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🔽 Gold drops on robust U.S. labour data Gold (XAU) dropped sharply on Friday following a stronger-than-expected U.S. Nonfarm Payroll (NFP) report but then recovered and stabilised at $2,650. 👉 Possible effects for traders Gold retreated further from its record highs after signs of a robust U.S. labour market decreased the chances that the Federal Reserve (Fed) will continue to deliver aggressive rate cuts. Nonfarm payrolls rose by 254,000 in September, far surpassing the expected 140,000, while the unemployment rate unexpectedly dropped towards 4.1%. This data reduced worries about labour market softness seen in prior months, making investors believe the Fed will take a less aggressive approach to interest rate easing. Lower rates typically decrease the opportunity cost of holding non-yielding gold. The positive U.S. NFP report alleviated fears of an economic slowdown, coupled with optimism surrounding China's stimulus measures, which continue to bolster sentiment in the equity markets. The CME Group's FedWatch Tool indicates that traders now estimate a nearly 95% probability of the Fed implementing a 25-basis-point (bps) rate cut at the November meeting. Meanwhile, official data released Monday showed that China's gold reserves have remained steady at 72.8 million for the fifth consecutive month as of the end of September. XAUUSD fell during the Asian trading hours. Today, no major macroeconomic events could trigger a strong move in the market. This week, the U.S. Consumer Price Index (CPI) report will be released on Thursday. The data will play a crucial role in shaping the Fed's upcoming interest rate decision. ‘Spot gold is biased to retest support at $2,633 per ounce, a break below which could open the way towards $2,611 to $2,619 range’, said Reuters analyst Wang Tao. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

🚀 EURUSD breaks out of its two-month range and heads lower The euro (EUR) lost 0.50% against the U.S. dollar (USD) on Friday after a surprisingly strong jobs report for September led traders to expect fewer rate cuts by the Federal Reserve (Fed). 👉 Possible effects for traders U.S. Nonfarm Payroll (NFP) report showed a much higher-than-expected increase in the number of new jobs. The unemployment rate also unexpectedly slipped towards 4.1% from 4.2% in August. It is a ‘blockbuster payroll report by any measure. I think a no-landing scenario for the U.S. economy has suddenly become far more plausible. The expectation now would be for a Fed that treads far more cautiously in easing policy’, said Karl Schamotta, chief market strategist at Corpay in Toronto. A stronger-than-expected NFP report came after Fed Chair Jerome Powell had downplayed the expectations for large rate cuts. The combination of improving economic data and Powell's less dovish rhetoric led traders to downsize their expectations of a 50-basis-point (bps) rate cut at the Fed's 7 November meeting. Indeed, according to the CME Fed Watch Tool, traders are now pricing in zero chance of a 50-bps rate cut, down from around 35% a week ago. A 25-bps reduction is almost warranted, with traders also now seeing a small chance that the Fed will leave rates unchanged. Meanwhile, the market expects the European Central Bank (ECB) to speed up its monetary policy easing in the months ahead. 25-bps reductions in October and December are now fully priced in as inflationary pressures are easing faster than policymakers had expected. Francois Villeroy de Galhau, the head of the French central bank, recently said that the ECB will almost certainly cut the rates in October as economic growth remains weak, raising the risk that inflation will undershoot its 2% target. EURUSD was falling during the Asian and early European trading sessions. The pair has now broken out of its two-month technical range, and the trading bias is now bearish. Today's macroeconomic calendar doesn't feature any major events that might significantly impact the EURUSD exchange rate, so the established bearish trend may persist. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

🚀 AUDUSD trades sideways ahead of the RBA meeting minutes The Australian dollar (AUD) lost 0.69% on Friday due to the strengthening U.S. dollar, as the Nonfarm Payroll (NFP) report data exceeded expectations. 👉 Possible effects for traders Data released on Friday indicated that the U.S. economy created almost twice as many jobs as expected in September. The data led markets to discount any possibility of another 0.5% rate reduction by the Federal Reserve (Fed) in November. Given the hawkish comments made by Fed Chair Jerome Powell on potential rate cuts last Monday, there is now zero chance of a 50-basis-point rate cut in rates at the monetary policy meeting on 7 November, down from 35% the previous week. The market anticipates a 25-bps reduction as a baseline scenario. Additionally, Middle Eastern tensions have dampened traders' appetite for risk. Meanwhile, investors continue to assess the prospects for the monetary policy of the Reserve Bank of Australia (RBA) amid expectations that the regulator may start cutting interest rates later than other central banks. Currently, markets price in an over 70% probability of a rate cut in December. However, the central bank will likely maintain its policy until early 2025 if core inflation remains high. AUDUSD has been moving within a narrow range during the Asian and early European sessions. The pair is attempting to hold around the 0.68000 level. No major news is expected today, but the RBA meeting minutes will be released at 12:30 a.m. UTC tomorrow. If the RBA's rhetoric is hawkish, it could support the AUDUSD. Meanwhile, dovish statements could bring the pair down towards 0.67000. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

EURUSD, 15-minute timeframe chart EURUSD retested the resistance level of 1.09730 👉Level explanation EURUSD has been trading in a sideways market for the last couple of hours. The pair moved up to the resistance level of 1.09730. 👉Possible scenario The best way to use this opportunity is to place a Sell order at 1.09690. Set your stop loss at 1.09820 above the previous high ($1.30 loss for 0.01 lot) and take profit at 1.09560 ($1.30 profit for 0.01 lot). The risk-reward ratio for this order is 1:1. 📝Fundamental factors The eurozone Retail Sales report will be released in a few hours and could affect this trade. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

#economic_calendar This event may affect the market on 7 October. 🔥 Don't forget to get a 100% deposit bonus!

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#ICYMI: U.S. Elections Debate—No Clear Winner 🇺🇸 The recent vice-presidential debate between Republican James Vance and Democrat Tim Walz was calmer than expected. Vance pointed to Kamala Harris’ influence on issues like immigration and the situation in Gaza, while Walz criticized Trump’s past actions. Neither offered clear answers on supporting a potential Israeli strike on Iran. As tensions rise between Israel, Gaza, Lebanon, and Iran, gold prices are spiking. Investors are hedging against these risks, and with talk of possible Israeli strikes on Iranian oil facilities, XAUUSD could climb even higher—possibly surpassing $2,685. Stay tuned: check out more U.S. election insights on Space here.

Friday is for crypto news: get ready for trading! This week, bitcoin has weakened to the strengthening U.S. dollar. 1️⃣ +329k jobs were created in August compared to July, +143k is expected in the September report. 2️⃣ The Fed is steadfast in keeping the interest rate in November. 3️⃣ Investors were withdrawing funds from Bitcoin’s ETFs for three consecutive days. Regarding technical analysis, BTCUSD is now finding support at 60k and the SMA200 on the 4-hour chart. Before making a decision, consider EMA20 and its volume support. If the graph crosses EMA20, the final target could be 70k, the previous mid-term high. Alternatively, if the price fails to hold the 60k support level, the decline could continue until it reaches the 0.618 Fibonacci level at 55k. Trade crypto in the Octa app. #crypto #cryptotrading #cryptonews #cryptoupdate #forextrading

🚀 U.S. Elections: the debate between the vice presidential candidates failed to reveal a winner A few days ago, there was a debate between the vice presidential candidates. U.S. Senator James David Vance, chosen by Republican Donald Trump as his running mate for vice president, faced off with Minnesota Governor Tim Walz, selected by Democrat Kamala Harris to be his number two. Many viewers expected the debate to be contentious, given the intensity of the previous exchange between the two candidates. However, the event took an unexpected turn as the candidates engaged in a more amicable conversation. This contrasted the previous heated debate between Harris and Trump. Vance, as expected, suggested that Harris had played a significant role in White House decision-making regarding issues such as immigration and the Gaza situation. Walz, consistent with his usual approach, criticised Trump's actions during his time in office. Both candidates were reluctant to answer whether they would support a pre-emptive military action by Israel against Iran to prevent its nuclear development. 👉 Possible effects for traders Against the backdrop of ongoing tensions between Israel, Lebanon, and Iran, the gold (XAU) continues to strengthen. Due to geopolitical risks, investors are forced to hedge their positions by buying gold. Following the announcement by U.S. President Joe Biden regarding the discussion of a potential Israeli strike on Iranian oil facilities, markets received a signal indicating a possible further escalation of the situation. If the current conflict phase in the Middle East persists, XAUUSD may continue to rise towards new historical highs, potentially over $2,685. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

🚀 Gold moves sideways as USD strengthens amid geopolitical uncertainty Gold (XAU) moved sideways on Thursday as the U.S. dollar (USD) strengthened and geopolitical risks increased. 👉 Possible effects for traders Gold was steady around $2,656 on Thursday, hovering near record highs, as rising geopolitical tensions bolstered its safe-haven appeal. Market participants are closely watching the situation in the Middle East, with concerns growing after U.S. President Joe Biden stopped short of explicitly condemning the possibility of Israeli strikes on Iran. Additionally, Tel Aviv pledged to retaliate against Iran while ramping up operations in Beirut amid its ongoing conflict with Hezbollah. On Thursday, the U.S. Dollar Index (DXY) reached a six-week high following robust U.S. economic data. Purchasing Managers' Index (PMI) figures indicated that U.S. services activity grew at its fastest pace in over a year in September. Meanwhile, recent job openings, private employment, and weekly jobless claims data highlighted a resilient labour market. Additionally, the dollar gained support from dovish signals in the U.K., Europe, and Japan. XAUUSD rose during the Asian trading session. The U.S. Nonfarm Payroll (NFP) report will be released today at 12:30 p.m. UTC. This data could impact the market expectations of a 50-basis-point rate cut by the Federal Reserve (Fed) in November, leading to a reassessment of dollar-based assets. The market forecast for September's NFP figures is to decrease towards 140,000. A stronger result may boost the U.S. dollar, weighing down on gold, while weaker numbers could soften the greenback and support the gold price. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

🚀 EURUSD drops to a three-week low ahead of the NFP report The euro (EUR) declined by 0.13% against the U.S. dollar (USD) on Thursday as the U.S. Jobless Claims report indicated a still healthy labour market and the ISM Manufacturing Purchasing Managers' Index (PMI) data was higher than expected. 👉 Possible effects for traders Apart from the relatively strong macroeconomic reports, continuing safe-haven flows amid rising tensions in the Middle East boosted the greenback. In addition, the suspension of the dockworker strike may have also supported USD. ‘Today is an example of how quickly the U.S. dollar can recover. While Thursday's data was a little contractionary, the U.S. remains the envy of other countries’, said Juan Perez, director of trading at Monex USA. Still, investors continue to maintain a rather dovish view of the Federal Reserve (Fed), expecting the regulator to deliver roughly 100 basis points (bps) worth of rate cuts over the next four months. Meanwhile, the market anticipates the European Central Bank (ECB) to be less dovish than the Fed and deliver less than 80 bps worth of rate cuts by the beginning of 2025. Therefore, if U.S. data continues to come out stronger than expected while the eurozone data disappoints, a large adjustment in monetary policy expectations may take place. Thus, a sizable decline in EURUSD may be still ahead. EURUSD was relatively flat during the Asian and early European trading sessions. The biggest event today is the release of the U.S. Nonfarm Payroll (NPF) report at 12:30 p.m. UTC. Jerome Powell, the Fed Chairman, has stressed recently that the U.S. central bank was shifting its focus away from inflation onto the labour market. Today's data may largely determine the size of the Fed's next rate cut and the frequency of further cuts. The market generally expects a weak report, with a 0.3% rise in average earnings and around 140,000 new jobs created in September. A strong-than-expected report may trigger a disproportionately strong bearish reaction in EURUSD. A weak report may trigger a sharp upward correction in EURUSD, but it's unlikely to reverse a bearish medium-term trend. The key levels to watch are support at 1.10000 and resistance at 1.11500. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

🚀 Middle East conflict sparks sell-off in Bitcoin Bitcoin (BTC) dropped over 6% this week as the escalating conflict in Gaza and Lebanon fuelled flows into safe-haven assets. 👉 Possible effects for traders Middle East tensions are driving a sell-off in risk assets, including Bitcoin. Additionally, BTCUSD faced bearish pressure as stronger-than-expected U.S. labour market data and Federal Reserve (Fed) Chair Jerome Powell's hawkish remarks supported the U.S. dollar's (USD) recovery from its low. Tuesday's JOLTs Job Openings report revealed a surprising increase of 329,000, bringing the total to 8.04 million jobs created in August, up from a revised 7.711 million in July. Additionally, the ADP report on Wednesday showed private-sector employers added 143,000 jobs in September, surpassing expectations of 120,000. The data pointed to a still-resilient U.S. labour market, prompting investors to reconsider the probability of a 50-basis-point rate cut by the Fed in November. Another factor putting downward pressure on Bitcoin is the outflow of funds from Bitcoin exchange-traded funds (ETFs), which has continued for the third consecutive day. U.S. spot Bitcoin ETFs saw net outflows of $54.13 million on Thursday, marking the third straight day of negative flows, totalling over $388 million. Ark Invest's ARKB led the outflows with $57.97 million, while Fidelity's FBTC lost $37.21 million. In contrast, BlackRock's IBIT gained $35.96 million, and Bitwise's BITB and Invesco's BTCO saw inflows of $2.65 million and $2.44 million, respectively. Seven other funds, including Grayscale's GBTC, reported no flows. BTCUSD rose in the Asian and early European trading sessions. Markets today are waiting for the U.S. Nonfarm Payroll (NFP) data due at 12:30 p.m. UTC, which will cause increased volatility and affect the U.S. dollar and all related pairs. Thus, today's report will be significant as it may support or disprove investors' dovish stance on the U.S. interest rate path. If the NFP numbers are higher than expected, the U.S. dollar will rise, while BTC may return towards $60,000. Otherwise, BTCUSD may rise towards $62,000 on weaker-than-expected figures. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

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EURUSD, 30-minute timeframe chart EURUSD retested the resistance level of 1.10350 👉General outlook EURUSD has been trading in a sideways market for the last couple of hours. The pair moved up to the resistance level of 1.10350. 👉Possible scenario The best way to use this opportunity is to place a Sell order at 1.10260. Set your stop loss at 1.10412 above the previous high ($1.52 loss for 0.01 lot) and take profit at 1.10108 ($1.52 profit for 0.01 lot). The risk-reward ratio for this order is 1:1. The upcoming news will not influence your orders within the mentioned period. Some traders may close their positions on Friday, which can add more pressure to the market. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

Traders, prepare to update your USD portfolio! The nonfarm payroll is on the horizon. The monthly report will be released today at 12:30 p.m. UTC. The data could impact: 🔹 the U.S. dollar, bond, and stock markets 🔹 the likelihood of a 50-bps rate cut in the U.S. in November. Previous U.S. labour market reports have shown stronger-than-expected figures. Market expectations for the September nonfarm payrolls report are set at a decrease of 140K. A higher-than-expected number could strengthen the U.S. dollar, putting pressure on gold prices. Conversely, a lower NFP figure could weaken the dollar, boosting gold's appeal.

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GBPJPY, 30-minute timeframe chart GBPJPY rebounded from the support level of 191.900 👉General outlook GBPJPY has been trading in a bearish trend for the last couple of hours. The pair moved down to the support level of 191.900. 👉Possible scenario The best way to use this opportunity is to place a Buy order at 192.180. Set your stop loss at 191.520 below the previous low ($4.51 loss for 0.01 lot) and take profit at 192.840 ($4.51 profit for 0.01 lot). The risk-reward ratio for this order is 1:1. The upcoming news will not influence your orders within the mentioned period. Some traders may close their positions on Friday, which can add more pressure to the market. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

BTCUSD, 15-minute timeframe chart BTCUSD broke the resistance level of 61,200.00 👉General outlook BTCUSD has been under buying pressure within the last couple of hours. 👉Possible scenario The best way to use this opportunity is to place a Buy order at 61,250.00. Set your stop loss at 60,500.00 below the previous low ($7.50 loss for 0.01 lot) and take profit at 62,000.00 ($7.50 profit for 0.01 lot). The risk-reward ratio for this order is 1:1. The upcoming news will not influence your orders within the mentioned period. Some traders may close their positions on Friday, which can add more pressure to the market. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

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