There are just a couple to take note of on the day, as highlighted in bold.

And they are both for EUR/USD at the 1.0775 and 1.0850 levels. The expiries are sandwiching the spot price at the moment with price action this week largely contained in between 1.0780 through to 1.0825. As such, the expiries will add to those defensive layers on either side.

That being said, the euro side of the equation will come into focus with plenty of CPI and GDP data in the day(s) ahead. So, just be wary of that.

In terms of technicals, the pair is consolidating somewhat after testing the August low of 1.0777. Buyers are holding on somewhat with the near-term chart also reflecting that, with price action now just above its 100 and 200-hour moving averages of 1.0809-15. But I would argue getting above the Friday high of 1.0839 will do more to convince of a potential turnaround for buyers. So, keep that in mind as well.

For more information on how to use this data, you may refer to this post here.

There are a couple to take note of, as highlighted in bold.

The first one is for EUR/USD at the 1.0850 level and that is likely to limit price action until we get to the euro area inflation data later. The numbers there offers a risk to the single currency, but there is also still a ceiling from the 200-day moving average at 1.0868. That will be a key technical level to watch in the day ahead.

Then, there is one for USD/CHF at the 0.8650 level. With price action holding below the 100-day moving average of 0.8677 in the past few days, the expiries here could keep things more locked in until traders feel comfortable to chase the next key technical push in the pair. Just be wary that there is another large set of expiries at the same level for tomorrow too.

And lastly, there is one for EUR/GBP at the 0.8350 level. It isn't one that holds much technical significance but could offer a bit of a floor to price action after the rise yesterday, in which the pound was dragged down amid the UK budget while the euro perked up on CPI and GDP data.

For more information on how to use this data, you may refer to this post here.

Justin is away for today. This is my sad imitation of his awesome option expiry post ;-)

Justin will be back on Monday.

EUR/USD

• 1.0900 (EUR1.1bn), 1.0840 (EUR863m)

USD/CAD

• 1.3940 (US$693m), 1.3885 (US$650m), 1.3900 (US$457m)

GBP/USD

• 1.2900 (GBP638m), 1.2850 (GBP600.4m), 1.2800 (GBP490m)

AUD/USD

• 0.6700 (AUD451m)

NZD/USD

• 0.6100 (NZD720m)

USD/CNY

• 7.1500 ($854m)

EUR/GBP

• 0.8340 (EUR719m), 0.8400 (EUR328m), 0.8200 (EUR305m)

For more information on how to use this data, you may refer to this post here.

There are a couple to take note of on the day, as highlighted in bold.

The first one is for EUR/USD at the 1.0900 level. The figure level isn't one that holds any technical significance but the expiries could well help to box in price action in the session ahead. That without much fresh headlines involving the US election in the meantime. However, with the dollar under pressure, there is still a chance of European traders following through on the earlier price action. So, that's something to be wary about.

Then, there is one for AUD/USD at the 0.6600 level. The expiries are pretty huge and sits near the 200-hour moving average of 0.6599 currently. But the pair is largely driven by dollar dynamics to start the week, with the greenback opening with a gap down on US election sentiment. That is still the key driver to watch in the session(s) ahead but just note of the 200-day moving average at 0.6627 for the pair. That will be the bigger key level to watch on the charts for now.

For more information on how to use this data, you may refer to this post here.

There are just a couple to take note of, as highlighted in bold.

And they are for EUR/USD at the 1.0850 and 1.0900 levels. Considering the focus on the US election, this will keep price action more boxed in going into European trading and before we get to the election rush later in the day.

Besides that, market sentiment will be largely driven by election headlines over the next few sessions more so than anything else.

For more information on how to use this data, you may refer to this post here.

There is just one to take note of on the day, as highlighted in bold. But on a day like this, the influence of the expiries is far from the first thing in driving or impacting trading sentiment. It's all about the US election and the momentum flows riding from the results and emotions. As such, I wouldn't place much emphasis on the large one at 1.0725 currently for EUR/USD.

For more information on how to use this data, you may refer to this post here.

There are a couple to take note of, as highlighted in bold.

They are both for EUR/USD at the 1.0725 and 1.0775 levels. To some degree, the expiries might just lock price action in between these levels but it's all about post-election sentiment now. And momentum flows will be the key driver of the moves, in particular the dollar. For now though, the greenback is seeing a slight pullback to yesterday's gains. So, the ones at 1.0775 could help to just keep a lid on things until we get to US trading at least.

For more information on how to use this data, you may refer to this post here.

There are just a couple to take note of on the day, as highlighted in bold.

And again, they are all for EUR/USD layered in between 1.0750 through to 1.0800. Post-election sentiment is still the name of the game in driving FX flows now, so the expiries are just secondary drivers alongside everything else at the moment. That being said, they could play a role in keeping price action more boxed in until we get to US trading again later.

There aren't any key risk events on the calendar to really impact EUR/USD sentiment. So, it's all about how the post-election flows will settle as we look towards the end of the week.

For more information on how to use this data, you may refer to this post here.

There is just one to take note of, as highlighted in bold.

That being for EUR/USD at the 1.0700 level. The daily lows last week were held by the figure level, so the expiries will add another layer to that as we get the new week underway at least. With the bond market absent to start the week, there might not be too much appetite for traders to chase any outsized moves.

For more information on how to use this data, you may refer to this post here.

There are just a couple to take note of on the day, as highlighted in bold.

And they are both for EUR/USD at the 1.0600 and 1.0625 levels. The pair is being pressured to the downside, touching its lowest levels since April now as the dollar continues to rampage forward. As such, that will put added emphasis on key support from the April low of 1.0601. The expiries above will just add a bit of a defensive layer as well, at least for the session ahead.

There will also be another notable one at 1.0600 for tomorrow, so just keep that in your back pocket in case. But for now, the post-election dollar sentiment continues to be the number one driver.

For more information on how to use this data, you may refer to this post here.

As the North American session begins, the bond traders return after a day off in observance of Veterans Day. Yields are higher to start their trading week with the 2 year up 6.5 basis points at 4.319% and the 10 year up 6.3 basis points at 4.371%. The 2 year yield has moved to a new high going back to July 31 today (4.336%). For the 10 year, it traded as high as 4.773% last week, but fell into Friday with the low reaching 4.558% before bouncing modestly on Friday. That upside has reached 4.64% today - off the low but below the high from last week.

Bitcoin moved to a high of $89,983 today - a new record - but has come off and trades at $86,430 currently. The low reached $85208 today in volatile trading.

Oil is higher after falling over 3% lower yesterday. The price is up 43% or 0.64% at $68.52 currently. The high reached $68.76 and a low at $67.78.

Gold is down another $11 or -.045% at $2607.28. The low reached $2589.80 before bouncing.

In the US stock market, the major indices are marginally higher after record closes across the three major indices. The Russell 2000 which has not reached a high since July 2021 got within shouting distance of it record at 2437.08. The high yesterday reached 2441.72. The Dow futures are imploring a gain of 78 points. The S&P is up 1.65 points and the Nasdaq index is now up 7.91 points.

There will be several Fed speakers today with Governor Waller, Minneapolis Fed Pres. Kashkari, Philadelphia Fed Pres. Parker, and Richmond Fed Pres. Barkin all scheduled to speak

ECB policymaker Olli Rehn emphasized that while the direction of the ECB’s monetary policy is clear, the pace of any changes will be data-dependent. The economic outlook, impacted by a struggling manufacturing sector, has deteriorated. Rehn suggested that if disinflation continues, it could support additional rate cuts, with the ECB potentially moving away from restrictive policy territory by spring 2025. He warned against protectionism, noting that tariffs would have a medium-to-long-term impact and are inherently inflationary. With growth in the euro area expected to remain sluggish and downside risks prevalent, Rehn awaits the December projections for a clearer assessment of the economic landscape.

EURUSD: The selling in the EURUSD continue as a less friendly US with Pres. Elect Trump, spell slower growth with increased tariffs the concern. Technically, the price initially moved higher in the Asian session but found willing sellers near the low of the swing area between 1.0663 and 1.06703. That was swing lows in June 2024. Staying below kept the sellers in control, and they pushed lower. The price has since moved down to a low of 1.0606 which tests the lows from April when a series of swing lows bottomed the pair. Those levels are also the lows for the year (going back to October 2023).

USDJPY: The USDJPY rose yesterday and then stalled in the US session between 153.59 to 153.88 (swing area). Recall, the 153.88 level was a swing high from July 31. The highs from October 28 and October 29 was at 153.88 too. Today, the price moved lower and below the swing area low, BUT found support at the 61.8% of the move down from the July high. That level comes in at 153.397. Going forward, that hold increases that technical levels importance as support. Move below would increase the bearish bias in the short term at least.

On the topside, the price has now moved back above the 153.88 level (bullish). If the price can stay above that level now, that would be the most bullish technical scenario as buyers show their strength on the break. On the topside, the 154.54 up to 155.09 would be the next target area to stretch towards. Get above that area over time, and it adds to the bullish bias. Buyers making a play. Can they keep the momentum going?

GBPUSD:The GBPUSD fell below the lows from the last 2 weeks (last week low was at 1.28329) and sellers jumped, pushing the price through the 200 day MA at 1.28178. The breaks are more bearish and the low price reached 1.27915 and has bounced. The price has traded above and below the 200-day MA at 1.28179, but has so far stayed below the low from last week at 1.28329. If the price moves back above that level and momentum back to the upside is able to get above 1.2844 and the 50% of the move up from the April low at 1.2866, the buyers are showing some strength and the sellers will start worrying about the failures more and more. Conversely, if the price can stay below the 1.2832 and 1.2844 that keeps the sellers confidence high, but gettng below the 200-day MA is still required again. The price is currently trading near the 200-day MA but remains below 1.28329.

USDCHF: The USDCHF extended above the 200 day MA at 0.88176 and also a swing area from 0.88187 to 0.8825. That was a bullish move and the price moved to a high of 0.88303 but failed. The price is back below the 200 day MA and swing area. The price is trading near 0.8800 (0.8802 is the low). ON the downside the 50% is at 0.87986. If that is broken, then the swing area, the 200 day MA and the 50% failed. That should give buyers cause for pause as the buyers had their shot, and they missed. But the price still needs to get below 50%.

Hello, this is Itai Levitan at ForexLive.com. Today, I’m diving into Natural Gas Futures (NG), which are trading around 2.92 as of yesterday's close. This analysis will be relevant to those of you looking at CFDs, futures themselves, or stocks related to natural gas. Here’s a detailed view of my approach:

Natural Gas Futures Overview

Currently, we’re seeing Natural Gas Futures in a significant channel on the weekly time frame. There’s potential for a bullish breakout from a large bull flag formation, highlighted by the recent piercing through the upper edge of this channel. However, we’re still in uncertain territory—it’s possible the price may reverse back down, retesting the flag before making any decisive move.

Dip Buying Extreme Targeting

I’m looking closely at the potential for an extreme dip buying opportunity in natural gas. When I say “extreme dip buying,” I’m talking about setting up a longer-term, strategic plan that goes beyond typical levels. Instead of just waiting for an undefined "deep drop," I'm identifying specific price levels that could offer remarkable buying opportunities if the market hits them.

Long-Term Support Levels to Watch

Here’s what I'm focusing on for a deeper dip buy:

1. 1.612 (Low of 2016) – This level may present an attractive medium-term long position, suitable for swing trades.
2. 1.44 (Low of 2020) – Similar to 1.612, this level could offer a profitable swing opportunity, though not necessarily for a prolonged hold.

While these are appealing points for shorter-term trades, I recommend partial profit-taking here to mitigate risk if the price reverses sharply.

Generational Low Opportunity at 1.25

For the patient, long-term investors, my primary area of interest lies around 1.25—the historic low from 1995, nearly 30 years ago. This level represents a “generational low,” providing a triple layer of support:

• The lower bound of the channel.
• The major, longer-term channel trendline.
• The historic 1.25 support level from 1995.

If natural gas reaches this area, it could be a highly attractive long-term buy. I suggest setting several buy orders around 1.25 to capture a position here and holding for substantial potential upside. Patience will be key—having some trading capital reserved for this area could be a game-changing strategy.

The Ultimate Extreme at 1.04

If something drastic occurs and the price reaches 1.04, the all-time low from the 1990s, it would represent a multi-generational low. This level would likely attract significant buying interest from funds, institutions, and individual investors. Similar to the parity level we saw with EUR/USD, this psychological round number could spur major accumulation and serve as an unparalleled buying opportunity.

Summary and Final Thoughts on Natural Gas and Exteme Dip Buying

In summary:

• Stay Patient: This strategy involves waiting for rare, extreme dip-buying levels.
• Allocate Capital Strategically: Save some ammunition for these lower levels, where the upside potential is considerable.
• Monitor Support Levels Closely: Levels like 1.25 and 1.04 represent deeply discounted entry points that could yield long-term gains.

Follow ForexLive.com for additional insights for investors and traders, and let’s keep an eye on these setups. Extreme opportunities don’t come often, so be prepared and thank me later!

BofA suggests staying short on CHF, particularly against USD and GBP, as post-election volatility subsides and G10 rate repricing supports a weaker CHF. While political risks may pose a minor obstacle, BofA sees CHF depreciation as likely due to policy divergence, with recent fiscal stimulus in the UK reinforcing the case for long GBP/CHF.

Key Points:

• CHF Weakness Expected: Following the US election, BofA expects normalization in volatility and G10 rate adjustments, which support a weaker CHF heading into year-end.

• Policy Divergence and SNB Cuts: CHF depreciation has been driven by Swiss policy moves, including an SNB rate cut, and ongoing yield compression. Increased Swiss inflation has also pressured CHF.

• Positioning in USD/CHF and GBP/CHF: BofA favors short CHF positions in USD/CHF and recently opened a long GBP/CHF position via a three-month ratio call spread, driven by UK fiscal stimulus enhancing policy divergence.

• Risk Management Considerations: While CHF shorts are promising, BofA advises a cautious approach due to potential political uncertainties that could affect CHF.

Conclusion:

BofA recommends holding short CHF positions in USD/CHF and GBP/CHF, as volatility recedes and policy divergence favors a weaker CHF. Though political noise may cause short-term volatility, BofA sees CHF depreciation persisting into year-end, with UK fiscal moves strengthening the case for GBP/CHF.

For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here.

The US CPI will be released tomorrow at 8:30 AM ET. What is expected?

• October Headline CPI expected to rise by 0.2% MoM, which is the same as last month. The forecasted range is 0.1 to 0.3%.
• YoY Headline CPI expected to increase to 2.6%, up from 2.4%, with a forecast range of 2.3 to 2.6%. A change of 0.0% will fall out of the YoY calculation this month.
• Core CPI projected to rise 0.3% MoM and 3.3% YoY, matching the previous month. The forecast range is 0.2 to 0.3% MoM and 3.2 to 3.4% Y/Y. A year ago, a gain of 0.2% falls out of the calculation.

The US PPI will be released on Thursday with the expectations of 0.2% for the MoM headline and 0.3% for the core measure.

Fed's Barkin this morning on inflation kept it simple saying::

• Inflation might be coming under control or might risk getting stuck above Fed 2% target.

Kashkari had more to say about inflation today with different influences. He said.

• Uncertainty exists around the impact of new government policies on inflation.
• A one-time tariff increase is transitory but could become a sustained issue if it escalates, introducing inflation risks.
• Immigration policy changes could have a significant effect on inflation, but the outcome is uncertain.
• Inflation from new leases will take a couple of years to work through the system.
• Housing inflation is expected to return to normal levels, but it may take a year or two.
• If inflation surprises to the upside before December, it may affect policy decisions.
• Current long-term yield increases don’t seem to reflect heightened inflation expectations.
• Higher productivity could suggest a higher neutral rate, potentially influencing future rate cuts.

• US indices close lower on the day. No new records today.
• Bitcoin trades above $90,000 for the first time. It broke the $80,000 level on Monday
• US CPI to be released tomorrow at 8:30 AM. Expectations are for 0.2% MoM
• It's not a pretty picture in China
• Fed's Kashkari: The fundamentals seems strong and I'm optimistic that will continue
• BofA: Life don't come easy for CHF: What's the trade?
• US 10 year yield looks to close at the highest level since July 1
• Major European indices are closing sharply lower
• John Paulson drops out of the running for Treasury Secretary
• New York Fed: 1-year inflation expectations 2.9% versus 3.0% last month
• Fed's Barkin: Fed in position to respond appropriately regardless of how economy evolves
• Fed's Waller: Makes no comments on economy or monetary policy outlook
• And they are off. US stocks are marginally higher in the early trading
• LiteFinance Becomes the Official Trading Partner of Leicester City Football Club
• Kickstart the FX day. A look at the EURUSD, USDJPY and GBPUSD from a technical perspective
• Canada Sept building permits +11.5% vs +1.7% expected
• Forexlive European FX news wrap: Not much action as we await the US CPI release tomorrow

Markets:

• Bitcoin trades to $90,000 for the first time, two days after passing $80,000. The high reached $90,243
• WTI crude trades down $0.07 at $67.97
• 2 year yield 4.338%, up 8.4 basis points. 10 year yield 4.421%, +11.4 basis points.
• Gold down -$20.78 or -0.79% at $2598.58. Lowest level since September 20
• S&P 500 -17.36 points or -0.29% at 5983.99.
• Nasdaq index down -17.36 points or -0.09% at 19,281.40. Both the Nasdaq and the S&P closed by the exact same point amount....
• Russell 2000 tumbled -43.13 points or -1.77% at 2391.84

In the US the NY Fed Survey showed inflation expectations moving lower with the one year inflation at 2.9% vs 3.0% estimate. That is the lowest in 4 years. The 3 and five years measures also declined with the 3 year down to 2.5% from 2.7%, and the 5 year down to 2.8% from 2.9%.

In Canada building permits soared by 11.5% after -6.3% decline last month. Overall permits were the second-highest level since the start of the new series in January 2017 but it's more of a one-off around government spending than anything related to the economy. Ontario's institutional component received big contributions from construction for long-term care facilities across the province and a hospital permit in Prince Edward County. Residential building is holding up on the multi-family side as the pipeline of condos continues to work its way through but single-family has flatlined.

The US bond market was open after Monday's Veteran's Day holiday and selling was the order of the day as traders price in the inflationary and growth implications of a GOP sweep (and perhaps increased deficits too). The 10-year yield rose close to 12 basis points. The 2 year is up close to 9 basis points.

The USD moved higher with the greenback moving the most vs the GBP (0.95%).. The GBPUSD moved to the lowest level since August 8 and traded below the 61.8% retracement of the move up from the April low. That level comes in at 1.27322. The current price is trading just above that level into the close for the day.

The EURUSD is rallying modestly into the close but still saw the dollar higher by 0.26% versus the EUR. The pair moved below the 1.0601 level which took to price to a new low for 2024. The low could only get to 1.0594 before bouncing higher into the close. The sellers in the EURUSD had their shot. They missed.

The USDJPY is closing higher by 0.61% and into a swing area between 154.54 and 155.21. The high price reached 154.92 extending above the high price from last week at 154.70. The price is trading at 154.62 into the close. Buyers are in control. Can they extend to the high target at 155.21.

The USDCAD traded to the highest level going back to October 2022 when the price extended to 1.3977. The high price today reached 1.3966 just 11 pips short of that high. The price is trading at 1.3949 going into the end of the trading day.

Gold continues its move to the downside after reaching record levels at the end of October at $2790.07. The price has since fallen -6.89% to $2597.88.

Bitcoin's sprint to the topside continued today with the price reaching above $90,000 for the first time ever and just 2-days after breaking above the $80,000 level. The high price reached $90,243. The price has come off that lofty level and trades at $88,092.

Barclays has issued a note suggesting that the re-election of Trump is unlikely to significantly impact oil market fundamentals in the near term.

The bank believes that current market dynamics are relatively stable and does not foresee major shifts tied to potential changes in U.S. leadership.

Barclays is recommending a long position on December 2025 Brent call spreads. The bank notes that volatility has recently decreased, and it perceives market sentiment as overly focused on downside risks, or the "left tail." In contrast, Barclays believes the risks are more balanced, especially in light of recent improvements in oil market fundamentals and the possibility of a more confrontational geopolitical landscape.

Australia data - Wage Price Index for Q3 2024:

+0.8% q/q for the third consecutive quarter

• expected +0.9%, prior +0.8%
• Both the private sector and the public sector rose 0.8%, seasonally adjusted, for the quarter.

+3.5% y/y, lowest annual rise for the series since December quarter 2022 and followed four consecutive quarters of annual wage growth equal to or above 4%.

• expected +3.6%, prior +4.1%

---

The Australian Bureau of Statistics (ABS) publishes the Wage Price Index (WPI) quarterly, measuring changes in the price of labor, unaffected by shifts in workforce composition, hours worked, or employee characteristics.

The ABS provides detailed WPI data, including breakdowns by industry and sector, offering insights into wage trends across Australia's economy.

CreationNetwork.ai, a groundbreaking digital platform, today announces its public launch, redefining digital engagement for businesses, content creators, and influencers. As an all-in-one solution for content creation, e-commerce, social media management, and digital marketing, CreationNetwork.ai combines 22+ proprietary AI-powered tools and 29+ platform integrations to deliver the most extensive digital ecosystem available.

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CreationNetwork.ai’s suite of tools spans every facet of digital engagement, equipping users with powerful AI technologies to streamline operations, engage audiences, and optimize performance. Each tool is meticulously designed to enhance productivity and efficiency, making it easy to create, manage, and analyze content across multiple channels. Key tools include:

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About CreationNetwork.ai

CreationNetwork.ai (https://creationnetwork.ai/) is a leader in AI-driven content creation, social media management, and e-commerce solutions, leveraging blockchain technology to empower its users with advanced digital engagement tools. Through a broad spectrum of AI tools and extensive integrations, CreationNetwork.ai is dedicated to transforming the way brands, businesses, and creators connect with audiences in an ever-evolving digital world.

Cryptocurrency payments have made financial transactions faster and safer. Forex brokers that integrate a cryptocurrency payment gateway can provide these advantages and more for their users. Crypto payment integration results in real-time transaction settlement, lower fees, and improved fraud prevention. These benefits increase forex brokers' operational efficiency, help them attract a global clientele, and remove geographical barriers. To grow and scale as a broker in this dynamic era, blockchain technology must be applied strategically to increase a business’s competitive edge, and drive scalability. Discover how accepting crypto payments can improve your forex brokerage business in this article.

Increased Global Reach

Forex brokers can expand their global reach by integrating a cryptocurrency payment gateway. Research by Oxprocessing and B2Broker shows that forex brokers saw a 20-30% increase in their client base when they started accepting cryptocurrency payments.

The rising forex broker client base after crypto adoption stems from the popularity and user realization of the benefits of crypto like real-time transaction settlement, unlike banks. The lower fees, flexibility, and additional security also attract many users as we shall see subsequently.

Accepting crypto through payment gateway solutions like Onchainpay.io connects a forex broker and its customers with the innovation and flexibility offered by decentralized finance. Crypto payment gateway integration is crucial in expanding and getting a bigger global customer market share.

Improved User Security

Integrating a proven and transparent cryptocurrency payment gateway like Onchainpay.io which uses two-factor authentication, permissioned API access, and real blockchain addresses to secure user funds offers all the advantages.

Advanced encryption and decentralized verification through blockchain technology ensure secure transactions and minimize fraud. No one can alter blockchain transactions as they are recorded on a public ledger that is almost impossible to counterfeit.

Transactions are traceable and secure onchain, increasing user confidence in the forex brokers who adopt crypto payments. With crypto payment, transactions occur in simple sends or receives between wallet addresses without intermediaries that can delay the process. By adopting crypto payment forex brokers can establish user trust and stand out from the competition.

Transaction Speed and Overall Efficiency

Real-time payment settlement is a game changer for forex brokers. Payment gateway comparison experts Crypto Payment Gateways note that while the average traditional payment processing time takes 7-14 days, cryptocurrency payments settle in a few seconds to a few minutes.

Crypto payments increase speed, boost operational efficiency, and drive forex broker customer satisfaction by providing quick access to funds. Lower transaction fees from crypto payment integration lead to massive cost savings. Forex brokers can operate more efficiently, save customer time, and remain at the forefront of innovation by integrating state-of-the-art crypto payment processing solutions like Onchainpay.io.

Affordable Fees

Analysis from Blockdata shows that cryptocurrency payments can cut transaction costs by 70% compared to traditional methods. Paying with known methods like credit cards often incurs 1.5% to 3.5% in transaction fees. Cryptocurrency transactions using payment methods like Bitcoin cost about 0.01%-1%.

Reduced transaction cost presents a business advantage for brokers who can also attract customers seeking affordable trading options. With blockchain technology forex brokers can offer real-time and competitive transaction costs as a strategic move to increase overall user experience.

Seamless Cross-Border Payment Processing

Decentralized finance offers direct and seamless cross-border payment settlement with lower fees and zero delays. Through digital currency payment integration, forex brokers can attract a global user base interested in innovation and opportunities in decentralized finance. Crypto payment integration makes cross-border transactions more efficient with no intermediary and additional security. With it, forex brokers can enjoy frictionless cross-border payment processing and devote more time to expanding other aspects of their business.

Easy Scalability

From declined card transactions to restricted regions, the limitations of traditional payment systems impact forex brokers’ ability to scale. Brokers can tap into the global market and attract clients across the globe by adopting crypto payment solutions. The flexibility of crypto integration also helps brokers build adaptable business models and solutions that serve their client base perfectly. These benefits coupled with cost savings and instant settlement mentioned before improve brokerage efficiency and user satisfaction helping forex brokers grow their business beyond expectations.

User Satisfaction and Competitive Edge

Crypto Wallet

Self-custody wallets are a huge advantage for crypto users. Imagine the ability to own and control 100% of your assets. Crypto wallets make this possible and withdrawing forex profit into self-custodial crypto wallets is a dream for most participants in the financial market today. Crypto wallets are a convenient option that improves customer satisfaction. Hence brokers who accept crypto win more customers and stand out from the crowd of available options.

Crypto Adoption

Through crypto payment and transaction settlement integration, forex brokers can get along with the current trend and preference for digital assets. A report released by Fxleaders notes that traders and investors are ahead of the pack in the rapid race toward cryptocurrency adoption which has already attracted over 300 million users globally.

Profit Withdrawal and Deposit

The last thing traders want after the close shave of almost getting drowned due to market volatility is waiting forever to withdraw. Instant settlement cryptocurrency payment gateways like Onchainpay.io provide an excellent payment processing solution for instant deposits and withdrawals. With real-time secure payments on Onchainpay.io, users enjoy a better experience while the forex broker competes favorably among the available alternatives.

Smart Contracts

Smart contracts are self-executing codes on the blockchain designed to streamline user experience. They ensure secure transactions as they cannot be altered once deployed, and are transparently verifiable onchain. Recurring payment solutions on Onchainpay.io, for example, are powered by a series of secure smart contracts and can also be helpful in automated withdrawals for trader’s discipline and plan.

Conclusion

Cryptocurrency payments save time lower cost and offer competitive advantages to forex brokers. It enables instant settlement of cross-border transactions and enhances user experience with a range of options such as self-custody which gives users complete control over their assets. Onchainpay.io’s cryptocurrency payment gateway and merchant solution are designed to help brokers provide secure, flexible, and reliable crypto withdrawals and deposit options for their customers. Onchainpay is simple to integrate and works perfectly with almost all known payment setups. With customizability, segregated payments, and automatic settlements Onchainpay.io is the best thing since sliced bread for forex broker payment.

In a big step for decentralized technology, Deutsche Telekom MMS has partnered with Meta Pool as part of its Enterprise Node Operator (ENO) program, becoming the first telecommunications giant to operate a validator node on the NEAR blockchain. This collaboration not only enhances NEAR’s network security and decentralization but also signals a new era of enterprise-driven blockchain adoption, powered by Meta Pool.

Meta Pool, a leader in liquid staking solutions on NEAR, developed the ENO program to connect established industry leaders with the decentralized ecosystem. By joining this initiative, Deutsche Telekom provides NEAR with enterprise-grade infrastructure that boosts both network reliability and performance. This partnership marks a milestone in Meta Pool’s mission to transform the decentralized ecosystem, elevating NEAR’s technology to new levels of scalability and security through trusted industry partnerships.

About Meta Pool

Meta Pool is a multi-chain liquid staking ecosystem and a DAO with multi-chain governance on NEAR and Ethereum. It offers Vote-to-Earn governance rewards, Liquid Staking Tokens on Ethereum, NEAR, Solana, Aurora, ICP, and Q, and Solana's first restaking aggregator, supporting mpSOL, jitoSOL, bSOL, and SOL. Meta Pool makes liquid staking simple and accessible across multiple blockchains, with plans for further expansion.

A Visionary Collaboration for Decentralized AI and Blockchain Innovation

Meta Pool’s (https://www.metapool.app/) ENO program was designed to bridge traditional and decentralized worlds, creating a robust and resilient network on NEAR through partnerships with industry leaders. By joining this initiative, Deutsche Telekom empowers NEAR with the infrastructure to support decentralized applications at scale, opening doors for new advancements in AI, blockchain scalability, and multi-chain interoperability. With Meta Pool’s ENO program as the foundation, Deutsche Telekom is taking a leap toward reimagining the future of decentralized networks.

"NEAR stands out as an ecosystem that shares our vision of combining blockchain and AI with a decentralized approach that prioritizes data privacy and security," said Oliver Nyderle, Head of Digital Trust & Web3 Infrastructure at Deutsche Telekom MMS. "Together, we’re breaking new ground and building a future that connects these technologies in ways never seen before."

Meta Pool, Deutsche Telekom, and NEAR: Building a User-First, Decentralized Future

In an era where data sovereignty and transparency are paramount, Meta Pool’s ENO program brings companies like Deutsche Telekom into the NEAR network, securing blockchain and AI solutions that empower users. This partnership sets the stage for a privacy-focused, decentralized future, championed by industry leaders committed to the transformative power of blockchain.

“This partnership is a turning point for NEAR, Meta Pool, and our Enterprise Node Operator program,” said Claudio Cossio, Meta Pool’s co-founder. “With Deutsche Telekom’s world-class infrastructure expertise, we’re taking NEAR’s protocol to unprecedented levels of decentralization and resilience.”

NEAR Protocol - A Unique Foundation for Decentralized Innovation

NEAR is a high-performance, environmentally sustainable Layer 1 blockchain built to host decentralized applications for millions of users. Thanks to its unique sharding technology, NEAR enables fast, energy-efficient transactions, making it a “green” alternative within blockchain technology. NEAR aligns with Meta Pool’s mission to advance accessible, eco-friendly blockchain solutions that support a more inclusive digital future.

Through Meta Pool’s ENO program, Deutsche Telekom gains access to cutting-edge blockchain insights, reinforcing its leadership in decentralized AI. This partnership reflects a shared commitment to exploring Web3 possibilities, setting the stage for a more transparent, secure, and innovative digital world.

ING remarks after the wages data from Australia earlier:

• Australia data - Wage Price Index for Q3 2024: +0.8% q/q (expected +0.9%, prior +0.8%)
• Australia - "Wage inflation is moderating as expected"

ING says that year-on-year wage growth slowing to 3.5% is a step in the right direction for the Reserve Bank of Australia (RBA) to consider rate cuts.

However, ING notes this deceleration alone isn’t enough for the RBA to rule out any upside risks to interest rates.

Despite the softer data, ING believes a case for a near-term rate cut remains weak, predicting the earliest possible easing from the RBA could come in the first quarter of 2025.

**

I suspect even Q1 is too early. The RBA next meet on December 9 - 10, where on hold is expected.

• Fed speakers on energy, the economy, and maybe policy due on Wednesday
• US CPI data due Wednesday, the ranges of estimates (& why they're crucial to know)
• AUD traders heads up - Reserve Bank of Australia Governor Bullock speaks Thursday
• The argument for a near-term Reserve Bank of Australia interest rate cut remains very thin
• Japan's Seven & i Holdings is considering a management buyout
• Bank of England Monetary Policy Committee member Catherine Mann speaking Wednesday
• Australia - "Wage inflation is moderating as expected"
• PBoC promised stronger damping to support CNY, and that's what are seeing
• PBOC sets USD/ CNY mid-point today at 7.1991 (vs. estimate at 7.2305)
• Dogecoin catches a bid on Trump's new DOGE department headed by Musk
• Trump names Elon Musk, Vivek Ramaswamy to lead Department of Government Efficiency (DOGE)
• Australia data - Wage Price Index for Q3 2024: +0.8% q/q (expected +0.9%, prior +0.8%)
• Japan PPI (October) +0.2% m/m (expected 0%) and +3.4% y/y (expected +3.0%)
• Barclays on oil - current market dynamics relatively stable, doesn't foresee major shifts
• ECB Interest Rate Forecast: Deutsche Bank's 7 reasons for projecting a lower terminal rate
• BoA expect a 4% EPS benefit for S&P 500 equites from Trump corporate tax cuts
• US CPI data due Wednesday - possible upside surprise.
• Green shoots in China? Excavator sales grew 15% in October
• Forexlive Americas FX news wrap 12 Nov: Bitcoin hits $90K. Stocks fall. USD moves higher.
• NY Fed Perli says there's been more friction in money mkts lately, repo rate rise orderly
• Amazon’s Bezos sells US$1.25bn of shares
• US indices close lower on the day. No new records today.
• Bitcoin trades above $90,000 for the first time. It broke the $80,000 level on Monday
• Trade ideas thread - Wednesday, 13 November, insightful charts, technical analysis, ideas

Small ranges prevailed during Asia time with many traders content to wait until the US inflation data later.

• US CPI data due Wednesday, the ranges of estimates (& why they're crucial to know)

Data events during the session here were lower-tier. We had PPI data from Japan coming in higher than expected. Renewed yen weakness pushed up import costs for some goods. At the margin, an argument can be made that the data was supportive of a nearer-term Bank of Japan rate hike. Against this is, of course, is the new political pressure on the Bank to not hike until wages are seen rising at the next round of wage negotiations in (Japan's) spring. Many months away. The Bank of Japan next meet on December 18 - 19.

USD/JPY moved a little higher, but didn’t get to 155.00. As I post its around the middle of its session range circa 154.80.

Data from Australia showed wage growth moderating a little. This is not sufficient for the Reserve Bank of Australia to cut its cash rate any time soon. The next meeting is December 9 – 10, and then in February (17 – 18).

Earlier this week People’s Bank of China Governor Pan Gongsheng emphasized that the Bank will not let the yuan plummet without a fight:

• Will step up countercyclical adjustment
• Should resolutely guard against the risk of exchange rate overshoot

Today the Bank set the USD/CNY reference rate more than 300 points lower than model estimates (ie a stronger yuan). The Bank delivered on its word to support the yuan. Offshore yuan has jumped (lower USD/CNH).

Bitcoin sat near US$88K.

Broader markets are still largely clinging on to the post-election sentiment this week. However, today will add something different to the mix as we will have the US CPI report in focus. While inflation numbers haven't been too important in recent months, it is one that could still impact trading sentiment. That especially if the disinflation process meets a couple of bumps along the way.

And looking at the expectations for today's report, that might shape up to be the case at least for the October estimates.

Core monthly inflation is expected to nudge up by ~0.30% while headline monthly inflation is expected to nudge up by ~0.21%. Meanwhile, core annual inflation is expected to hold at 3.3% - similar to September. As for headline annual inflation, it is expected to come in a little higher this time at 2.6%.

According to Goldman Sachs, we should be seeing less disinflationary pressures from previously softer components such as airfares and used cars prices. Their estimates show the former increasing by 1.0% this month with the latter up 2.5%. So, that's one part of the argument.

At the balance, the report today should not provide a major reaction if within estimates. I reckon the balance of risks at this point is favouring an outsized reaction on an upside surprise, as compared to a downside miss.

Fed funds futures are showing ~63% odds of a 25 bps rate cut for December and that has been toned down since last week. If there is any upside surprise, the scope for a materially bigger shift in odds there is much wider as compared to a downside miss. So, that's the key consideration now.

Here's Goldman Sachs' playbook in terms of the S&P 500 reaction:

There are just a couple to take note of, as highlighted in bold.

They are both for EUR/USD at the 1.0600 and 1.0650 levels. The former in particular will continue to be a notable one, adding another layer to key support at the figure level for the time being. As such, the expiries are likely to once again keep price action locked in until we get to US trading later at least.

As an aside, just be wary of the larger option expiries at the same level of 1.0600 through the week. And on Friday, EUR/USD also has a very large one pinned at 1.0700. So, just be wary of that in case.

For more information on how to use this data, you may refer to this post here.

The dollar continues to sit in a good spot this week, holding gains ahead of the main event later today. It's all about the US CPI report and markets are likely to remain more tentative up until then. As for the bigger picture, the post-election sentiment continues to play out for the most part and that remains the larger focus.

For now, USD/JPY is one to watch as it closes in on the 155.00 mark currently. That will mark the first time since the end of July that the pair is taking a run at the figure level. Is Tokyo going to step up with their verbal interventions? There's going to be little technical resistance in between this pocket here and 160.00 next.

Besides that, EUR/USD is also in focus as the pair closes in on the April low of 1.0601. Large option expiries are in play for now but it's hard to ignore the stronger dollar post-election. If that breaks, sellers will be eyeing the 1.0500 level next before the October lows from last year seen at 1.0448-51.

European trading will be a bit of a snoozer as such with a lack of headlines. But perhaps we might get some interesting market moves to talk about in the run up to the US CPI report. USD/JPY is now inching just above 155.00 for the first time since end July while EUR/USD is looking heavy near the April low of 1.0601. Those will be two of the more interesting charts in play currently.

Elsewhere, US futures are pointing lower with gold back up slightly just above $2,600 and Bitcoin is down to below $87,000 after briefly brushing up against the $90,000 mark overnight. So, there are some mixed moves in there for the time being.

In terms of data releases, there's just the US MBA mortgage applications at 1200 GMT. With rates having shot higher post-election, that is likely to keep sentiment in a more dour spot after last week's report here.

As for euro area releases, there's nothing on the agenda for today.

Welcome to the US CPI Day! Inflation is back at the top of market's focus after the Fed's 50 bps cut in September, the acceleration in the US data and Trump's victory.

If we look at the markets, there's been already some pre-positioning/hedging into a potentially higher than expected CPI print, so there's some risk of a "sell the fact" reaction. Of course, a bigger than expected upside surprise would be much more straightforward.

The market is currently pricing a 63% chance of a 25 bps cut in December and basically two more 25 bps rate cuts in 2025 which is already much less than the four projected by the Fed in September.

13:30 GMT/08:30 ET - US October CPI

The US CPI Y/Y is expected at 2.6% vs. 2.4% prior, while the M/M measure is seen at 0.2% vs. 0.2% prior. The Core CPI Y/Y is expected at 3.3% vs. 3.3% prior, while the M/M figure is seen at 0.3% vs. 0.3% prior.

At the latest Fed’s decision, Fed Chair Powell said that they expect bumps on inflation and that one or two bad data months on inflation won’t change the process. This keeps the 25 bps cut in December in place even if we get higher inflation readings.

The market though is forward-looking, and the rise in Treasury yields showed that the market sees risks to the inflation outlook. Moreover, the red sweep could increase those fears if the progress on inflation stalls, or worse, reverses.

Therefore, higher inflation readings might not change the near-term monetary policy outlook, but I personally see it changing the market’s outlook and eventually the Fed’s one.

Central bank speakers:

• 09:45 GMT - BoE's Mann (hawk - voter)
• 14:35 GMT/09:35 ET - Fed's Logan (neutral - non voter)
• 18:00 GMT/13:00 ET - Fed's Musalem (neutral - non voter)
• 18:30 GMT/13:30 ET - Fed's Schmid (hawk - non voter)

Fundamental Overview

Gold is now down almost 6% from the US election day. That shouldn’t be surprising as the last time we got a red sweep gold dropped by more than 16%.

The reason is that a red sweep brings a more expansionary fiscal policy and should be not only positive for growth but also for inflation.

In fact, the market now sees just two 25 bps rate cuts in 2025 which is already much less than the four projected by the Fed in September.

In the bigger picture, gold remains in a bullish trend as real yields will likely continue to fall amid the Fed’s easing cycle, but for now the short-term trend is to the downside due to the repricing in rate cuts expectations.

Gold Technical Analysis – Daily Timeframe

On the daily chart, we can see that gold is now trading near the key trendline around the 2600 level. This is where the buyers are stepping in with a defined risk below the trendline to position for a rally into a new all-time high. The sellers, on the other hand, will want to see the price breaking lower to increase the bearish bets into the next trendline around the 2400 level.

Gold Technical Analysis – 4 hour Timeframe

On the 4 hour chart, we can see more clearly the strong support zone we have around the 2600 level where there’s the confluence of the previous swing low level and the trendline. We can see that we also have a downward trendline defining the current bearish momentum.

If we get a pullback, the sellers will likely lean on it to position for the break below the major trendline, while the buyers will look for a break higher to increase the bullish bets into a new all-time high.

Gold Technical Analysis – 1 hour Timeframe

On the 1 hour chart, we can see that we have another minor downward trendline defining the bearish momentum on this timeframe. More aggressive sellers might lean on this one to position for the break of the major trendline, while the buyers will look for a break higher to target the pullback into the next downward trendline. The red lines define the average daily range for today.

Upcoming Catalysts

Today, we have the US CPI report. Tomorrow, we get the latest US Jobless Claims figures. On Friday, we conclude the week with the US Retail Sales data.

See the video below

Why it's important?

The ranges of estimates are important in terms of market reaction because when the actual data deviates from the expectations, it creates a surprise effect. Another important input in market's reaction is the distribution of forecasts.

In fact, although we can have a range of estimates, most forecasts might be clustered on the upper bound of the range, so even if the data comes out inside the range of estimates but on the lower bound of the range, it can still create a surprise effect.

Distribution of forecasts for CPI

CPI Y/Y

• 2.7% (2%)
• 2.6% (56%) - consensus
• 2.5% (28%)
• 2.4% (12%)
• 2.3% (2%)

CPI M/M

• 0.3% (17%)
• 0.2% (73%) - consensus
• 0.1% (10%)

Core CPI Y/Y

• 3.4% (8%)
• 3.3% (81%) - consensus
• 3.2% (11%)

Core CPI M/M

• 0.4% (4%)
• 0.3% (82%) - consensus
• 0.2% (14%)

Analysis

We can ignore the headline CPI as the market will focus on the Core figures. We can notice that we have a pretty strong consensus and not much skew on either side.

Nonetheless, there's been a consistent bid in the US Dollar going into this report with Treasury yields higher and stocks kinda rangebound. The market might have already assigned some premium to a higher than expected print, so there's some risk of a short-term "sell the fact" reaction on a higher than expected number.

It goes without saying that a bigger than expected upside surprise should see the momentum increasing immediately with the US Dollar likely rallying across the board and Treasury yields shooting higher.

On the other hand, a soft print will likely see the US Dollar and Treasury yields falling, although one can argue that it's just going to provide a pullback to go long the US Dollar and short bonds again at even better levels as future conditions will likely see inflation getting stuck above the target or even moving back higher.

WASHINGTON, D.C. – NAB President and CEO Gordon Smith testified today before the Senate Commerce Committee's Subcommittee on Communications, Media, and Broadband at a hearing titled "Shot of Truth: Communicating Trusted Vaccine Information."

Washington, D.C. -- NAB Show Premiere will examine the future impact of edge technology on radio and television broadcasters during a session titled “Livin’ on the Edge: Advances in Computing and Networking to Drive Innovation in Broadcasting.” The session, which will air on Wednesday, April 21st at 3 p.m. ET and be available on-demand, will present a new study about opportunities created by wider adoption of edge technologies in the next three to four years.

WASHINGTON, DC -- In response to the Federal Communications Commission’s (FCC) adoption of new rules mandating disclosures for foreign government-sponsored programming, the following statement can be attributed to NAB Senior Vice President of Communications Ann Marie Cumming:

WASHINGTON, DC -- A bipartisan coalition of 77 members of the House of Represenatives and eight Senators have joined together to introduce resolutions in Congress opposing "any new performance fee, tax, royalty, or other charge" on local broadcast radio stations. The Local Radio Freedom Act (LRFA) signals members of Congress's opposition to any potential legislation that would impose new performance royalties on broadcast radio stations for music airplay.

“Local broadcasters carry the mantel of investigative journalism, shining a light on government corruption, questioning those in power and ensuring consumers have a powerful voice to fight back against injustice. It is concerning that some public officials – typically those whose actions have been called into question – would ask the federal government to step in and censor broadcasters in violation of the First Amendment. The Federal Communications Commission must reject such unconstitutional attacks on free speech. It is a slippery slope, and one that our nation’s founders clearly sought to prevent.”

Washington, D.C. -- Radio and television stations are not adequately compensated for their news content on technology platforms because of an imbalance in market power, according to a new study released today by BIA Advisory Services. The study found that each year broadcasters lose nearly $2 billion in value that they generate for two of the largest technology platforms through publication of their valuable content – particularly local news.

Washington, D.C. -- As founding members of the Biden Administration’s COVID-19 Community Corps, the National Association of Broadcasters (NAB) is urging all local radio and television stations to participate in a National Month of Action beginning June 4 to provide COVID-19 vaccine education and help ensure all Americans understand the importance of getting vaccinated.

Washington, D.C. -- PILOT, NAB's technology innovation initiative, will be accepting submissions for the PILOT Innovation Challenge through 5 p.m. ET on July 9. The program will provide mentorship and promotion to winning proposals, along with an opportunity to demonstrate their products at NAB Show in Las Vegas, October 9-13, 2021. 

WASHINGTON, D.C. -- Eleven members of the House of Representatives have added their support to a resolution opposing "any new performance fee, tax, royalty, or other charge" on local broadcast radio stations. The Local Radio Freedom Act (LRFA), which signals members of Congress's opposition to any potential legislation that imposes new performance royalties on broadcast radio stations for music airplay, now has 149 cosponsors in the House and 18 in the Senate.