USD/JPY surges past multi-month trendline – Société Générale

USD/JPY has broken above a descending trendline after consolidating near 149, signaling further upside toward 155.40–156.50, Société Générale's FX analysts note.

Upward momentum builds for USD/JPY

"USD/JPY recently evolved within a brief consolidation but successfully defended the previous gap levels near 149. It has now broken out above this range and crossed a multi-month descending trendline, signalling a continuation of the upward move."

"The pair may gradually head higher toward the next projections at 155.40 and 156.50. The recent pivot low of 151.50 serves as short-term support."

Nov 3, 2025

EUR/USD: Broader fundamental outlook remains supportive of the Euro – OCBC

Euro (EUR) drifted lower, amid broad US Dollar (USD) rebound. Lingering political uncertainties due to French budget/government, hung parliament outcome in Dutch elections, French CPI underwhelmed, were among some of the factors weighing on EUR.

Spot Gold faces pressure on China VAT move – ING

Spot Gold comes under renewed pressure as China ends the VAT rebate for gold sales, raising costs for both investors and consumers, ING's commodity experts Ewa Manthey and Warren Patterson note, ING's commodity experts Ewa Manthey and Warren Patterson note.