Despite a strong start in July, the Australian Dollar fell against the US Dollar in August and September, extending the downward trend established in April when prices hit the highest level since June 2021 before selling off.

The Japanese Yen may continue to underperform against its US counterpart as the Bank of Japan (BoJ) votes unanimously to maintain its easing program.

Gold prices suffered heavy losses during the third quarter, pressured by rising real yields and a strong U.S. dollar. The fourth quarter may also be challenging for the precious metal.

Downside pressure remains, parity to the US Dollar still in play.

The outlook for BTC/USD this coming quarter to put simply is, lower before higher. As it currently stands there is the dollar and everything else, meaning that as the dollar propels higher just about everything else suffers, except volatility.

Coming into 3Q’22, the Euro was facing a litany of issues that prevented any sort of significant rebound: slowing economic growth; the Russian invasion of Ukraine; energy inventories; and concerns around a potential fragmentation of European bond markets..

The Australian Dollar appears vulnerable going into the end of the year with the rate paths of the RBA and the Federal Reserve set to diverge. Will monetary policy drive AUD/USD?

Not much has changed from Q3 with the Japanese Yen extending its weakness against the U.S. dollar as the Bank of Japan (BoJ) continues its dovish stance on monetary policy to stimulate economic growth.

The Dow Jones and S&P 500 plunged on a still-hawkish Fed last week. The US Dollar roared as Japan had to intervene in the Yen as Sterling dropped to a 1985-low. Gold prices continued lower. Ahead, all eyes turn to the Fed’s preferred gauge of inflation.

The Ministry of Finance’s efforts are unlikely to produce a lasting reversal in the Yen, so long as the Bank of Japan’s QQE with yield curve control policy remains in place.