Stateside, the USD ended the session on the ropes. Technically, I see little in the way of support on the USD index, with monthly resistance at 99.67 entering the fray and scope to run for at least daily support at 98.58.<\/p>\n
Closer to home, the GBP ended lower in recent trading following softer-than-anticipated UK growth numbers. Between August and September, and in Q3, the economy barely registered growth. This, I am sure, was not a pleasing read for the UK Chancellor, Rachel Reeves, who will deliver what is expected to be a rather challenging Autumn Budget at the end of this month. Recent speculation suggests that Reeves is considering dropping plans to raise the headline income tax rate in the upcoming budget. I am just not sure what to expect from this government anymore!<\/p>\n
Looking Ahead<\/p>\n
US data is still off the table for the time being, and today\u2019s calendar offers slim pickings. However, things should be more interesting next week as we may get a glimpse of US economic data for September, and, of course, Nvidia reports earnings, providing a key test of lofty AI valuations.<\/p>\n
Written by FP Markets Chief Market Analyst Aaron Hill\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Stateside, the USD ended the session on the ropes. Technically, I see little in the way of support…\n","protected":false},"author":2,"featured_media":284441,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,2009,133714,99,20024,13995,12063,2005,164,56522,40464,5284,16366,10253,38182,2291,33364,5463,5285,2004,56524,163009],"class_list":["post-284440","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-bitcoin","tag-brent-oil","tag-business","tag-commodities","tag-cryptocurrencies","tag-daily","tag-dow-jones","tag-economy","tag-forex","tag-gbp-usd","tag-gold","tag-ignore","tag-indices","tag-nasdaq-100","tag-nvidia","tag-palantir","tag-sp-500","tag-silver","tag-stocks","tag-us-dollar-index","tag-wti-crude-oil"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/284440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=284440"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/284440\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/284441"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=284440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=284440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=284440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}