The euro remained subdued as traders awaited fresh guidance from U.S. policymakers, with muted volatility reflecting limited economic releases. The pound weakened amid political unease over fiscal policy and investor concern about slower growth in the United Kingdom. The yen faced renewed pressure as Japanese authorities reiterated their readiness to act against excessive currency moves, but firm U.S. policy expectations supported the dollar. Meanwhile, gold steadied after recent losses, with safe-haven demand balancing a stronger greenback and cautious sentiment toward global economic recovery.

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🇪🇺/🇺🇸 EUR/USD Outlook – Euro vs U.S. Dollar

Euro Awaits Clarity from Fed Remarks

• The euro remains under pressure as the U.S. dollar trades near three-month highs, driven by expectations that the Federal Reserve will maintain a restrictive policy until clearer evidence of slowing inflation emerges.
• Attention turns to comments from FOMC member Michelle Bowman and the RCM/TIPP Economic Optimism Index, which could shape market sentiment. A dovish tone from Bowman may support the euro; otherwise, the pair could remain under bearish pressure.
• The ECB is seen maintaining a tighter stance for longer, with markets pricing minimal odds of a December rate cut compared with the Fed.
• The euro’s short-term movement remains corrective, with limited upward potential unless the dollar weakens significantly.
• Key Support: 1.1517
• Key Resistance: 1.1547, 1.1579, 1.1605, 1.1634, 1.1667
• Outlook: Slightly bearish to neutral; moderate correction possible if U.S. optimism data disappoints.

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🇬🇧/🇺🇸 GBP/USD Outlook – British Pound vs U.S. Dollar

Political and Fiscal Risks Weigh on the Pound

• The pound fell sharply as UK Prime Minister Keir Starmer’s comments on potential tax hikes unsettled investors concerned about economic recovery and fiscal tightening.
• Despite a rebound in the manufacturing PMI to its highest in a year, the reading remains below the 50 mark, suggesting contraction.
• Political uncertainty continues to weigh on market confidence, with investors waiting for a clearer fiscal framework.
• The pound could remain volatile depending on the tone of Fed commentary and the RCM/TIPP data release.
• Key Support: 1.3086
• Key Resistance: 1.3174, 1.3216, 1.3247, 1.3291, 1.3328, 1.3365
• Outlook: Bearish bias; a recovery above 1.3174 could trigger limited upside before renewed selling pressure.

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🇺🇸/🇯🇵 USD/JPY Outlook – U.S. Dollar vs Japanese Yen

Verbal Interventions Limit Yen Weakness

• The Japanese yen remains fragile despite repeated verbal warnings from officials about excessive currency weakness.
• Finance Minister Satsuki Katayama emphasized close monitoring of volatility, while Prime Minister Takaichi highlighted incomplete inflation progress, implying continued policy caution.
• The yen’s weakness persists as the Bank of Japan maintains ultra-loose monetary settings, contrasting with the Fed’s comparatively firm stance.
• Without actual market intervention, the yen is unlikely to strengthen meaningfully.
• Key Support: 153.26, 151.51, 150.87, 150.15
• Key Resistance: 154.41, 156.54
• Outlook: Bullish bias in favor of the dollar; risk of a correction if intervention occurs or U.S. data disappoints.

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🇦🇺/🇺🇸 AUD/USD Outlook – Australian Dollar vs U.S. Dollar

Focus on RBA’s Policy Tone Amid Labor Market Concerns

• The RBA is expected to maintain its current policy settings, with inflation risks offsetting rising unemployment.
• Recent data showed inflation accelerating and the services sector expanding, allowing policymakers to adopt a patient approach.
• Analysts expect no rate cuts in November or December, with the next possible move deferred to early 2026.
• The Australian dollar benefits from easing U.S.–China tensions but faces headwinds from global risk aversion and a stronger U.S. dollar.
• Key Support: 0.6515, 0.6475, 0.6445
• Key Resistance: 0.6595, 0.6630
• Outlook: Neutral to mildly bullish; a sustained break above 0.6595 could extend gains toward 0.6630, while a drop below 0.6515 would renew downside momentum.

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🌕 Gold (XAU/USD) Outlook – Gold vs U.S. Dollar

Volatility Persists Amid Fed Caution

• Gold prices dropped as several Fed officials signaled caution on near-term rate cuts, reinforcing the dollar’s strength.
• Despite the pullback, safe-haven demand remains supported by geopolitical risks and persistent inflationary concerns.
• Fed Chair Lisa Cook’s remarks highlighted the balance between labor market weakness and inflation stability, limiting expectations for aggressive easing.
• Gold’s upward momentum depends on whether it can maintain support above $3,950; a break below this level may invite deeper corrections.
• Key Support: 3,954, 3,906, 3,849
• Key Resistance: 4,008, 4,062, 4,124
• Outlook: Neutral to slightly bullish; holding above 3,954 keeps the path open for recovery toward 4,062–4,124.

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📊 Summary Table: As of November 5, 2025

Asset	Sentiment	Key Support	Key Resistance	Near-Term Outlook
🇪🇺 EUR/USD	Slightly Bearish	1.1517	1.1547 / 1.1605	Range-bound with mild correction
🇬🇧 GBP/USD	Bearish	1.3086	1.3174 / 1.3247	Under pressure from fiscal uncertainty
🇺🇸 USD/JPY	Bullish	153.26	154.41 / 156.54	Uptrend persists unless Japan intervenes
🇦🇺 AUD/USD	Neutral–Mild Bullish	0.6515	0.6595 / 0.6630	Supported by steady RBA stance
🪙 XAU/USD	Neutral–Slightly Bullish	3,954	4,062 / 4,124	Safe-haven bid amid Fed caution