Forex Update: USD/JPY Keeping Momentum
📰 Forex and Global Market News
**Market Overview:**
Today’s forex market reflects a cautious sentiment as geopolitical tensions and upcoming economic data weigh on trader confidence. The DXY stands at 98.99, down 0.0192%, indicating a slight pullback in the US Dollar’s strength.
**Key Currency Movements and Drivers:**
The Australian Dollar (AUD) remains subdued against the US Dollar (USD) as traders await critical inflation data that could influence the Reserve Bank of Australia’s policy stance. The EUR/GBP pair dipped to around 0.8710 following the UK’s retail sales data, which showed a surprising 0.5% month-over-month increase, defying expectations of a decline. Meanwhile, gold prices fell below $4,100, pressured by the USD’s rebound and uncertainty surrounding US-China trade talks.
**Central Bank Insights:**
Market participants are closely monitoring the upcoming US Consumer Price Index (CPI) release, which could provide insights into future Federal Reserve policy. The potential for a Trump-Xi meeting raises hopes for easing trade tensions, although the US-Canada trade negotiations have been abruptly terminated, adding to the market’s volatility.
**Closing:**
Overall, the forex market is navigating through a complex landscape of economic data and geopolitical developments, with traders poised for further direction as they await key inflation figures and trade discussions.
📅 Economic Calendar Events Today
All times are in US Eastern Time (ET)
| Date | Time | Cur | Imp | Event | Actual | Forecast |
|---|---|---|---|---|---|---|
| 2025-10-24 | 02:00 | 🇬🇧 | Medium | Core Retail Sales (MoM) (Sep) | 0.6% | |
| 2025-10-24 | 02:00 | 🇬🇧 | Medium | Core Retail Sales (YoY) (Sep) | 2.3% | 0.7% |
| 2025-10-24 | 02:00 | 🇬🇧 | Medium | Retail Sales (YoY) (Sep) | 1.5% | 0.6% |
| 2025-10-24 | 02:00 | 🇬🇧 | Medium | Retail Sales (MoM) (Sep) | 0.5% | -0.2% |
| 2025-10-24 | 03:15 | 🇪🇺 | Medium | HCOB France Manufacturing PMI (Oct) | 48.2 | |
| 2025-10-24 | 03:15 | 🇪🇺 | Medium | HCOB France Services PMI (Oct) | 48.7 | |
| 2025-10-24 | 03:30 | 🇪🇺 | Medium | HCOB Germany Manufacturing PMI (Oct) | 49.5 | |
| 2025-10-24 | 03:30 | 🇪🇺 | Medium | HCOB Germany Services PMI (Oct) | 51.1 | |
| 2025-10-24 | 04:00 | 🇪🇺 | Medium | HCOB Eurozone Manufacturing PMI (Oct) | 49.8 | |
| 2025-10-24 | 04:00 | 🇪🇺 | Medium | HCOB Eurozone Composite PMI (Oct) | 51.0 | |
| 2025-10-24 | 04:00 | 🇪🇺 | Medium | HCOB Eurozone Services PMI (Oct) | 51.2 | |
| 2025-10-24 | 04:30 | 🇬🇧 | Medium | S&P Global Composite PMI (Oct) | 50.6 | |
| 2025-10-24 | 04:30 | 🇬🇧 | Medium | S&P Global Manufacturing PMI (Oct) | 46.6 | |
| 2025-10-24 | 04:30 | 🇬🇧 | Medium | S&P Global Services PMI (Oct) | 51.0 | |
| 2025-10-24 | 05:15 | 🇬🇧 | Medium | BoE Deputy Governor Woods Speaks | ||
| 2025-10-24 | 06:30 | 🇷🇺 | Medium | Interest Rate Decision (Oct) | 17.00% | |
| 2025-10-24 | 08:00 | 🇷🇺 | Medium | CBR Press Conference | ||
| 2025-10-24 | 08:30 | 🇺🇸 | Medium | Building Permits (Sep) | ||
| 2025-10-24 | 08:30 | 🇺🇸 | Medium | Core CPI (YoY) (Sep) | 3.1% | |
| 2025-10-24 | 08:30 | 🇺🇸 | High | Core CPI (MoM) (Sep) | 0.3% | |
| 2025-10-24 | 08:30 | 🇺🇸 | High | CPI (YoY) (Sep) | 3.1% | |
| 2025-10-24 | 08:30 | 🇺🇸 | High | CPI (MoM) (Sep) | 0.4% | |
| 2025-10-24 | 08:30 | 🇨🇦 | Medium | New Housing Price Index (MoM) (Sep) | 0.2% | |
| 2025-10-24 | 08:45 | 🇪🇺 | Medium | German Buba President Nagel Speaks | ||
| 2025-10-24 | 09:45 | 🇺🇸 | High | S&P Global Manufacturing PMI (Oct) | 51.9 | |
| 2025-10-24 | 09:45 | 🇺🇸 | Medium | S&P Global Composite PMI (Oct) | ||
| 2025-10-24 | 09:45 | 🇺🇸 | High | S&P Global Services PMI (Oct) | 53.5 | |
| 2025-10-24 | 10:00 | 🇺🇸 | Medium | Michigan 1-Year Inflation Expectations (Oct) | 4.6% | |
| 2025-10-24 | 10:00 | 🇺🇸 | Medium | Michigan 5-Year Inflation Expectations (Oct) | 3.7% | |
| 2025-10-24 | 10:00 | 🇺🇸 | Medium | Michigan Consumer Expectations (Oct) | 51.2 | |
| 2025-10-24 | 10:00 | 🇺🇸 | Medium | Michigan Consumer Sentiment (Oct) | 55.0 | |
| 2025-10-24 | 10:00 | 🇺🇸 | High | New Home Sales (Sep) | 710K | |
| 2025-10-24 | 10:00 | 🇺🇸 | Medium | New Home Sales (MoM) (Sep) | ||
| 2025-10-24 | 13:00 | 🇺🇸 | Medium | U.S. Baker Hughes Oil Rig Count | ||
| 2025-10-24 | 13:00 | 🇺🇸 | Medium | U.S. Baker Hughes Total Rig Count |
**Overview:**
Today’s economic calendar features several high-impact events, particularly from the UK, Eurozone, and the US. Notably, the UK retail sales data and US CPI figures are expected to drive significant market movements.
**Key Releases:**
1. **UK Retail Sales (Sep)**: Core Retail Sales (MoM) at 0.6% (forecast not provided), YoY at 2.3% vs. 0.7% forecast, and Retail Sales (MoM) at 0.5% vs. -0.2% forecast. These strong figures suggest robust consumer spending, potentially supporting GBP strength.
2. **US CPI (Sep)**: CPI YoY at 3.1% (forecast not provided) and MoM at 0.4% (forecast not provided). These figures are crucial for gauging inflationary pressures and could influence Fed policy.
3. **PMI Data (Oct)**: Various PMI readings from the Eurozone and the US are due, with expectations for mixed results, particularly in manufacturing sectors.
**FX Impact:**
The GBP is likely to strengthen against the USD and EUR due to positive retail sales data. The USD may react to CPI figures, with potential volatility in USD pairs, especially if inflation deviates from expectations. The EUR could see mixed reactions based on PMI results, impacting EUR/USD and EUR/GBP pairs.
💱 Major Currency Pairs
| Name | Symbol | Price | Daily (%) | 5D (%) | 1W (%) | 1M (%) | 3M (%) | 6M (%) | YTD (%) | 12M (%) | MA50 | MA100 | MA200 | RSI | MACD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EUR/USD – Euro / U.S. Dollar | EURUSD | 1.1613 | -0.0688 | -0.7402 | -0.7402 | -1.7052 | -1.2175 | +2.1201 | +11.60 | +7.7222 | 1.1689 | 1.1660 | 1.1273 | 39.24 | -0.0025 |
| USD/JPY – U.S. Dollar / Japanese Yen | USDJPY | 152.87 | +0.1874 | +1.8292 | +1.8292 | +3.5586 | +3.9869 | +6.9898 | -2.6300 | +0.0635 | 148.88 | 147.61 | 147.95 | 66.38 | 0.9625 |
| GBP/USD – British Pound / U.S. Dollar | GBPUSD | 1.3330 | +0.0225 | -0.8595 | -0.8595 | -1.4380 | -1.3327 | +0.0283 | +6.2228 | +3.2235 | 1.3463 | 1.3485 | 1.3211 | 39.97 | -0.0030 |
| USD/CHF – U.S. Dollar / Swiss Franc | USDCHF | 0.7953 | +0.0252 | +0.4382 | +0.4382 | +0.4890 | +0.0541 | -4.0350 | -11.95 | -8.2424 | 0.7987 | 0.8017 | 0.8341 | 47.63 | -0.0008 |
| AUD/USD – Australian Dollar / U.S. Dollar | AUDUSD | 0.6507 | -0.1534 | +0.3795 | +0.3795 | -1.3762 | -1.3669 | +1.6166 | +4.6142 | -1.9439 | 0.6553 | 0.6538 | 0.6433 | 35.86 | -0.0022 |
| USD/CAD – U.S. Dollar / Canadian Dollar | USDCAD | 1.4011 | +0.1644 | -0.2492 | -0.2492 | +1.2421 | +2.7154 | +1.1041 | -2.3610 | +1.2597 | 1.3886 | 1.3791 | 1.3966 | 58.42 | 0.0043 |
| NZD/USD – New Zealand Dollar / U.S. Dollar | NZDUSD | 0.5756 | +0.0174 | +0.5061 | +0.5061 | -1.7244 | -4.6565 | -3.8742 | +2.0619 | -4.1655 | 0.5840 | 0.5919 | 0.5852 | 32.83 | -0.0034 |
**Overview:**
The Majors FX group is exhibiting a mixed trend, with the U.S. Dollar showing strength against several currencies. However, the overall sentiment remains cautious due to bearish signals in multiple pairs.
**Key Pairs:**
1. **USD/JPY:** Currently priced at 152.8660, this pair shows bullish momentum with a MACD of 0.9625 and an RSI of 66.38, nearing overbought territory. Traders should monitor for potential resistance around 153.00.
2. **EUR/USD:** Priced at 1.1613, this pair is in a bearish state with an RSI of 39.24 and a MACD of -0.0025, indicating weak momentum. Support is likely around 1.1550, and a break below could signal further declines.
3. **AUD/USD:** At 0.6507, this pair shows a bearish outlook with an RSI of 35.86 and a MACD of -0.0022. Watch for support near 0.6450, as a breach may lead to further downside.
**Trading Implications:**
For USD/JPY, bullish momentum suggests potential upside, while EUR/USD and AUD/USD indicate bearish trends. Traders should look for resistance
🔀 Cross Currency Pairs
| Name | Symbol | Price | Daily (%) | 5D (%) | 1W (%) | 1M (%) | 3M (%) | 6M (%) | YTD (%) | 12M (%) | MA50 | MA100 | MA200 | RSI | MACD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EUR/GBP | EURGBP | 0.8709 | -0.0918 | +0.0896 | +0.0896 | -0.3079 | +0.0804 | +2.0686 | +5.0302 | +4.3281 | 0.8682 | 0.8647 | 0.8529 | 48.07 | 0.0001 |
| EUR/JPY | EURJPY | 177.48 | +0.1185 | +1.0533 | +1.0533 | +1.7766 | +2.7036 | +9.2433 | +8.6262 | +7.7687 | 173.90 | 171.97 | 166.61 | 72.97 | 0.6713 |
| EUR/CHF | EURCHF | 0.9234 | -0.0325 | -0.3185 | -0.3185 | -1.2375 | -1.1783 | -2.0109 | -1.7555 | -1.1561 | 0.9339 | 0.9348 | 0.9384 | 18.93 | -0.0028 |
| EUR/AUD | EURAUD | 1.7847 | +0.0841 | -1.1066 | -1.1066 | -0.3234 | +0.1358 | +0.4638 | +6.6639 | +9.8473 | 1.7839 | 1.7836 | 1.7516 | 54.31 | 0.0023 |
| GBP/JPY | GBPJPY | 203.76 | +0.2125 | +0.9542 | +0.9542 | +2.0821 | +2.6069 | +7.0234 | +3.4340 | +3.2904 | 200.33 | 198.94 | 195.30 | 69.13 | 0.7811 |
| GBP/CHF | GBPCHF | 1.0601 | +0.0566 | -0.4208 | -0.4208 | -0.9400 | -1.2740 | -4.0060 | -6.4631 | -5.2839 | 1.0752 | 1.0809 | 1.1003 | 31.39 | -0.0034 |
| AUD/JPY | AUDJPY | 99.43 | +0.0382 | +2.1848 | +2.1848 | +2.0998 | +2.5611 | +8.7400 | +1.8551 | -1.8953 | 97.54 | 96.49 | 95.15 | 54.90 | 0.2905 |
| AUD/NZD | AUDNZD | 1.1303 | -0.1766 | -0.1396 | -0.1396 | +0.3418 | +3.4637 | +5.7521 | +2.5034 | +2.3174 | 1.1220 | 1.1046 | 1.0993 | 47.95 | 0.0026 |
| CHF/JPY | CHFJPY | 192.20 | +0.1689 | +1.3888 | +1.3888 | +3.0580 | +3.9404 | +11.50 | +10.59 | +9.0555 | 186.38 | 184.12 | 177.66 | 82.94 | 1.3876 |
| NZD/JPY | NZDJPY | 87.95 | +0.2176 | +2.3234 | +2.3234 | +1.7505 | -0.8769 | +2.8211 | -0.6507 | -4.1292 | 86.91 | 87.33 | 86.54 | 57.18 | 0.0551 |
**Overview:** The Crosses FX group shows mixed signals, with several pairs indicating bullish momentum while others remain neutral to bearish. The general trend leans towards a cautious bullish outlook, particularly among pairs with strong MACD readings.
**Key Pairs:**
1. **EUR/JPY:** Currently at 177.4800, with an RSI of 72.97 indicating overbought conditions. The positive MACD of 0.6713 suggests strong bullish momentum, but traders should watch for potential price corrections.
2. **CHF/JPY:** Priced at 192.1990, this pair has an RSI of 82.94, indicating extreme overbought levels. The MACD at 1.3876 reinforces the bullish trend, yet caution is advised due to potential overextension.
3. **EUR/CHF:** Trading at 0.9234, it shows an RSI of 18.93, signaling oversold conditions, and a negative MACD of -0.0028, indicating bearish momentum.
**Trading
🌍 Exotic and Emerging Market Currencies
| Name | Symbol | Price | Daily (%) | 5D (%) | 1W (%) | 1M (%) | 3M (%) | 6M (%) | YTD (%) | 12M (%) | MA50 | MA100 | MA200 | RSI | MACD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| USD/TRY – U.S. Dollar / Turkish Lira | USDTRY | 42.05 | +0.1100 | +0.3783 | +0.3783 | +1.5358 | +3.7468 | +9.4749 | +19.12 | +22.72 | 41.41 | 40.74 | 39.07 | 96.74 | 0.1684 |
| USD/ZAR – U.S. Dollar / South African Rand | USDZAR | 17.31 | +0.0266 | -0.1238 | -0.1238 | +0.4986 | -1.6982 | -7.6553 | -7.7320 | -2.6001 | 17.43 | 17.60 | 18.00 | 52.42 | -0.0149 |
| USD/THB – U.S. Dollar / Thai Baht | USDTHB | 32.74 | -0.2133 | +0.7385 | +0.7385 | +2.6976 | +1.4250 | -1.9467 | -4.0980 | -3.0730 | 32.29 | 32.39 | 32.98 | 61.01 | 0.1493 |
| USD/SEK – U.S. Dollar / Swedish Krona | USDSEK | 9.3766 | +0.0075 | -0.4145 | -0.4145 | +0.4504 | -1.5753 | -2.5018 | -14.94 | -11.49 | 9.4353 | 9.5048 | 9.8519 | 51.95 | 0.0041 |
| USD/NOK – U.S. Dollar / Norwegian Krone | USDNOK | 9.9916 | +0.2589 | -0.6631 | -0.6631 | +1.1239 | -1.2633 | -4.1003 | -11.79 | -9.0532 | 10.01 | 10.07 | 10.40 | 53.05 | 0.0152 |
| USD/DKK – U.S. Dollar / Danish Krone | USDDKK | 6.4337 | +0.0856 | +0.7880 | +0.7880 | +1.8447 | +1.3277 | -2.0091 | -10.23 | -7.0111 | 6.3868 | 6.4012 | 6.6322 | 61.96 | 0.0147 |
| USD/MXN – U.S. Dollar / Mexican Peso | USDMXN | 18.40 | +0.0266 | -0.1856 | -0.1856 | +0.2703 | -0.7684 | -6.1423 | -10.84 | -7.2425 | 18.51 | 18.65 | 19.36 | 47.54 | -0.0168 |
| USD/PLN – U.S. Dollar / Polish Zloty | USDPLN | 3.6415 | +0.0550 | +0.3530 | +0.3530 | +1.0523 | +0.6941 | -2.9883 | -11.34 | -9.6325 | 3.6388 | 3.6493 | 3.7642 | 53.04 | 0.0024 |
| USD/HUF – U.S. Dollar / Hungarian Forint | USDHUF | 335.58 | -0.0089 | +0.7524 | +0.7524 | +1.7554 | -0.6954 | -5.9866 | -15.04 | -10.20 | 335.20 | 339.40 | 355.58 | 58.41 | 0.0996 |
| USD/CZK – U.S. Dollar / Czech Koruna | USDCZK | 20.94 | +0.1396 | +0.9696 | +0.9696 | +2.1631 | +0.4047 | -4.4965 | -13.31 | -10.52 | 20.83 | 21.01 | 22.00 | 61.43 | 0.0313 |
**Overview:** The Exotic FX group shows mixed signals with a dominant bullish trend in select pairs, particularly USD/TRY, which is significantly overbought.
**Key Pairs:**
1. **USD/TRY:** Currently trading at 42.0548, the RSI at 96.74 indicates extreme overbought conditions, suggesting a potential reversal. The positive MACD (0.1684) confirms bullish momentum but caution is warranted due to overextension.
2. **USD/THB:** Priced at 32.7400, the RSI at 61.01 suggests a neutral-bullish stance, while the positive MACD (0.1493) indicates ongoing bullish momentum.
3. **USD/DKK:** At 6.4337, the RSI at 61.96 also reflects a neutral-bullish outlook, with a marginally positive MACD (0.0147).
**Trading Implications:** For USD/TRY, watch for resistance around 43.00. A pullback could occur if
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