Market updates on November 7

Market updates on November 7

Key events ahead:

EU economic forecasts – 12:00 MT (10:00 GMT)

Monetary policy summary by the Bank of England – 14:00 MT (12:00 GMT)

Speech by the BOE Governor Mark Carney – 14:30 MT (12:30 GMT)

The reports that China is ready to negotiate with the US on the possible cancellation of tariffs have increased the risk sentiment in the markets and pushed the risk-weighted currencies up.

  • USD/JPY was going down yesterday on the news that the US-China partial trade deal may not be signed in December. The positive update brought an upside momentum to the pair and pushed it upwards to the 108.99 level on H4. If this level is broken, the next resistance will be placed at 109.22. If the risk sentiment switches to negative, the retest of the 108.65 level seems likely. In case of a breakout of the 100-period SMA, bears will target the next support at 108.51.


  • GBP/USD is awaiting the monetary policy summary by the Bank of England. No rate changes are expected, that is why it is important to follow the comments by the BOE governor. On the 4-hour chart GBP/USD has been trading within the descending triangle pattern. The price is currently testing the upper border of a pattern at the 1.2874 level. If the BOE is hawkish, we expect a breakout of this level and a test of the 1.2897 level. After that, the next resistance will be placed at 1.2925. From the downside, the retest of the 1.2840 level will increase the chance of a fall towards 1.2808.


  • The Australian dollar has also been boosted by the risk-on sentiment. The pair has risen by more than 30 pips after the start of the European trading session and tested the 0.6905 level. Further key levels for bulls will lie at 0.6914 and 0.6923. However, the situation may change quickly. Thus, the aussie may slide below the 0.6877 level and test the 0.6865 level. As far as 0.6865 is broken, the next support will be placed at 0.6850.



Inflation Risks Return To The Markets
Inflation Risks Return To The Markets

Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices. Read the report to learn the freshest news of the day!

ECB Key Rate is in Focus
ECB Key Rate is in Focus

ECB is ready to take the decision about the key rate. What to expect from officials? Oil prices are high, and economy indicators demonstrate the slowing down in the strongest European economies.

Latest news

Fed’s Rate Pause and UK Inflation Slows
Fed’s Rate Pause and UK Inflation Slows

Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera