<p style=““ class=“text-align-justify“>It’s all about <a target=“_blank“ href=“https://www.forexlive.com/news/the-start-of-the-central-bank-bonanza-20221024/“ target=“_blank“>key central bank meeting decisions</a> in the next two weeks and after last Friday’s recovery in broader market sentiment, we’re seeing a bit more chop and some pushing and pulling today. But the dollar is standing its ground despite the choppiness, posting a decent recovery after its fall at the end of last week.</p><p style=““ class=“text-align-justify“>S&P 500 futures are back up by 12 points, or 0.3%, after falling by around 23 points earlier in the session. 10-year Treasury yields also moved up from 4.13% to 4.21% only to fall back by 5 bps now to around 4.16% on the day. It looks like we may have to wait for North American traders to really settle the score.</p><p style=““ class=“text-align-justify“>EUR/USD is still down 0.4% to 0.9810-20 levels after sluggish PMI data from Europe earlier as noted <a target=“_blank“ href=“https://www.forexlive.com/news/euro-lacks-comfort-as-pmi-data-highlight-continued-downturn-20221024/“ target=“_blank“>here</a>, while USD/JPY is still looking perky as the bulls brush aside the intervention attempt in Asia.</p><p style=““ class=“text-align-justify“>The low in Asia hit 145.48 before rebounding back to above 149.00 levels at the moment. It looks like the Japanese government will have to <a target=“_blank“ href=“https://www.forexlive.com/news/japan-intervention-on-21-october-estimated-to-have-cost-over-5-trillion-20221024/“ target=“_blank“>burn more cash</a> if it really wants to send a stronger message to markets.</p><p style=““ class=“text-align-justify“>Meanwhile, GBP/USD is also now trading down by 0.2% to 1.1280 at the lows for the day. The pair opened with a gap higher as the pound gained some respite as Boris Johnson bowed out of the race to become the next UK prime minister. The opening levels were around 1.1400 but we look to be headed towards a test of its 100 and 200-hour moving averages at 1.1242-59:</p><p style=““ class=“text-align-justify“>Elsewhere, USD/CAD is up 0.6% to 1.3730 while AUD/USD is down 1.3% to 0.6290 as it runs into a challenge of its key hourly moving averages we well:</p>
This article was written by Justin Low at forexlive.com.