<p style=““ class=“text-align-justify“>The dollar is posting a decent advance on the day now but more so against currencies with high beta (risky currencies) and these days, that includes the pound. GBP/USD is down nearly 1% to 1.1420 as it cracks below its 200-hour moving average:</p><p style=““ class=“text-align-justify“>That erases the gains from yesterday as sellers regain some near-term control in the pair, though <a target=“_blank“ href=“https://www.forexlive.com/news/gbpusd-still-caught-in-no-mans-land-20221108/“ target=“_blank“>the big picture look is still not really going anywhere</a> for now.</p><p style=““ class=“text-align-justify“>The dollar’s push higher comes as we see a round of selling in equities with S&P 500 futures now down by 0.6% on the day.</p><p style=““ class=“text-align-justify“>There’s not much in terms of headlines to have sparked the quick drop in the past hour or so, with the US midterms still shaping up as it is i.e. a less Republican-favoured result than initially anticipated. The Senate race remains tight and the fight for control of the House is still just slightly favoured for the Republicans, even if Democrats have showed much resilience.</p><p style=““ class=“text-align-justify“>One can argue that perhaps the rout in cryptos is starting to spill over as things are looking rather bearish now with Bitcoin breaking the June lows:</p>

This article was written by Justin Low at forexlive.com.

<p style=““ class=“text-align-justify“>She mentions that the central bank could have a „scorched earth“ rate policy to get inflation under control, but that it would not be the best outcome. In terms of their next steps, she maintains that they have flexibility as they „would raise rates faster if we thought inflation was not coming down as expected“. Right.</p>

This article was written by Justin Low at forexlive.com.

<p style=““ class=“text-align-justify“>The pair is little changed today and remains close to the notable resistance point at 0.6500 after its recent recovery when the dollar hit its latest peak last month. Since then, the greenback has very much consolidated gains against most major currencies and it is no different against the aussie.</p><p style=““ class=“text-align-justify“>As things stand right now, the pair is caught in a tussle between 0.6200 and 0.6500 as buyers and sellers are both awaiting firmer direction or some form of catalyst to drive a move on either side of the key technical levels above.</p><p style=““ class=“text-align-justify“>All signs seem to be pointing towards the US CPI data later this week as a potential mover but until we get there, just keep a look out on the technicals in case we do see any sudden moves in the run up to the key risk event.</p><p style=““ class=“text-align-justify“>US futures have tilted higher today, with S&P 500 futures now up 15 points, or 0.4%, and that might give the aussie a bit of a helping hand in contesting 0.6500 again later.</p>

This article was written by Justin Low at forexlive.com.

<p>Crypto
Market picture</p><p>
The
crypto market has lost over 5% in the last 24 hours, pushing capitalisation
back below $1 trillion. The steep fall in FTT affected Bitcoin and Ether and has
pulled a significant market spectrum.
Bitcoin is now trading at $19.8K, with the most substantial losses coming in
the Asian session, filled with algorithmic traders, pushing the price back to
$19.4K at one point. It is noteworthy that a sell-off did not follow the
sell-off in the first and second cryptocurrencies in the markets. </p><p>Once again,
we are forced to guess whether crypto reflects the internal risk attitude of
the financial markets or whether we have seen a short-term technical sell-off.
In the former case, market sentiment will worsen during the day. In the second,
BTCUSD will redeem during the day and further confirm the market’s reversal to
growth. </p><p class=“MsoNormal“>
According to CoinShares, investments in crypto funds declined last week after a
slight increase the previous week. Outflows amounted to $16m compared to
inflows of $6m a week earlier. Bitcoin investments fell by $13 million, and
Ethereum rose by $3 million. Investments in funds that allow shorts on bitcoin
fell by $7 million. Investors have shown a lack of enthusiasm over the past eight
weeks, CoinShares noted.

</p><p>News background</p><p>
Former
MicroStrategy head Michael Saylor called bitcoin a „hope“ for
Lebanon, whose national currency has fallen 96% against the dollar, and
inflation has reached triple digits. The Middle Eastern country has been in a
deep financial crisis since 2019.
</p><p>Twitter’s new owner, Elon Musk, plans to postpone temporarily or entirely shut
down the development of some of the projects announced by the previous
administration, including, reportedly, work on a cryptocurrency wallet. The
news has hurt Dogecoin, which has been growing in hopes of becoming the social
network’s digital currency.</p><p>
According to Reuters, UK bank Santander will block transactions on
cryptocurrency exchanges in 2023 to protect consumers from fraud.</p><p class=“MsoNormal“>
Mining companies are being forced to sell off cryptocurrency mining equipment
at a massive discount to cover losses from a falling market, The Wall Street
Journal reported.

</p><p>This article was written by <a target=“_blank“ href=“https://www.fxpro.com/“ target=“_blank“>FxPro</a>’s Senior Market Analyst Alex
Kuptsikevich.</p>

This article was written by FxPro FXPro at forexlive.com.

<p style=““ class=“text-align-justify“>So long as the policy divergence between the Fed and the BOJ continues to play out, it is tough to find argue for a change in momentum in USD/JPY in the bigger picture. The recent intervention play from Japan officials just above 150.00 is also a factor that has helped to stifle bulls temporarily but price remains elevated above 145.00 – which is arguably a resting point for buyers.</p><p style=““ class=“text-align-justify“>The above chart says it all. The pair has traded lockstep with the bond market this year as soaring Treasury yields on the back of a more hawkish Fed has underpinned price action. The recent retreat in bond yields has also helped but with inflation data coming up this Thursday, a hotter-than-expected reading could reignite the flames once again.</p><p style=““ class=“text-align-justify“>For now, price action is very much caught in between 145 and 150 as the bond rout stalls and as intervention play presents itself. However, if the selling in bonds starts to pick up again, there is still only one direction that USD/JPY will be headed towards – no matter if Japan wants to try and counteract that.</p><p style=““ class=“text-align-justify“>If there is to be a turning point, perhaps the inflation data later this week could provide a catalyst. If the numbers are soft, that might be reason enough for a correction back towards the 100-day moving average (red line) and 140.00 next.</p>

This article was written by Justin Low at forexlive.com.

<ul><li>Prior 92.1</li></ul><p style=““ class=“text-align-justify“>US small business sentiment falls in October as high inflation continues to weigh on sentiment with more businesses forecasting a deterioration in the economic outlook. Of note, 33% of owners reported that inflation was the single most important issue for their business – the highest share since Q4 1979.</p>

This article was written by Justin Low at forexlive.com.

<p style=““ class=“text-align-justify“>On the one hand, a more hawkish Fed and slightly more dovish BOE now makes for a clearer divergence in terms of central bank outlook for the pair. But this has been an ongoing factor for many months now, adding to the bleak outlook for the UK economy while the US economy is still keeping in a solid state.</p><p style=““ class=“text-align-justify“>However, all of the above are known unknowns and one can argue that it is in part what led to the plunge in cable towards 1.0400 – of course conditions were exacerbated by the gilts crisis amid the mini-budget fiasco.</p><p style=““ class=“text-align-justify“>But with that put aside now and the dollar also looking to hit a bit of a peak technically elsewhere, there is reason for cable buyers to be cautiously optimistic.</p><p style=““ class=“text-align-justify“>That said, looking at the chart above, price action is sort of caught in no man’s land for the most part.</p><p style=““ class=“text-align-justify“>The 100-day moving average (red line) at 1.1676 and key trendline resistance at around 1.1710 are the major resistance points to be mindful about while I would argue that any downside push would require a break of 1.1200 first before the next support level at 1.1000.</p><p style=““ class=“text-align-justify“>But for now, the near-term bias is siding with the buyers as price is holding above the 200-hour moving average:</p>

This article was written by Justin Low at forexlive.com.

<p style=““ class=“text-align-justify“>That’s a positive response to the setback from the start of trading today, with US futures having fallen by around 0.5% as we began European morning trade. The risk mood was rather sluggish early on after news that China is denying any pivot from its zero-Covid policy over the weekend.</p><p style=““ class=“text-align-justify“>That saw the dollar gap higher as well before things turned around as we got into the session earlier <a target=“_blank“ href=“https://www.forexlive.com/news/dollar-extends-fall-as-risk-appetite-recovers-from-early-setback-20221107/“ target=“_blank“>here</a>. For now, the optimism is holding as broader markets are staying steadfast to the optimistic turn after the US jobs report on Friday.</p><p style=““ class=“text-align-justify“>However, as much as stocks are hoping for a better outlook, there are still some headwinds to be noted. The US CPI data later this week will be a key hurdle to work through (especially with a more hawkish Fed) and from a technical perspective, there is still the 100-day moving average that is putting a lid on any upside price action for the time being:</p><p style=““ class=“text-align-justify“>Buyers will have to push past that to really convince of a turnaround in the trend. Otherwise, it seems like we might just be stuck with the lower highs, lower lows pattern going into year-end.</p>

This article was written by Justin Low at forexlive.com.

<p class=“MsoNormal“>Making headlines with last year’s edition of UF AWARDS, Ultimate Fintech, the top-tier marketing agency, and organiser of the industry-famed iFX EXPO, announces the launch of the UF AWARDS MEA 2023.</p><p class=“MsoNormal“>The UF AWARDS have been regarded as the standard of excellence and distinction for B2B and B2C brands that spearhead innovation and groundbreaking achievements in the online trading and fintech landscape. The UF AWARDS MEA 2023 carry this legacy forward by honouring excellence across the Middle East and Africa. </p><p>Nominations Open Now for UF AWARDS MEA 2023</p><p class=“MsoNormal text-align-start“>Brands eager to stand out from the crowd in various categories can register via the <a target=“_blank“ href=“https://ultimatefintech.com/awards/“ target=“_blank“>Ultimate Fintech website</a> and fill in the nomination form before the 16th of December.</p><p class=“MsoNormal“>With so many market participants eager to attain recognition in today’s ultra-competitive marketplace, getting nominated for one or more UF Awards is one of the highest privileges that fintech industry players can enjoy and a stride towards receiving industry acknowledgement.</p><p>The Award Categories</p><p class=“MsoNormal“>The UF AWARDS MEA 2023 are designed to crown the achievements of the best brokers and financial technology providers in the Middle East and Africa. </p><p class=“MsoNormal text-align-start“>With the MEA region emerging as the next Mecca for financial services and fintech innovation in recent years, the time for launching the UF AWARDS MEA 2023 could not have been more appropriate. <a target=“_blank“ href=“https://ultimatefintech.com/awards/“ target=“_blank“>View the full list of award categories here</a> and nominate your brand in the categories that align with your business strengths.</p><p>A Special Place for the Industry Elite</p><p class=“MsoNormal“>Some of the titles that could propel your brokerage or fintech brand to the vanguard of the industry include:</p><ul><li>Best Broker – Middle East</li><li>Best Mobile Trading App – Middle East</li><li>Most Transparent Broker – Africa</li><li>Fastest Growing Broker – Africa</li></ul><ul><li>Best Crypto Liquidity Provider – MEA</li><li>Best Trading Platform – MEA</li><li>Best Payment Service Provider – MEA</li><li>Best Technology Provider – MEA</li></ul><p class=“MsoNormal“>The winners will be selected based on clearly defined criteria targeting service quality, product offering and industry know-how. If you’re looking to increase your visibility and standing industry-wide, winning an UF title is the best way to achieve it.</p><p>Join the excitement of the UF AWARDS MEA 2023!</p><p class=“MsoNormal“>The advantages that an UF Award can bring you are multifold. Passing through the sieve of a high-calibre organisation such as Ultimate Fintech and winning their acclaim is a merit that never goes unnoticed.</p><p class=“MsoNormal“>Not only will you raise brand awareness but will also gain a hot spot on the industry’s global radar, distinguishing yourself as “the best” in the business. </p><p class=“MsoNormal“>Lastly, winning an UF Award will boost your clientele’s confidence in your products and services, strengthening your company’s footprint in the international market. </p><p>How does it work?</p><p class=“MsoNormal text-align-start“>During the Nomination Round, all applications are carefully reviewed, vetted, and approved. To participate, companies must first fill out the Nomination Form available on the <a target=“_blank“ href=“https://ultimatefintech.com/awards/“ target=“_blank“>Ultimate Fintech website</a>. Interested brands are encouraged to nominate themselves in the categories they are strongest in. </p><p class=“MsoNormal“>Next, the entire industry will be asked to cast their ballots in the Voting Round. To eliminate suspicions of bias, Ultimate Fintech has created a public voting system, which will be available on the website from the 20th of December until the 10th of January. Only subscribed and logged in users will be able to cast their vote. </p><p class=“MsoNormal“>The winners will be announced on the 18th of January 2023, the last day of the iFX EXPO Dubai, all the more reason to submit your nomination and compete for an UF Award MEA!</p><p>Save the date</p><p class=“MsoNormal text-align-start“>Ready to shine? The UF AWARDS MEA 2023 give you the chance to stand out from the crowd. Don’t miss out! <a target=“_blank“ href=“https://ultimatefintech.com/awards/“ target=“_blank“>Register now to nominate your brand</a>.</p>

This article was written by ForexLive at forexlive.com.

<p class=“MsoNormal text-align-start“>Global multi-asset fintech group <a target=“_blank“ href=“https://www.plus500.com/“ target=“_blank“>Plus500</a> announces the launch of its innovative <a target=“_blank“ href=“https://www.plus500.com/en/Insights“ target=“_blank“>‘+Insights’</a>, a new big-data analytical tool, designed to provide customers with access to real-time and historical trends, based on the Group’s base of over 23 million registered customers. ‘+Insights’ is now accessible to all clients through the company’s over-the-counter trading platform, as a complementary service across its web app, iOS and Android offerings.</p><p class=“MsoNormal“>The release of ‘+Insights’ is the latest in a long series of innovative product developments making up Plus500’s array of advanced proprietary technology solutions driving the Group’s popularity to new heights. Despite the economic uncertainty dominating the financial markets, the multi-asset fintech firm has seen its H1 2022 revenue soar 48% from $346.2 million reported in the same period a year ago to $511.4 million.</p><p class=“MsoNormal“>Showing consistent growth throughout Q3 of 2022 regardless of the insipid market conditions, the market leader recorded $709.5 million in revenue, 27% higher compared to the same period a year earlier ($557.6 million). </p><p class=“MsoNormal“>With a robust customer income, which in Q3 of 2022 reached $149.4 million, the company has proven that customer engagement is the linchpin of its business. The Group’s continued investment in its ESG framework is evidenced by the offering of Plus500’s ‘+Insights’. This new tool illustrates the fintech Group’s responsiveness to challenging market conditions and ability to integrate customer feedback into a compelling product release centered around customer care, education, and enhanced trading experience. </p><p class=“MsoNormal“>As a result of the Group’s extensive market position and high levels of volumes on its trading platforms, Plus500 utilises its unique proprietary data to generate dedicated tools and content to empower its customers.</p><p class=“MsoNormal“>By tapping into aggregated and anonymous Big Data based on real-time and historical price action steering the trading community’s activity, traders can use exclusive insights to help them in their daily trading activities and to improve their decision-making, subject to their own independent discretion.</p><p class=“MsoNormal text-align-start“>What <a target=“_blank“ href=“https://www.plus500.com/en/Insights“ target=“_blank“>‘+Insights’</a> essentially brings new to the online trading and investment space is the ability to segment trading data based on customizable filters that allow traders to tailor their experience as they see fit. Essentially, with the aid of these filters, Plus500 clients can zoom in on “Top 10” lists of “Most Followed,” “Most Viewed,” “Most Traded, Bought and Sold” assets and which ones have generated the “Highest Profit/Loss from a Position.”</p><p class=“MsoNormal“>Further strengthening Plus500’s footprint in the fintech and financial sectors, the new release is part of the Group’s foray into the social trading space with a strong emphasis on data analytics and how it can be used in trading. </p><p class=“MsoNormal“>Referring to the launch of ‘+Insights’ as “the latest realization” of the Group’s strategy to further advance its “position as a global multi-asset fintech group,” David Zruia, Plus500 Chief Executive Officer, said:</p><p class=“MsoNormal“>“ ’+Insights’ is a significant technological achievement by Plus500, driven by our technology teams, who have developed a powerful engine which that can analyze millions of data points in real time and aggregate them to help empower customers in their trading decisions. ‘+Insights’ will revolutionize our customers’ approach to trading by enabling them to make more informed decisions.”</p><p>About Plus500</p><p class=“MsoNormal“>Plus500 is a global multi-asset fintech group operating proprietary technology-based trading platforms. Plus500 offers customers a range of trading products, including OTC (“Over-the-Counter” products, namely Contracts for Difference (CFDs)), share dealing, as well as futures and options on futures. </p><p class=“MsoNormal“>The Group retains operating licenses and is regulated in the United Kingdom, Australia, Cyprus, Israel, New Zealand, South Africa, Singapore, Seychelles, the United States, Estonia, and Japan and through its OTC product portfolio, offers more than 2,500 different underlying global financial instruments, comprising equities, indices, commodities, options, ETFs, foreign exchange and cryptocurrencies. Customers of the Group can trade its OTC products in more than 50 countries and 30 languages. Plus500 does not permit customers located in the US to trade its OTC products.</p><p class=“MsoNormal text-align-start“>For further details, visit <a target=“_blank“ href=“https://www.plus500.com/“ target=“_blank“>www.plus500.com</a></p>

This article was written by ForexLive at forexlive.com.