Trump reveals "huge deal", ECB holds firm for third consecutive meeting

On October 31, in early Asian trading on Friday, Beijing time, the U.S. dollar index was hovering around 99.45. On Thursday, affected by Powell's hawkish attitude, the U.S. dollar index strengthened and finally closed up 0.38% at 99.51. The benchmark 10-year U.S. Treasury yield finally closed at 4.0990%, and the 2-year U.S. Treasury yield, which is sensitive to the Fed's policy rate, closed at 3.6160%. Investors viewed recent trade developments as a cooling of tensions rather than structural changes in relations, and uncertainty remained. Spot gold rebounded from consecutive days of decline, regaining the 4,020 mark, and finally closed up 2.39% at $4,024.49 per ounce; spot silver finally closed up 2.84% at $48.92 per ounce. International oil prices fluctuated within a narrow range as traders assessed the impact of U.S. sanctions. WTI crude oil finally closed down 0.08% at US$60.16/barrel; Brent crude oil finally closed down 0.28% at US$64.02/barrel.

Analysis of major currency trends

U.S. dollar index: As of press time, the U.S. dollar is hovering around 99.45. The Federal Reserve cut interest rates by 25 basis points as expected. Further tapering of QE has been confirmed and is expected. Technically, if the USD Index manages to close above the 99.50 level, it will move towards the next resistance level at 100.00–100.15.

Euro: As of press time, EUR/USD is hovering around 1.1574. EUR/USD retreated on Thursday as the European Central Bank decided to keep interest rates on hold.fell, but traders are still digesting the Federal Reserve's "hawkish" interest rate cut on Wednesday, keeping EURUSD below 1.1600. Technically, EUR/USD fell below the support levels of 1.1585-1.1600 and is trying to close below 1.1550. If EUR/USD closes below 1.1550, it will test the next support level, which is located in the 1.1515–1.1530 range.

GBP: As of press time, GBP/USD is hovering around 1.3160. The Office for Budget Responsibility (OBR) is expected to cut its productivity forecast by around 0.3%, which could widen the fiscal gap by more than £20 billion. This www.centrdom.infoes ahead of Finance Minister Rachel Reeves’ Autumn Budget on 26 November, which has been a key factor in GBP’s underperformance amid rising bets on further rate cuts from the Bank of England (BoE). Technically, a successful test of the 1.3145–1.3160 ​​support level would open the way to a test of the next support level of 1.3015–1.3030.

Gold and crude oil market trend analysis

1) Gold market trend analysis

In the Asian market on Friday, gold hovered around 4027.51. Gold managed to regain some of its losses on Thursday, with prices trading near the $4,000 mark. However, this rise was capped due to widespread demand for the US dollar (USD). Following the Federal Reserve's (Fed) hawkish interest rate cut on Wednesday, the Bank of Japan (BoJ) decided to keep interest rates unchanged as widely expected. However, Bank of Japan Governor Kazuo Ueda made some dovish www.centrdom.infoments that sent the yen sharply lower while providing additional impetus to the dollar.

Technical: The bullish 20 SMA rebounded above the longer SMA, indicating that buyers still have broader control; the 20 SMA is at $4,080, which now acts as immediate resistance. The 100 SMA is also bullish, rising to $3,578, while the 200 SMA has risen to $3,340, both of which support the long-term bullish bias. Finally, the Momentum indicator has managed to bounce off recent lows but remains in negative territory, while the RSI indicator has recovered to 51, edging back to neutral; this rise hints at initial buying interest.

2) Crude oil market trend analysis

On Friday in the Asian session, crude oil was trading around 60.07. The Federal Reserve announced on Wednesday that it would cut its benchmark interest rate by 25 basis points, in line with market expectations, but suggested that this may be the last rate cut this year. In the Middle East, the world’s largestThe financial situation of oil exporting country Saudi Arabia is also becoming tight.

Technical: A close above $59.96 is critical. A break above $61.37 would push the price higher towards $62.37, while a break below $61.37 would potentially retest support. If $63.03 breaks out, the inner week and hammer pattern favor the bulls. Watch for 50-day confirmation - $65.17 and $66.77 continue to strengthen. Defense of support today keeps the second leg up scenario alive.

Foreign exchange market transaction reminder on October 31, 2025

To be determined, the central banks of the United Kingdom, France and Italy will hold seminars

09:30 China's official manufacturing PMI in October

10:00 National Development and Reform www.centrdom.infomission October press conference

15:00 Monthly rate of UK Nationwide House Price Index in October

15:30Swiss September actual retail sales annual rate

15:45France October CPI initial monthly rate

18:00 Eurozone October CP Initial value of I annual rate

18:00 Initial value of October CPI monthly rate in the Eurozone

20:30 Canadian August GDP monthly rate

20:30 US September nuclear review Annual rate of core PCE price index in September

20:30 Monthly rate of personal expenditures in September in the United States

20:30 Quarterly rate of labor cost index in the third quarter of the United States

20:30 Monthly rate of core PCE price index in September in the United States

21:30 Fed Logan gave a speech

21:45 Chicago PMI in October in the United States

times Fed Bostic participated in a seminar at 00:00 the next day

The total number of oil drilling rigs in the United States for the week to October 31 at 01:00 the next day

The above content is about "[XM Forex Platform]: Trump revealed the "huge deal" and the European Central Bank stayed on hold for the third consecutive meeting". It was carefully www.centrdom.infopiled and edited by the editor of XM Forex. I hope it will be helpful to your trading! Thanks for the support!

Live in the present and don’t waste your present life by missing the past or looking forward to the future.