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Stocks’ euphoria might have legs – Stock Markets

Equity indices react positively to Trump’s winSmall capitalization stocks could benefit furtherEuropean stock indices remain the laggardsFed stance to support current sentiment despite high yieldsTrump’s win pushes stocks higherUS stock indices continue to dance to the tune of Trump’s return to the White House. The initial reaction was positive with the S&P 500 index climbing by around 2.5%, as the pre-election rhetoric about significant tax cuts contributed to the improved market sent
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Bitcoin hits new record high on Trump victory - Crypto News

Bitcoin skyrockets and hits fresh record at $76,500Crypto enthusiasts celebrate Trump’s crypto-friendly stanceFed decision eyed; risk of possible pullbackHowever, broader uptrend remains intactTrump’s return to Oval Office fuels BitcoinCrypto traders were among those celebrating Donald Trump’s return to the Oval Office. Bitcoin, the world’s largest cryptocurrency began to gain on the day of the election, and skyrocketed on the first signs that Trump may be the next US president, hitting
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Technical Analysis – GBPUSD bounces off 1.2840 after significant red day

GBPUSD holds beneath rising trend lineMomentum oscillators are mixedGBPUSD had an aggressive bearish movement yesterday, losing 1.7% from 1.3045 to 1.2840, breaking the long-term ascending trend line to the downside again.Currently, the price remains beneath the diagonal line, with the next strong support level coming from the 200-day simple moving average (SMA) at 1.2820. If the price dives below this barrier, it could pave the way for steeper decreases up to the 1.2610-1.2670 range.Alternative
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Quick Brief – BoE cuts rates for the second time in 4 years

BoE lowers rates to 4.75% as inflation drops to 1.7%Pound holds in a range in short-termAt its meeting today, the Bank of England (BoE) lowered its main interest ratesby 25 basis points (bps) to 4.75% from 5.00%, following a hold in September and a quarter-point cut in August. The Monetary Policy Committee voted 8-1 to reduce interest rates versus the anticipated 7-2 majority indicated in a Reuters poll and the split vote of 5-4 in August, suggesting a slight dovish tilt.The economic dat
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Daily Comment – Dollar pauses rally ahead of Fed, BoE meets as well

Dollar traders take a breather as Fed decision loomsFocus to fall on how likely a pause is in coming monthsBoE expected to cut, could take the sidelines in DecemberWall Street continues to celebrate Trump’s winWill the US election outcome impact Fed policy?After hitting a four-month high on the heels of Donald Trump’s return to the White House, the dollar is pulling back today, as traders may have decided to lock some profits after the sharp rally and ahead of the Fed decision later today.Wi
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Technical Analysis – GBPUSD in the red for six weeks

GBPUSD hits a new two-month low as Trump wins White HouseShort-term outlook remains bearish; focus on 200-SMA for potential supportBank of England, Fed announce their rate decisions today GBPUSD took a sharp dive to a two-month low of 1.2833 on Tuesday as the return of Trumponomics gave fresh impetus to the greenback.On Wednesday, the 50% Fibonacci retracement level of the April-September rally came to support the market ahead of the BoE and Fed rate decisions, but with the price failing to hol
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EURCHF trades in a tight rangeThe medium-term bearish trend is still validMomentum indicators prepare for the next leg EURCHF is edging higher today, testing the resistance set by both the 0.9394-0.9403 area and the May 27, 2024 downward slopping trendline. EURCHF has been trading in a tight range over the past few sessions, inside the developing contracting triangle pattern, as the bulls have failed to materially benefit from a barrage of positive euro area data.This reduced volatility is ref
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Quick Brief – What’s next for the markets after Trump’s victory?

Trump is back in the White House; dollar becomes king againSelection of cabinet members is the next taskGold is the worst performer; melts below $2,700 It's no longer in question, Donald Trump made a remarkable comeback to the White House with 279 electoral seats at the time of writing compared to Kamala Harris’ of 224 despite 34 felony count convictions, two assassination attempts, and a stormy campaign battle with Kamala Harris. This is not the only victory for Trump.
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Could markets relive the 2016 post-election day performance?

Euro/dollar could suffer if 2016 repeats itselfUS stocks could further benefit from Trump’s winGold and bitcoin might move in opposite directionEuro/dollar volatility could rise furtherTrump wins a second termFormer President Trump has won the 2024 presidential election, achieving a noticeable comeback following the 2020 defeat. The market reaction has been mostly within expectations, with the dollar gaining across the board, gold suffering and bitcoin enjoying strong gains.While market partic
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Technical Analysis - USDJPY unlocks 3-month high above 154.00

USDJPY makes strong gains after Trump’s winTechnical oscillators turn northUSDJPY is experiencing an aggressive bullish rally today due to Trump’s victory, adding more than 2% after the strong bounce off the bullish crossover within the 20- and 200-day simple moving averages (SMAs) at 151.66. The pair jumped above the 154.00 round level, reco
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Technical Analysis – Gold prices post bearish spike towards 3-week low

Gold loses ground but bullish phase intactMACD and RSI head southGold prices tumbled to a fresh almost three-week low of 2,701 but are currently recouping some losses, flirting with the 2,725 support level. A closing session beneath the 2,710-2,716 region could find strong support at the 200-period simple moving average (SMA) at 2,685. Steeper decreases may open the way for a bearish tendency in the short term, hitting the 2,673 bar.In the positive scenario, a return to the upside may take the b
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AUDUSD is well in the red todayStrong resistance set by the 200-day SMAMomentum indicators are mostly bearishAUDUSD is trading lower today, reacting to the news that former president Trump has probably secured a second term in the White House, with today’s price action almost entirely canceling out Tuesday’s upleg, which was caused by the hawkish RBA meeting.
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Daily Comment – Dollar and stocks surge on Trump victory bets

Donald Trump secures key battleground statesDollar rallies as his policies are seen as inflationaryStocks celebrate prospect of tax cuts and deregulationBitcoin hits fresh record high, oil retreatsTrump knocks the White House doorThe dollar skyrocketed during the Asian session today, and it appears to be headed for its biggest one-day gain since March 2020.Following the closing of the election ballots in the US, early signs that former president Donald Trump is likely to return to the White Hous
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Technical Analysis – USDJPY cheers as Trump leads election race

USDJPY hits fresh highs as Trump wins battleground statesResistance of 153.80-154.00 still in playUSDJPY soared to a new three-month high of 154.36 as Donald Trump won Pennsylvania, Georgia, and North Carolina. Technically, the pair found solid support near its 20-day exponential moving average (EMA), keeping its upward trend in safe place.That said, the day is not over yet, and the 153.40-154.00 barrier is still under examination.
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Technical Analysis – US 30 index skyrockets after Trump’s victory

US 30 index extends upside move above SMAsStochastics and RSI turn upThe US 30 cash index is rallying more than 2% today during Trump’s victory in the US elections, sending the market towards the previous all-time high of 43,575.The technical oscillators are mirroring the latest strong bullish momentum, with the stochastic posting a positive
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A BoE rate cut is expected but the overall rhetoric matters – Preview

The BoE meeting concludes on ThursdayMarket expects a 25bps rate cutRhetoric and voting pattern matterPound could suffer from a dovish rate cut BoE meets on ThursdayThe Bank of England will hold its penultimate meeting for 2024 on Thursday, a few hours ahead of the Fed's gathering. With the market anxiously awaiting the outcome of the US presidential election, Governor Bailey et al will examine the progress made since the September meeting.Mixed signals from the economySince the September m
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Quick Brief – ISM services PMI comes in favor of Biden’s era

ISM non-mfg. accelerates in October, employment index strengthens tooInvestors remain confident about a 25bps rate cut this week; dollar barely rises The ISM non-manufacturing PMI index came in favor of Biden’s administration on Tuesday, arriving stronger than expected as US voters headed to the polls to elect the next President.The survey for October showed surprisingly increased business activity for the second consecutive month, with the index rising to 56.0 – the highest in more than tw
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Technical Analysis – BTCUSD challenges resistance at 20-SMA

BTCUSD capped by its 20-period SMA at 68,625.Price trapped in short-term bearish channelA surge above 70,000 could shift the bias to positiveBTCUSD (Bitcoin) has been sailing in choppy waters since the peak at a seven-month high of 73,609 recently finding a footing at the lower boundary of a bearish channel in the four-hour chart.As Election Day unfolds in the US, there’s growing speculation that a potential Trump victory might provide a tailwind for cryptocurrencies.
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AUDUSD claims 0.6620 zone after fast rallyShort-term bias positive, but there are more threats higherStochastics and RSI in bullish modeAUDUSD has been gaining some ground over the last week, testing the 0.6620 resistance level. The price managed to surpass above the 20- and 50-period simple moving averages (SMAs) in the 4-hour chart with the momentum oscillators experiencing an upside movement.
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Technical Analysis – EURUSD snaps key barrier but another one stands in the way

EURUSD battles with 1.0900Stochastics and MACD are mixedEURUSD successfully surpassed the 200-day simple moving average at 1.0870, flirting with the 1.0900 round number. As the pair continues to rise, it is approaching the resistance levels of 1.0915 and 1.0950, followed by the 50-day SMA at 1.0985. More importantly, the 1.1000 round number is waiting on the market’s horizon for a potential pullback.On the other hand, a drop below the 200-day SMA may send traders to battle with the medium- and
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