A lot of position adjustments for the opening week of November as the market awaits the highly important reports due this week from the Federal Reserve Quantitative Easing (QE), the Jobs report from the US and the much anticipated election results from the United States as well. With China on the back-drop report of having their manufacturing numbers beating expectations have led a rather modest reactions from the other Asian currencies such as the Korean Won and the Japanese Yen leading to its all time high versus the US dollar. As the market was omehow spooked with the USDJPY rising to a intra-day high of 81.42 and is now back to it original price level of 80.45 from last week's closing price levels.
Noticeably, the opening prices within the major pairs led to an opening gap which may eventually lead to a continuation of its original trend. And this is for the USD to still continue to move lower. The Major USDX at the 76.99 will again attempt to move lower from the October low of 76.14 that may cause some wider trading ranges for prices on almost all the major pairs and this would include the cross rates. This would occur on a day to day basis as indicated during the opening prices for the week of November.
Noticeably, the opening prices within the major pairs led to an opening gap which may eventually lead to a continuation of its original trend. And this is for the USD to still continue to move lower. The Major USDX at the 76.99 will again attempt to move lower from the October low of 76.14 that may cause some wider trading ranges for prices on almost all the major pairs and this would include the cross rates. This would occur on a day to day basis as indicated during the opening prices for the week of November.
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