accordion1\">\n                            <span>When are the 2026 midterm elections?\n<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">Election Day is Tuesday, November 3, 2026. Federal law sets it as the Tuesday after the first Monday in November. Early voting and mail voting are already under way in many states.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-US midterm elections-827accordion2\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-US midterm elections-827accordion2\">\n                            <span>Why are the US midterm elections important?\n<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">They decide which party controls each chamber of Congress for the last two years of President Donald Trump's term. The majority party sets the legislative agenda, chooses committee leaders and, in the Senate, controls confirmations of judges and senior officials.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-US midterm elections-827accordion3\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-US midterm elections-827accordion3\">\n                            <span>Is the president on the ballot in the 2026 midterm elections?\n<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">No. The president is elected every four years; the next presidential election is in November 2028. Midterms are often seen as a referendum on the sitting president's party, which historically tends to lose House seats.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-US midterm elections-827accordion4\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-US midterm elections-827accordion4\">\n                            <span>How could the 2026 midterm elections affect the US dollar?\n<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">Most analysts expect a modest, short-lived reaction in the US Dollar rather than a lasting trend. A divided Congress is widely seen as the base case and is partly priced in. Treasury yields may react more noticeably to the results. Outcomes that raise expectations of fiscal stimulus tend to lift yields and the US Dollar, while gridlock that limits new spending can pull both lower. Political friction, such as funding or debt-ceiling standoffs, can also briefly lift the Dollar as a safe haven. Over six to twelve months, growth and Federal Reserve policy matter more than the vote.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-US midterm elections-827accordion5\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-US midterm elections-827accordion5\">\n                            <span>How do stocks usually perform around midterm elections?\n<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">US stocks have historically been weak before midterms and strong after them. Since 1950, the S&amp;P 500 has been higher 12 months after every midterm election, 19 out of 19, with an average gain of about 15%. Analysts link the pattern to uncertainty fading once results are known. Past performance does not guarantee future returns, and some strategists note that high valuations in 2026 could test the streak.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-US midterm elections-827accordion6\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-US midterm elections-827accordion6\">\n                            <span>Is a divided Congress good for markets?\n<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">Markets have often welcomed a divided government because gridlock makes sweeping changes to taxes, spending and regulation less likely. Under a Republican president, the S&amp;P 500 has historically done well in years following midterms that split control of Congress. The risks are funding deadlines, debt-ceiling fights and congressional investigations, which can add short-term volatility.<\/p>\n                <\/section>\n        <\/div>\n    <\/div>\n<\/div><\/div>          <\/div>\n        <\/div>\n            <div class=\"latest-news__item js-news-item\">\n          <div class=\"latest-news__summary\">\n            <figure class=\"latest-news__thumb\">\n              <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/editorial.fxsstatic.com\/images\/i\/USDCNY_Large.png\" alt=\"\" width=\"270\" height=\"180\">\n            <\/figure>\n            <div class=\"latest-news__title-wrapper\">\n\t\t\t\t<div>\n              <div class=\"latest-news__date\">\n                <figure class=\"latest-news__date-icon\">\n                  <img decoding=\"async\" src=\"\/wp-content\/uploads\/ico_clock.svg\" alt=\"\">\n                <\/figure>\n                <span>Nov 04, 09:32 HKT<\/span>\n              <\/div>\n              <div class=\"latest-news__title\">Japanese Yen recovers from three-week low as intervention risks meet broadly weaker USD<\/div>\n\t\t\t\t\t\n\t\t\t\t<\/div>\n\t\t\t  <button class=\"latest-news__accordion-btn js-accordion\">\n\t\t\t\t<span>Read article<\/span>\n\t\t\t\t<span>Close<\/span>\n\t\t\t  <\/button>\n            <\/div>\n          <\/div>\n          <div class=\"latest-news__content is-en js-news-content\">\n            <style>.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:\"\";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}<\/style>\n<ul><li value=\"1\"><strong>USD\/JPY drifts lower during the Asian session on Wednesday amid a combination of negative factors.<\/strong><\/li><li value=\"2\"><strong>Intervention risks prompt some JPY short-covering and weigh on spot prices amid fresh USD selling.<\/strong><\/li><li value=\"3\"><strong>Hopes for Iran diplomacy and sliding US bond yields weigh on the USD ahead of US election results.<\/strong><\/li><\/ul><p>The USD\/JPY pair attracts some sellers during the Asian session on Wednesday, snapping a two-day winning streak to hit a near three-week top the previous day amid a combination of factors. Spot prices currently trade just below mid-158.00s, down around 0.20% for the day, as traders brace for some volatility stemming from US midterm election results.<\/p><p>Traders remain on high alert amid speculation that Japanese authorities will step in again to prop up the Japanese Yen (JPY), which, along with a weaker US Dollar (USD), exerts some downward pressure on the USD\/JPY pair. Japan's Finance Minister Satsuki Katayama said on Monday that the joint FX statement with the US persists and that the government is prepared to act to curb excessive or disorderly weakness in the JPY.<\/p><p>Meanwhile, the optimism over a potential diplomatic resolution to end the US-Iran war undermines the safe-haven Greenback and contributes to the USD\/JPY pair's offered tone. In fact, President Donald Trump told the Financial Times on Tuesday that the US has \u200bno immediate \u200cplans to strike Iran and we seem to be \u200bgetting \u200beverything we want, prompting traders to price out the geopolitical risk premium and weighing on the USD.<\/p><p>Moreover, US government bond yields ease back down as investors monitor early midterm election results amid prospects of Republicans losing their majority in the House of Representatives and possibly in the Senate as well. This further keeps USD bulls on the defensive, though firming hawkish US Federal Reserve (Fed) expectations, bolstered by Tuesday's upbeat US labor market data, could limit deeper losses.<\/p><p>The Labor Department\u2019s monthly Job Openings and Labor Turnover Survey (JOLTS) showed that hiring held relatively steady and job openings rose more than expected in September to 7.5 million from 7.2 million. Adding to this, energy-driven inflation risks back the case for further Fed policy tightening, which warrants some caution before positioning for a further depreciating move for the USD and the USD\/JPY pair.<\/p><p>Apart from this, the persistently wide interest rate differential between the US and Japan might cap the lower-yielding JPY, making it prudent to wait for strong follow-through selling before confirming that spot prices have topped out in the near-term. Moving ahead, traders now look to the US ADP report on private-sector employment and the ISM Services PMI for short-term impetus later during the North American session.<\/p><h2 class=\"fxs_headline_from_medium_to_large\">USD\/JPY daily chart<\/h2><img decoding=\"async\" src=\"https:\/\/editorial.fxsstatic.com\/miscelaneous\/chart-analysis-1793755513953\" alt=\"Chart Analysis USD\/JPY\" loading=\"lazy\"><h2 class=\"fxs_headline_from_medium_to_large\">Technical Analysis<\/h2><p>The USD\/JPY pair holds below the 100-day Simple Moving Average (SMA) at 159.15 and the 61.8% Fibonacci retracement at 159.75, which keeps the near-term bias capped and mildly bearish. Price is hovering just under the 50.0% retracement at 158.45, suggesting a pivotal barrier overhead that needs to be reclaimed for any sustainable recovery toward the upper Fibonacci band.<\/p><p>On the downside, initial support emerges at the 38.2% retracement at 157.16, ahead of deeper Fibonacci floors at 155.56 and the structural cycle low near 152.97, where stronger demand could be expected if selling pressure resumes.<\/p><p><em>(The technical analysis of this story was written with the help of an AI tool. <\/em><em>Know more.<\/em><em>)<\/em><\/p><div class=\"post-module\"><div id=\"content-module-faq-Forex-jpy-316\" data-type=\"faq\" data-module=\"faq\" data-config-topic=\"jpy\" data-config-category=\"Forex\" data-version=\"v1\" data-content-module-translate=\"0\">\n    <div class=\"fxs-faq-module-wrapper\">\n        <h2 class=\"fxs-faq-module-title\">Japanese Yen FAQs<\/h2>\n        <div class=\"fxs-faq-module-container\">\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-jpy-316accordion0\" checked=\"checked\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-jpy-316accordion0\">\n                            <span>What key factors drive the Japanese Yen?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">The Japanese Yen (JPY) is one of the world\u2019s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan\u2019s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-jpy-316accordion1\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-jpy-316accordion1\">\n                            <span>How do the decisions of the Bank of Japan impact the Japanese Yen?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">One of the Bank of Japan\u2019s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen.\n<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-jpy-316accordion2\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-jpy-316accordion2\">\n                            <span>How does the differential between Japanese and US bond yields impact the Japanese Yen?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">Over the last decade, the BoJ\u2019s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-jpy-316accordion3\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-jpy-316accordion3\">\n                            <span>How does broader risk sentiment impact the Japanese Yen?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen\u2019s value against other currencies seen as more risky to invest in.<\/p>\n                <\/section>\n        <\/div>\n    <\/div>\n<\/div><\/div>          <\/div>\n        <\/div>\n            <div class=\"latest-news__item js-news-item\">\n          <div class=\"latest-news__summary\">\n            <figure class=\"latest-news__thumb\">\n              <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/editorial.fxsstatic.com\/images\/i\/EUR-bullish-chart_Large.png\" alt=\"\" width=\"270\" height=\"180\">\n            <\/figure>\n            <div class=\"latest-news__title-wrapper\">\n\t\t\t\t<div>\n              <div class=\"latest-news__date\">\n                <figure class=\"latest-news__date-icon\">\n                  <img decoding=\"async\" src=\"\/wp-content\/uploads\/ico_clock.svg\" alt=\"\">\n                <\/figure>\n                <span>Nov 04, 09:26 HKT<\/span>\n              <\/div>\n              <div class=\"latest-news__title\">Euro rises to near 1.1250, US midterm elections in spotlight<\/div>\n\t\t\t\t\t\n\t\t\t\t<\/div>\n\t\t\t  <button class=\"latest-news__accordion-btn js-accordion\">\n\t\t\t\t<span>Read article<\/span>\n\t\t\t\t<span>Close<\/span>\n\t\t\t  <\/button>\n            <\/div>\n          <\/div>\n          <div class=\"latest-news__content is-en js-news-content\">\n            <style>.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:\"\";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}<\/style>\n<ul><li value=\"1\"><strong>EUR\/USD gains traction to near 1.1240 in Wednesday\u2019s early Asian session.<\/strong><\/li><li value=\"2\"><strong>US midterm elections will take center stage on Wednesday.<\/strong><\/li><li value=\"3\"><strong>ECB\u2019s Nagel says the central bank will probably have to hike in December.<\/strong><\/li><\/ul><p>The EUR\/USD pair edges higher to around 1.1240 during the early Asian trading hours on Wednesday. US midterm election uncertainty exerts some selling pressure on the US Dollar (USD) against the Euro (EUR). Traders will closely watch the election results ahead of the US September jobs data later this week.<\/p><p>Americans are voting in midterm elections that will deliver a verdict on US President Donald Trump's second term. The race for control of Congress remains open, with key contests still undecided.<\/p><p>In the US House, media have projected winners in about two dozen of the chamber's 435 seats, none of which were in races expected to be closely contested. In the US Senate, Democrats have won the first seven of 35 seats up for grabs on Tuesday, including a win by US Senator Jon Ossoff in Georgia, according to US media projections. Even with these initial victories, the party must still pick up a net of four seats to win control of the Senate.<\/p><p>Hawkish comments from European Central Bank (ECB) policymakers also lift the shared currency. ECB Governing Council member Joachim Nagel said on Tuesday that the central bank will probably increase borrowing costs next month due to the worsening outlook for inflation.<\/p><p>The ECB held the key interest rates steady last week after raising them twice since the start of the Iran war. Several officials have indicated additional hikes may be necessary. Economists expect a final move in rates next month, though markets see tightening continuing beyond that, into 2027.<\/p><h2 class=\"fxs_headline_from_medium_to_large\">Euro edges lower as ECB keeps December hike risk alive<\/h2><p>Analysts at Scotiabank note that the Euro is trading modestly softer against the Dollar in subdued conditions, with the move framed by ongoing hawkish messaging from the ECB. They highlight comments from ECB Governing Council member Radev, who stressed that the October rate pause \"does not mean that tightening is over,\" thereby \"keeping the door open for a December hike.\" Scotiabank points out that \"Dec OIS are pricing in 22bps of tightening risk,\" underscoring that markets still see a meaningful chance of further policy action.<\/p><p>On the commodity side, Scotiabank observes that \"despite the drop in crude oil prices this week, the European energy focus remains on natgas\/power where prices have eased but remain significantly above even the most pessimistic ECB forecasts.\" This persistent elevation in gas and power costs continues to shape the inflation backdrop in the Eurozone, even as headline energy markets appear calmer.<\/p><p>In terms of fiscal developments, Scotiabank also flags that \"France reported its September YTD budget balance of EUR159.2bn, in line with expectations,\" suggesting no major surprise from one of the Eurozone\u2019s key sovereign borrowers.<\/p><h2 class=\"fxs_headline_from_medium_to_large\">Nagel flags likely December hike, supporting Euro upside risk<\/h2><p>ECB\u2019s Nagel delivers a stronger-than-usual hawkish signal, with the 8.2\/10 FXS Speechtracker score notably above the 7\/10 historic average, reinforcing expectations for tighter policy. The explicit remark that \u201ca rate hike in December is very likely to be necessary\u201d and the warning that inflationary pressures are approaching an adverse scenario underline a clear bias toward further tightening, supportive of the Euro on rate-differential grounds.<\/p><p>Nagel\u2019s emphasis on preventing an energy price spike from morphing into broad-based inflation, while stressing that France\u2019s budget issues are not a task for monetary policy, keeps the focus squarely on price stability. This combination of inflation vigilance and confidence in fiscal containment suggests limited tolerance for upside inflation surprises, increasing the probability of additional hikes and sustaining Euro resilience against the Dollar and other majors in the near term.<\/p><img decoding=\"async\" src=\"https:\/\/editorial.fxsstatic.com\/miscelaneous\/chart-analysis-1793753716358\" alt=\"Chart Analysis EUR\/USD\" loading=\"lazy\"><p><br><\/p><h2 class=\"fxs_headline_from_medium_to_large\">Technical Analysis: EUR\/USD keeps a bearish vibe under the 100-day SMA<\/h2><p>In the daily chart, EUR\/USD trades with a bearish near-term bias, as spot remains capped beneath the 100-day Simple Moving Average (SMA). Price holds just above the 20-day Bollinger Bands middle line, suggesting some underlying but fragile demand, while the upper band at 1.1254 marks immediate overhead resistance. The Relative Strength Index (RSI) at 46 stays below the 50 line, hinting that recovery attempts lack strong momentum.<\/p><p>On the topside, initial resistance is located at the Bollinger upper band around 1.1255, ahead of the more meaningful barrier at the 100-day SMA near 1.1420, where sellers are likely to defend the broader downtrend. On the downside, the first support level aligns with the Bollinger middle band at 1.1195, with a deeper cushion at the lower band near 1.1135; a daily close below this latter floor would reinforce the bearish structure and open the way to further losses.<\/p><p><em>(The technical analysis of this story was written with the help of an AI tool. <\/em><em>Know more.<\/em><em>)<\/em><\/p><div class=\"post-module\"><div id=\"content-module-faq-Forex-eur-447\" data-type=\"faq\" data-module=\"faq\" data-config-topic=\"eur\" data-config-category=\"Forex\" data-version=\"v1\" data-content-module-translate=\"0\">\n    <div class=\"fxs-faq-module-wrapper\">\n        <h2 class=\"fxs-faq-module-title\">Euro FAQs<\/h2>\n        <div class=\"fxs-faq-module-container\">\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-eur-447accordion0\" checked=\"checked\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-eur-447accordion0\">\n                            <span>What is the Euro?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.\nEUR\/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR\/JPY (4%), EUR\/GBP (3%) and EUR\/AUD (2%).<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-eur-447accordion1\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-eur-447accordion1\">\n                            <span>What is the ECB and how does it impact the Euro?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy.\nThe ECB\u2019s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates \u2013 or the expectation of higher rates \u2013 will usually benefit the Euro and vice versa.\nThe ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-eur-447accordion2\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-eur-447accordion2\">\n                            <span>How does inflation data impact the value of the Euro?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB\u2019s 2% target, it obliges the ECB to raise interest rates to bring it back under control.\nRelatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-eur-447accordion3\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-eur-447accordion3\">\n                            <span>How does economic data influence the value of the Euro?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency.\nA strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall.\nEconomic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone\u2019s economy.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-eur-447accordion4\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-eur-447accordion4\">\n                            <span>How does the Trade Balance impact the Euro?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.\nIf a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.<\/p>\n                <\/section>\n        <\/div>\n    <\/div>\n<\/div><\/div>          <\/div>\n        <\/div>\n            <div class=\"latest-news__item js-news-item\">\n          <div class=\"latest-news__summary\">\n            <figure class=\"latest-news__thumb\">\n              <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/editorial.fxsstatic.com\/images\/i\/USDCNY-neutral-object-1_Large.png\" alt=\"\" width=\"270\" height=\"180\">\n            <\/figure>\n            <div class=\"latest-news__title-wrapper\">\n\t\t\t\t<div>\n              <div class=\"latest-news__date\">\n                <figure class=\"latest-news__date-icon\">\n                  <img decoding=\"async\" src=\"\/wp-content\/uploads\/ico_clock.svg\" alt=\"\">\n                <\/figure>\n                <span>Nov 04, 09:15 HKT<\/span>\n              <\/div>\n              <div class=\"latest-news__title\">PBOC sets USD\/CNY reference rate at 6.7180 vs. 6.7150 previous<\/div>\n\t\t\t\t\t\n\t\t\t\t<\/div>\n\t\t\t  <button class=\"latest-news__accordion-btn js-accordion\">\n\t\t\t\t<span>Read article<\/span>\n\t\t\t\t<span>Close<\/span>\n\t\t\t  <\/button>\n            <\/div>\n          <\/div>\n          <div class=\"latest-news__content is-en js-news-content\">\n            <style>.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:\"\";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}<\/style>\n<p>On Wednesday, the People\u2019s Bank of China (PBOC) sets the USD\/CNY central rate for the trading session ahead at 6.7180 compared to the previous day's fix of 6.7150 and 6.6811 Reuters estimate.<\/p><div class=\"post-module\"><div id=\"content-module-faq-Forex-pboc-304\" data-type=\"faq\" data-module=\"faq\" data-config-topic=\"pboc\" data-config-category=\"Forex\" data-version=\"v1\" data-content-module-translate=\"0\">\n    <div class=\"fxs-faq-module-wrapper\">\n        <h2 class=\"fxs-faq-module-title\">PBOC FAQs<\/h2>\n        <div class=\"fxs-faq-module-container\">\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-pboc-304accordion0\" checked=\"checked\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-pboc-304accordion0\">\n                            <span>What does the People's Bank of China do?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">The primary monetary policy objectives of the People's Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and promote economic growth. China\u2019s central bank also aims to implement financial reforms, such as opening and developing the financial market.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-pboc-304accordion1\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-pboc-304accordion1\">\n                            <span>Who owns the PBoC?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">The PBoC is owned by the state of the People's Republic of China (PRC), so it is not considered an autonomous institution. The Chinese Communist Party (CCP) Committee Secretary, nominated by the Chairman of the State Council, has a key influence on the PBoC\u2019s management and direction, not the governor. However, Mr. Pan Gongsheng currently holds both of these posts.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-pboc-304accordion2\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-pboc-304accordion2\">\n                            <span>What are the main policy tools used by the PBoC?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">Unlike the Western economies, the PBoC uses a broader set of monetary policy instruments to achieve its objectives. The primary tools include a seven-day Reverse Repo Rate (RRR), Medium-term Lending Facility (MLF), foreign exchange interventions and Reserve Requirement Ratio (RRR). However, The Loan Prime Rate (LPR) is China\u2019s benchmark interest rate. Changes to the LPR directly influence the rates that need to be paid in the market for loans and mortgages and the interest paid on savings. By changing the LPR, China\u2019s central bank can also influence the exchange rates of the Chinese Renminbi.<\/p>\n                <\/section>\n                <input type=\"checkbox\" id=\"content-module-faq-Forex-pboc-304accordion3\">\n                <section class=\"fxs-faq-module-section\">\n                    <h3 class=\"fxs-faq-module-header\">\n                        <label for=\"content-module-faq-Forex-pboc-304accordion3\">\n                            <span>Are private banks allowed in China?<\/span>\n                        <\/label>\n                    <\/h3>\n                    <p class=\"fxs-faq-module-content\">Yes, China has 19 private banks \u2013 a small fraction of the financial system. The largest private banks are digital lenders WeBank and MYbank, which are backed by tech giants Tencent and Ant Group, per The Straits Times. In 2014, China allowed domestic lenders fully capitalized by private funds to operate in the state-dominated financial sector.<\/p>\n                <\/section>\n        <\/div>\n    <\/div>\n<\/div><\/div>          <\/div>\n        <\/div>\n      <\/div>\n  <div class=\"latest-news__pagination\">\n    <div><a class=\"latest-news__page active\" href=\"?nav=1\">1<\/a><\/div><div><a class=\"latest-news__page \" href=\"?nav=2\">2<\/a><\/div><div><a class=\"latest-news__page \" href=\"?nav=3\">3<\/a><\/div><div><a class=\"latest-news__page \" href=\"?nav=4\">4<\/a><\/div><div><a class=\"latest-news__page \" href=\"?nav=5\">5<\/a><\/div>  <\/div>\n<\/section>\n<script>\n  let acc = document.getElementsByClassName(\"js-accordion\");\n  let i;\n\n  for (i = 0; i < acc.length; i++) {\n    acc[i].addEventListener(\"click\", function() {\n      this.classList.toggle(\"is-active\");\n\t  const parent = this.closest('.js-news-item')\n      const panel = parent.querySelector('.js-news-content')\n      parent.classList.toggle(\"is-active\");\n      if (panel.style.display === \"block\") {\n        panel.style.display = \"none\";\n      } else {\n        panel.style.display = \"block\";\n      }\n    });\n  }\n\t\n  function handleAccordionInContents() {\n\t  const dataAccordions = jQuery(\".latest-news__content.is-cn .fxs-content-module-header\")\n\t  dataAccordions.each(function() {\n\t\t  const $this = jQuery(this)\n\t\t  let isExpanded = $this.parent().attr('expanded')\n\t\t  if(typeof isExpanded !== 'undefined' && isExpanded !== false) {\n\t\t\t  $this.addClass('show')\n\t\t\t  $this.parent().addClass('show')\n\t\t  }\n\t  })\n\t  dataAccordions.on(\"click\", function(e) {\n\t\t  const $this = jQuery(this)\n\t\t  const content = $this.next()\n\t\t  if($this.hasClass('show')) {\n\t\t\t  content.slideUp(300, function() {\n\t\t\t\t  $this.removeClass('show')\n\t\t\t  \t  $this.parent().removeClass('show')\n\t\t\t  })\n\t\t  } else {\n\t\t\t  content.css(\"opacity\", 0)\n\t\t\t  \t.slideDown(300)\n\t\t\t  \t.animate(\n\t\t\t\t\t{ opacity: 1 },\n\t\t\t\t\t{ queue: false, duration: 300 }\n\t\t\t\t  );\n\t\t\t  $this.addClass('show')\n\t\t\t  $this.parent().addClass('show')\n\t\t\t  \n\t\t  }\n\t  })\n  }\n\t\n\t\n\tjQuery(document).ready(function() {\n\t\thandleAccordionInContents()\n\t})\n<\/script>\n\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e823cf5 e-flex e-con-boxed e-con\" data-id=\"e823cf5\" data-element_type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[],&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-741da53 elementor-widget elementor-widget-heading\" data-id=\"741da53\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Forex Market News<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-874732b elementor-widget elementor-widget-text-editor\" data-id=\"874732b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.14.0 - 26-06-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Our dedicated focus on forex news and insights empowers you to capitalise on investment opportunities in the dynamic FX market. The forex landscape is ever-evolving, characterised by continuous exchange rate fluctuations shaped by vast influential factors. From economic data releases to geopolitical developments, these events can sway market sentiment and drive substantial movements in currency valuations.<\/p><p>At Rakuten Securities Hong Kong, we prioritise delivering timely and accurate forex news updates sourced from reputable platforms like FXStreet. This ensures you stay informed about crucial market developments, enabling informed decision-making and proactive strategy adjustments. Whether you&#8217;re monitoring forex forecasts, analysing trading perspectives, or seeking to capitalise on emerging trends, our comprehensive approach equips you with the insights needed to navigate the FX market effectively.<\/p><p>Stay ahead with our comprehensive forex news coverage, designed to keep you informed and prepared to seize profitable opportunities in the dynamic world of forex trading.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>HOME Forex News News source: FXStreet Forex Market News Our dedicated focus on forex news and insights empowers you to capitalise on investment opportunities in the dynamic FX market. The forex landscape is ever-evolving, characterised by continuous exchange rate fluctuations shaped by vast influential factors. From economic data releases to geopolitical developments, these events can [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":273,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_jet_sm_ready_style":"","_jet_sm_style":"","_jet_sm_controls_values":"","_jet_sm_fonts_collection":"","_jet_sm_fonts_links":"","_links_to":"","_links_to_target":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.11 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Forex News | FX Forecast - Rakuten Securities HK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.sec.rakuten.com.hk\/en\/insight\/forex-news\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Forex News | FX Forecast - Rakuten Securities HK\" \/>\n<meta property=\"og:description\" content=\"HOME Forex News News source: FXStreet Forex Market News Our dedicated focus on forex news and insights empowers you to capitalise on investment opportunities in the dynamic FX market. 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