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Today at 1 p.m. UTC, the South African Reserve Bank lowered the interest rate from 8% to 7.75%, indicating negative expectations for the ZAR and the South African economy. This is a second decline in a row after the previous decision to cut the rate by 25 basis points on 19 September. The reason for the rate cut is a wish of the authorities to constrain inflation. However, analysts forecast that the interest rate will be lowered even further, which is a dovish sign for the currency. The Monetary Policy Committee of the Bank is responsible for defining the interest rate in the country. This is the rate upon which the central bank loans money to commercial banks. #forexnews #ZAR #southafricaza #Trading #Forex #MarketUpdates

📊 Gold rises on geopolitical risks Gold (XAU) has been rising for three consecutive days, gaining 0.69% yesterday. 👉 Possible effects for traders Geopolitical risks linked to the Russia-Ukraine conflict remain a key driver of gold's upward trend. Tensions escalated when Ukraine got permission to use long-range missiles, and, in response, Russian President Vladimir Putin lowered the nuclear strike threshold, boosting demand for gold. A weaker U.S. dollar (USD) further supported the bullish trend in XAUUSD. In the U.S., investor sentiment suggests that expansionary policies proposed by President-elect Donald Trump may lead to increased inflation and force the Federal Reserve (Fed) to stop reducing interest rates. A member of the Fed Board of Governors, Lisa Cook, warned that a slowdown in inflation decline could lead to a pause in further rate reductions. Another Fed member, Michelle Bowman, said that progress in combating inflation has slowed and that the central bank should adopt a cautious approach to monetary policy. According to CME Group's FedWatch Tool, there is a 50% chance that the Fed won't reduce interest rates in December. XAUUSD was testing the $2,650 resistance level and continued rising during the Asian session, reaching a 1.5-week high. If the pair manages to hold above the resistance, it could rise further towards $2,700 or higher. Alternatively, if the price pulls back from the resistance, a sideways movement may be expected. ➡️Sign Up Now ➡️ https://tlt.ink/octa Partner Code ➡️ 3788810

📊 EURUSD could rebound as the market is likely mispricing Fed rate cuts The euro (EUR) lost 0.49% against the U.S. dollar (USD) on Wednesday as the U.S. Dollar Index (DXY) renewed its post-election rally after a three-session decline. 👉 Possible effects for traders Overall, EURUSD is down more than 3.5% as the U.S. presidential election prompted investors to expect fewer rate cuts from the Federal Reserve (Fed). They suggest that Donald Trump's policies would be inflationary, leading to a tighter monetary policy. However, there is a risk that the rally in DXY is overdone. ‘There's a lot of pessimism about Fed rate cuts that we think is misplaced. The rest of the world, except for Japan, has to cut because they have zero growth, basically, and without the U.S., they'd be in a recession. Everybody is super-bearish, in our opinion too bearish, about Fed cuts’, said Jay Hatfield, CEO at Infrastructure Capital Advisors in New York. In other words, the market sentiment isn't balanced right now, which increases the risk of a sharp upward correction in EURUSD. According to CME's FedWatch Tool, markets are pricing in a 52% chance of a 25-basis-point cut at the Fed's December meeting, down from 82.5% a week ago. At the same time, the market is a lot more optimistic about the rate cuts in the eurozone. Interest rate swaps market data implies a 49% probability that the European Central Bank (ECB) would reduce its base rate to just 2% by mid-2025. In addition, there is a growing risk that potential global trade tensions will damage the eurozone economy, which is predominantly export-based. Thus, investors lack strong reasons to buy and hold the euro. EURUSD was relatively flat during the Asian and early European trading sessions. Today, the market will get more clues on the state of the U.S. economy from the latest weekly Jobless Claims report at 1:30 p.m. UTC and Existing Home Sales data at 3:00 p.m. UTC. Better-than-expected results will likely trigger another sell-off in EURUSD, potentially pushing the pair towards a multi-month low. Conversely, worse-than-expected results may pull EURUSD above the 1.05800 level. ➡️Sign Up Now ➡️ https://tlt.ink/octa Partner Code ➡️ 3788810

📊 GBPUSD continues to move in a downtrend The British pound (GBP) lost 0.25% on Wednesday as rising geopolitical tensions offset the impact of a topside U.K. Consumer Price Index (CPI) data. 👉 Possible effects for traders The escalation of tensions between Russia and Ukraine led to increased volatility in currency markets in the past two trading sessions, resulting in erratic price movements. GBPUSD fell towards session lows following reports that Ukraine fired missiles into Russian territory. Despite this, market movements have been relatively contained so far. With the latest inflation data showing services CPI aligning with the Bank of England's (BOE) projections, the impact on the policy outlook was minimal, supporting the case for a 25-basis-point rate cut by the BOE. After a decline, the U.S. dollar (USD) started to grow again, approaching a one-year high. The U.S. dollar gained over 2% after the presidential election. People expect Trump's new policies to accelerate inflation, so the Federal Reserve (Fed) might not lower interest rates anytime soon. At the same time, everyone's thinking about what Trump's tariff plans mean for other countries. Europe and China will likely feel the impact of implementing these tariffs. It's hard to bet against the U.S. dollar right now, according to Matt Simpson from City Index. People are also wondering if the Fed will still cut rates next month. There's about a 54% chance of the Fed reducing rates at the next meeting in December, down from 82.5% just a week ago, according to CME's FedWatch Tool. GBPUSD has been moving sideways Thursday morning. Today, market participants will be waiting for the U.S. Jobless Claims report at 1:30 p.m. UTC. Analysts expect the data to grow from 217,000 towards 220,000. If the numbers are higher than expected, they may support GBPUSD. Otherwise, the downtrend in the pair will likely continue. ➡️Sign Up Now ➡️ https://tlt.ink/octa Partner Code ➡️ 3788810

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0.097 💰

GBPJPY, 15-minute timeframe char GBPJPY retested the resistance level of 196.0000 👉Level explanation GBPJPY has been under buying pressure within the last couple of hours. The pair moved up to the resistance level of 196.000. 👉Possible scenario The best way to use this opportunity is to place a Sell order at 196.000. Set your stop loss at 196.450 above the previous high ($2.91 loss for 0.01 lot) and take profit at 195.350 ($4.19 profit for 0.01 lot). The risk-reward ratio for this order is 1:1.44. The upcoming news will not influence your orders within the mentioned period. ➡️Sign Up Now ➡️ https://tlt.ink/octa Partner Code ➡️ 3788810

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