<p style=““ class=“text-align-justify“>In the transition from Asia to Europe, the pair fell to a low of 145.10 before steadying a little. And as the dollar is sitting firmer across the board, we are seeing buyers come back into play for USD/JPY in a push back up to 146.47, near its highest levels on the day.</p><p style=““ class=“text-align-justify“>There’s not much news driving the push besides some added headlines on Japan’s stimulus package, said to be ¥71.6 trillion, according to the final draft of the economic package as cited by Reuters. But that isn’t a market mover by any means. Instead, this is largely flow-driven as we see buyers show some appetite after the continued fall in the past few days following the intervention play.</p><p style=““ class=“text-align-justify“>The fact that Treasury yields are also higher today (10-year yields up 5 bps to 4.065%) is also helping the mood, with the dollar finding a footing at the moment.</p>

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

<p class=“MsoNormal text-align-start“>Celebrating 23 years of excellence, sustaining innovation, and a holistic approach to finance,<a target=“_blank“ href=“https://arduprime.com/#/“ target=“_blank“>Ardu Prime</a> takes pride in launching a New Era, a name that has become synonymous with all-round service and investment offering, a clear vision for the future, and continuous development through collaboration and strategic partnerships within the financial and fintech realm and beyond.</p><p class=“MsoNormal“>To honor its prestige in the financial services arena, the company invited its employees, clients, and partners to an exclusive company event dedicated to their New Era of cross-collaboration in finance. “After more than two decades of working together, there’s no better way to show our gratitude to our team, clients, and partners than sharing the victory cup with them. We’re stronger together,” commented Sotiris Promponas, Ardu Prime CEO.</p><p class=“MsoNormal“>High-profile figures in the basketball world, including Theodoros Papaloukas, Georgios Printezis, Kostas Tsartsaris, and former player and current basketball commentator and TV anchor Dora Pantelli attended Ardu Prime’s exclusive New Era event.</p><p class=“MsoNormal“>Holding the media front pages, Ardu Prime’s corporate party provided the perfect opportunity to announce their grand partnerships such as its recent sponsorship engagements with two prestigious pan-European basketball competitions-Turkish Airlines EuroLeague and 7Days EuroCup. </p><p class=“MsoNormal“>Taking these partnerships to the next level, the brokerage firm recently impressed not only traders but also basketball fans by becoming the presenting partner of the EuroLeague Fantasy Challenge, where tens of thousands of fans battle for the title of the Best Fantasy Manager in Europe.</p><p class=“MsoNormal“>Sealing its success by sponsoring major sport events such as these, Ardu Prime strides into the New Era of financial services, gaining prestige, visibility, and an even more prominent position in the financial industry, as it ups its game.</p><p class=“MsoNormal“>With deep roots in the investment space, Ardu Prime continues to strengthen its presence both offline and online. Its New Era Twitter takeover campaign made waves on the social media platform lately, accumulating hundreds of likes daily. Cleverly summarizing Ardu Prime’s achievements in a visually attractive slide show, the social media campaign makes a statement in the online space: the new era of finance is already here.</p><p class=“MsoNormal“>In addition to this creative social media campaign, the global broker ramped up its efforts in the advertising space with an eye-catching digital “out-of-home” campaign that brings the Ardu Prime brand even closer to its local audience through outdoor advertisements on buses, streetcars, in airports and digital banners in prominent spots across Athens, the broker’s base of operations.</p><p class=“MsoNormal“>Joining the industry elite, Ardu Prime has exceeded the level of a traditional retail brokerage. The amplitude of its offering and unmatched client service have earned the brokerage quite a few accolades throughout the years, including “Best Investment Services Provider – Greece 2022”, “Most Reliable FX & CFD Broker – Greece 2022,” “Most Innovative Broker”, and more.</p><p class=“MsoNormal“>“Since 1999 when we entered the financial arena, we’ve been driven by three things: transparency, trust, and diversity. These are the values that still guide us today and the thrusters prompting us to innovate and upscale,” said Sotiris Promponas, Ardu Prime CEO.</p><p class=“MsoNormal text-align-start“>Carrying deep semantics, the New Era identifies with Ardu Prime’s new essence, including a further-reaching value proposition underpinned by four pillars of sustainability: Forex and CFD trading, cryptocurrency offering through<a target=“_blank“ href=“https://www.arducrypto.com/#/“ target=“_blank“>Ardu Crypto</a>, the broker’s powerhouse crypto trading and exchange platform, prime brokerage and liquidity services, and a compelling payment solution,<a target=“_blank“ href=“https://ardupay.com/#/“ target=“_blank“>Ardu Pay</a>.</p><p class=“MsoNormal“>The crypto exchange and payment solutions enhance the circle of the Greek broker’s already extensive offering spanning multi-asset and CFD trading on 25+ Cryptocurrencies, Forex, US Equities, indices, commodities, energy, and more asset classes popular among MT5 traders, alongside crypto custody, with all the facets of a fully-fledged solution.</p><p>Going from strength to strength</p><p class=“MsoNormal“>Not long ago, the financial firm caught the all-seeing eye of the media with its brand-new website launch and modern rebranding, which made the headlines of a slew of prestigious publications, including Finance Magnates, which featured Ardu Prime twice in a single day.</p><p class=“MsoNormal text-align-start“>The financial firm enjoyed the media’s attention for excellent client services and unrivaled brokerage offerings, being featured in high-caliber local and international publications, including Pan Finance Magazine, Forbes Magazine Greece, and others. With an impeccable reputation and an industry-wide recognition that other market players can only wish they had, Ardu Prime solidifies its position in the financial industry as it ushers in the New Era of brokerage services.</p>

This article was written by ForexLive at forexlive.com.

<ul><li>Prior -4.5%</li><li>Market index 201.1 vs 204.6 prior</li><li>Purchase index 160.4 vs 164.2 prior</li><li>Refinance index 394.6 vs 394.6 prior</li><li>30-year mortgage rate 7.16% vs 6.94% prior</li></ul><p style=““ class=“text-align-justify“>Yikes. The average interest rate of the most popular home loan in the US just rose another 22 bps in the past week to its highest since 2001. This sees another drop in mortgage activity, which is now grinding at its slowest pace since 1997. The latest drop this week in yields will be a welcome development at least but there is little comfort for the housing sector when you look at how things have been going over the past few months.</p><p>/<a target=“_blank“ href=“https://www.forexlive.com/terms/u/us-dollar/“ target=“_blank“ id=“fddda8f4-d5f8-4ee4-8e34-3760ed062f3c_1″ class=“terms__main-term“>US Dollar</a></p>

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

<ul><li>At this point, we look for getting to a neutral mode</li><li>In most places, we are not quite there yet</li><li>Central banks have to keep tightening policy, raise interest rates</li><li style=““ class=“text-align-justify“>This is because when inflation runs high, that undermines growth and hits the poorest parts of the population the hardest</li></ul><p style=““ class=“text-align-justify“>As for the IMF’s own projections, she reaffirms that it will take until 2024 for when central banks will only start to see the impact of their actions. Given how bleak the economic outlook may be in some major economies, rate cuts may come well before that. 😬</p>

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

<ul><li>Medium-term fiscal plan will now be full ‚autumn statement'</li><li>Has discussed this with BOE governor Bailey, says he understands the reasoning</li><li>Delay is the best way to make sure we take the right decisions</li></ul><p style=““ class=“text-align-justify“>I noted earlier <a target=“_blank“ href=“https://www.forexlive.com/news/hunt-and-bailey-spoke-yesterday-to-reaffirm-boes-independence-20221026/“ target=“_blank“>here</a> how gilts will not like such a delay and we are now seeing yields tick higher with 30-year yields up 11 bps on the day to 3.785% at the moment.</p>

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

<p class=“MsoNormal“>From L-R: Winson Cao – Co-founder and Director, ACY
Securities, Ms. Bonnie Shek – Director of Hong Kong Trade Development Council,
Australia and New Zealand.</p><p class=“MsoNormal“>ACY Securities,
one of the world’s leading tech-focused multi-asset CFD brokers, has recently
won the Business Excellence Award presented by the Hong Kong Australia
Business Association (NSW Chapter).</p><p class=“MsoNormal“>The award is
the most recent addition to the string of accolades given to ACY Securities
over the past few years.</p><p class=“MsoNormal“>In receiving
the award, Winson Cao, Co-founder and Director at ACY Securities, said “It’s an
honour to be recognised for our vision and mission to deliver the best service
and trading platform to our clients.”</p><p class=“MsoNormal“>He added,
“You can be assured that as we continue to build and grow ACY Securities as a
leading global player, we will adhere to the strategies and focused
implementation that’s been the guiding principle for our business.”</p><p class=“MsoNormal“>Now on its 23rd anniversary,
the HKABA NSW Chapter Business Awards is an annual celebration that recognizes
the entrepreneurial spirit and achievements of both small and medium
enterprises and corporations in all aspects of international trade affiliations
between New South Wales and Hong Kong Special Administration Region (HKSAR).</p><p class=“MsoNormal“>The HKABA
NSW Chapter 2022 Business Awards have three award categories:</p><p class=“MsoNormal“>• Best
Initiative</p><p class=“MsoNormal“>• Business
Excellence</p><p class=“MsoNormal“>• Export /
Import Excellence</p><p class=“MsoNormal“>Jack Fan,
Executive Officer at HKABA said, “We had a strong line up of competitive
companies that vied for this year’s award. And it’s been a privilege to be in
the company of distinguished businesses and entrepreneurs. I know that this
year’s awardees will continue to excel and shine as they grow their respective
businesses.”</p><p class=“MsoNormal“>The HKABA winners
were selected by an independent judging panel chaired by Ms. Bonnie Shek, Director
of Hong Kong Trade Development Council, Australia and New Zealand. She was joined
by Dr. Luca De Leonardis, Head of Investment Promotion, Australia & New
Zealand of Invest Hong Kong; and Ms. Karen Macmillan, Director of Hong Kong
Tourism Board, Australia.</p><p>About
ACY Securities</p><p class=“MsoNormal“>ACY
Securities is one of Australia’s fastest growing multi-asset online trading
providers, offering ultra-low-cost trading, rock-solid execution,
technologically superior account management and premium market analysis. The
key pillars we operate on are transparency, client-focus and technology. With a
track record of servicing clients since 2011, we are well-positioned to look
after your trading needs.</p>

This article was written by ForexLive at forexlive.com.

<p style=““ class=“text-align-justify“>How quickly things can change. As we got into Friday trading last week, the dollar was in a firm position all before some dovish Fed talk came in and things swung back the other way around. Fast forward to today and that reversal momentum has intensified with the dollar technicals falling apart against the major currencies.</p><p style=““ class=“text-align-justify“>EUR/USD has moved up to 1.0035 and above parity for the first time in five weeks as noted <a target=“_blank“ href=“https://www.forexlive.com/news/eurusd-hits-parity-for-the-first-time-in-five-weeks-20221026/“ target=“_blank“>here</a> while GBP/USD is up over 100 pips on the day as it comes up for air in a push to 1.1580. I pointed out some technical considerations for the latter <a target=“_blank“ href=“https://www.forexlive.com/news/cable-looks-to-come-up-for-air-as-dollar-loses-further-ground-20221026/“ target=“_blank“>here</a>. Meanwhile, USD/JPY is now tracking below 148.00 in a push to fresh lows since Monday:</p><p style=““ class=“text-align-justify“>This comes as Treasury yields are sliding further, with 10-year yields now down 8 bps to 4.03%. As mentioned earlier, that is a far cry from the peak on Friday at 4.335% – which came before all the dovish Fed talk. The rally in bonds yesterday translated to dollar selling and we are seeing more of that now in European trading.</p><p style=““ class=“text-align-justify“>Elsewhere, AUD/USD is up 1.4% against the dollar to 0.6485 and is looking for a push towards 0.6500 next:</p>

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

<ul><li>Some mistakes were made</li><li>There will be difficult decisions</li><li>Truss was not wrong to want to improve growth</li><li>Will not leave the next generation with debt to settle</li><li>Will have professionalism and accountability at every level</li></ul><p style=““ class=“text-align-justify“>For now, the drama is at least dying down but he still faces a tough challenge ahead in trying to bolster economic conditions. The UK outlook remains rather challenging at the moment and he has a tall order to try and steer things in the right direction. </p>

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

<p style=““ class=“text-align-justify“>There’s not much in it to really decipher as the pound is gaining some ground as the UK political uncertainty eases. Rishi Sunak has been announced as the new prime minister and he is set to deliver a statement in the coming minutes. GBP/USD is up 0.5% to 1.1330 levels at the moment and here’s a look at the near-term chart:</p><p style=““ class=“text-align-justify“>The near-term bias for the pair remains more bullish as price holds above the key hourly moving averages but there is still short-term daily resistance around 1.1400 for the time being. As such, the pair is sort of caught in between that for now as we gear towards key central bank meetings in the week ahead.</p><p style=““ class=“text-align-justify“>Dollar sentiment is more mixed today, with broader markets also not settling on a firm narrative. Equities are lower while bond yields are also on the retreat, so it is making for a bit of a choppy one in trading during the session.</p><p style=““ class=“text-align-justify“>But despite some easing in the political uncertainty, this still puts the pound in a position back to where it was before the whole Truss-Kwarteng mini-budget fiasco. The UK outlook remains extremely challenging amid high inflation, the energy crunch and the cost-of-living crisis and none of that has changed significantly.</p><p style=““ class=“text-align-justify“>As long as the Fed sticks to the status quo next week, it will continue to be tough to argue against the path of least resistance being for a move lower in cable.</p>

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

<ul><li>Prior -2</li></ul><p style=““ class=“text-align-justify“>The net order book balance among UK manufacturers fell by less than expected with expectations of price rises in the next three months also seen falling from +59 in September to +46 this month – that is the lowest since September last year. It is a positive development but overall sentiment remains gloomy with business optimism in Q4 (-48) sliding to its lowest since April 2020. CBI notes that:</p><p style=““ class=“text-align-justify“>“It’s a tough time for manufacturers. Price pressures remain acute, availability of raw materials is still a big issue.</p><p style=““ class=“text-align-justify“>“It is 49 years since manufacturing firms were this worried about being able to find workers with the skills they need. It’s really no surprise that sentiment has deteriorated further.“</p><p>/<a target=“_blank“ href=“https://www.forexlive.com/terms/g/gbp/“ target=“_blank“ id=“3a5ab7c1-ff09-45ea-87d4-eea6613bb754_1″ class=“terms__main-term“>GBP</a></p>

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