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Forex Today: US Dollar rally pauses to start new week
Here is what you need to know on Monday, November 3:

EUR/GBP drifts higher above 0.8750 amid ongoing UK budget concerns
The EUR/GBP cross edges higher to near 0.8775 during the early European session on Monday. Mounting political pressures surrounding UK Finance Minister Rachel Reeves exert some selling pressure on the Pound Sterling (GBP) against the Euro (EUR).

Crude Oil price today: WTI price bullish at European opening
West Texas Intermediate (WTI) Oil price advances on Monday, early in the European session. WTI trades at $61.24 per barrel, up from Friday's close at $60.70.Brent Oil Exchange Rate (Brent crude) is stable, hovering around its previous daily close at $64.58.

ECB's Nagel: Outlook holding but options open in December
The European Central Bank (ECB) Governing Council member Joachim Nagel said that Eurozone economic data aren't diverging from the ECB's outlook, but policymakers are keeping their options open, Bloomberg reported on Monday.

AUD/JPY Price Forecast: First upside barrier emerges above 101.50, RBA rate decision in focus
The AUD/JPY cross trades in positive territory near 101.10 during the early European session on Monday. The Japanese Yen (JPY) weakens against the Australian Dollar (AUD) amid the uncertainty surrounding the timing of the next rate hike by the Bank of Japan (BoJ).

EUR/JPY holds steady above 177.50 amid thin trading due to Japan's holiday
EUR/JPY holds ground after registering losses in the previous session, trading around 177.70 during the Asian hours on Monday. The currency cross edges higher as the Japanese Yen (JPY) weakens after the Bank of Japan (BoJ) maintained a cautious stance on interest rates.

USD/CHF trades firmly near 0.8050 ahead of Swiss inflation data
The USD/CHF pair demonstrates strength near an over two-week high around 0.8050 during Monday's Asian session. The Swiss Franc pair trades firmly as the US Dollar (USD) holds onto gains due to receding speculation for further monetary policy easing by the Federal Reserve (Fed) this year.

GBP/JPY steadies around mid-202.00s amid BoJ uncertainty; UK fiscal concerns cap gains
The GBP/JPY cross attracts some buyers near the 202.30-202.25 area during the Asian session on Monday, though it lacks follow-through.

FX option expiries for Nov 3 NY cut
FX option expiries for Nov 3 NY cut at 10:00 Eastern Time via DTCC can be found below.

US Dollar Index strengthens above 99.50 ahead of US Manufacturing PMI release
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, trades on a stronger note around 99.75 during the Asian trading hours on Monday. The DXY edges higher on the hawkish stance from the US Federal Reserve (Fed).

USD/INR trades firmly as US Dollar strengthens on easing Fed dovish bets
The Indian Rupee (INR) opens on a flat note against the US Dollar (USD) near its over two-week high around 88.95 at the start of the new month on Monday. The USD/INR pair aims to extend its six-day winning streak as the Indian Rupee (INR) continues to underperform due to Foreign Institutional Inves

Silver Price Forecast: XAG/USD rises to near $49.00 due to renewed safe-haven demand
Silver price (XAG/USD) recovers its recent losses from the previous session, trading around $48.80 per troy ounce during the Asian hours on Monday.

Gold retakes $4,000 amid reviving safe-haven demand; upside potential seems limited
Gold (XAU/USD) attracts some dip-buyers following an Asian session slide to the $3,963-3,962 region on Monday and climbs back above the $4,000 psychological mark in the last hour.

USD/CAD treads water above 1.4000 due to cautious Fed policy outlook
USD/CAD remains steady after two days of gains, trading around 1.4010 during the Asian hours on Monday. The pair struggles as the Canadian Dollar (CAD) gains ground on higher Oil prices. It is important to note that Canada is the largest crude exporter to the United States (US).

NZD/USD flat lines near 0.5700 after weaker Chinese PMI data
The NZD/USD pair trades on a flat note near 0.5715 during the Asian trading hours on Monday. The potential upside for the New Zealand Dollar (NZD) seems limited after the downbeat China's Manufacturing Purchasing Managers' Index (PMI) data.

Japanese Yen languishes near multi-month low against bullish USD amid BoJ uncertainty
The Japanese Yen (JPY) remains on the defensive against a bullish US Dollar (USD) at the start of a new week and is currently placed near its lowest level since February 14, touched last Thursday.

Australian Dollar holds losses following China's RatingDog Manufacturing PMI data
Australian Dollar (AUD) declines against the US Dollar (USD) for the fourth successive session on Monday. The AUD/USD pair remains subdued as the US Dollar (USD) gains amid dampening expectations of a US Federal Reserve (Fed) interest rate cut in December.

WTI climbs above $61.00 as OPEC+ signals output increase pause
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $61.10 during the early Asian trading hours on Monday. The WTI rises after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) signaled a pause in output increase.

US President Donald Trump blocks Nvidia's Blackwell AI chip sales to China
US President Donald Trump said that the United States (US) will prevent China from obtaining Nvidia's most advanced semiconductor technology, CBS News reported on Monday.

China's RatingDog Manufacturing PMI eases to 50.6 in October vs 50.9 expected
China's RatingDog Manufacturing Purchasing Managers' Index (PMI) declined to 50.6 in October from 51.2 in September, the latest data published by RatingDog showed on Monday.
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