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GBP: Reeves signals tough budget or plays politics? - MUFG
The Pound Sterling (GBP) was for much of yesterday the worst performing G10 currency although it ended the day third worst as Gilt yields initially gapped lower on the open before modestly recovering in response to the early morning speech by Chancellor Reeves.

China's top trade negotiator: Hope US would create favorable conditions for cooperation
Following his meeting with the agriculture delegation from the United States (US) on Wednesday, China's top trade negotiator Li Chenggang urged the US to create favorable conditions for cooperation.

EUR/USD may not be able to reach 1.1450 today - UOB Group
Further declines are not ruled out; clear positive divergence suggests EUR may not be able to reach 1.1450 today. In the longer run, EUR is expected to weaken further; the next level to watch is 1.1450, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD: Shutdown hits new record as focus shifts to Supreme Court - MUFG
The US Dollar (USD) advanced to levels above 100 in Dollar Index (DXY) yesterday and EUR/USD broke below the 1.1500-level although the technical breaches of these levels has not as yet triggered any increased momentum for buying.

DXY at 100 - squeeze or new uptrend? - DBS
The Dollar Index (DXY) rebound to late-July's 100 level reflects a confluence of near-term supporting factors - Fed Chair Jerome Powell's pushback on a December rate cut amid tight funding conditions and haven demand as the US government shutdown enters its second month, DBS' Senior FX Strategist Ph

Dow Jones Futures jump as Fed easing hopes boost risk appetite
Dow Jones Index futures are showing minor gains during Wednesday's European morning session as market sentiment remains fragile on concerns about an overvaluation of tech stocks, as markets reassess their expectations of monetary easing by the Federal Reserve.The main Wall Street Indexes are set to

USD: December will probably be very important - Commerzbank
I think that the easing of tensions on the trade front is good for everyone involved. This includes central banks, which may now have the opportunity to set their monetary policy in a somewhat less uncertain environment. I would like to point out one aspect in particular.

USD: Dollar doing well, ADP to determine next move - ING
A more defensive mood has gripped global markets and FX this week.

USD/JPY: Dragged lower by risk-off trades - OCBC
USD/JPY fell amid demand for safe haven proxy, JPY. Pair was last seen at 153.52 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

European Gas prices extend gains as weather risks mount - ING
European Natural Gas prices rose again as colder weather and lower wind generation boosted demand expectations, even as storage levels remain below average and speculative interest stays muted, ING's commodity experts Ewa Manthey and Warren Patterson note.

USD/CAD Price Forecast: Hits fresh seven-month highs above 1.4100
USD/CAD continues its winning streak for the fifth consecutive day, trading around 1.4110 during the European hours on Wednesday. The technical analysis of the daily chart indicates a persistent bullish bias, with the pair moving upwards within the ascending channel pattern.

DXY: Boosted by risk-off trades - OCBC
US Dollar (USD) received another jolt higher overnight, this time due to sudden turn in risk sentiments. DXY last at 100.10 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

US crude Oil stocks rise - ING
The Oil market came under pressure yesterday, unable to escape the broader risk-off move across markets, ING's commodity experts Ewa Manthey and Warren Patterson note.

EUR: The pain trade continues - ING
EUR/USD continues to grind lower as it has for the last week. Rate differentials have not moved much at all this week and in fact have been mildly supportive for EUR/USD. But other factors are at play.

EUR/USD remains pinned near lows with Eurozone services data on tap
EUR/USD consolidates losses below the 1.1500 level on Wednesday's early European session, trading at 1.1488 at the time of writing.

Gold Price Forecast: XAU/USD picks up to $3,970 on risk-off markets
Gold (XAU/USD) is trading higher on Wednesday, supported by increasing demand for safe assets, with traders spooked by the sell-off in global equity markets.

USD/CHF stays below 0.8100 after pulling back from three-month lows
USD/CHF loses ground after five days of gain, retreating after reaching a three-month high of 0.8108 reached in the previous session. The pair is trading around 0.8090 during the European hours on Wednesday, as the US Dollar (USD) remains subdued amid the ongoing US government shutdown.

NZD/USD steadies near 0.5650 as China lifts tariffs, NZ jobs data weak
NZD/USD remains flat after experiencing volatility, trading around 0.5650 during the early European hours on Wednesday. The pair recovers its daily losses after China's Finance Ministry announced that it will lift some tariffs on US agricultural products starting November 10.

ADP Report expected to show a mild rebound in employment in October
The Automatic Data Processing (ADP) Research Institute will release its monthly report on private-sector job creation for October on Wednesday.

Forex Today: US Dollar consolidates gains ahead of key data
Here is what you need to know on Wednesday, November 5:
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