FxWirePro: GBP/AUD consolidating around 1.8980, room for further gains 
Cardano Price Drops 15% as Whales Sell 110 Million ADA 
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts 
BlackRock’s Rick Rieder Favors Bonds Over Stocks as Treasury Yields Surge 
Geopolitical Shocks That Could Reshape Financial Markets in 2025 
FxWirePro: GBP/USD retreats as traders await US and UK inflation data 
JPY Major Currency Score: USDJPY Bullish; AUDJPY, NZDJPY, EURJPY, CADJPY, and CHFJPY Bearish 
EURJPY Pullback Stalls: Short-Covering Bounce Faces Overhead Resistance Near 177.60 
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential 
FxWirePro: USD/JPY eases slightly but outlook is bullish 
Bitcoin Price Drops as US Dollar Hits 18-Month High 
Zcash Price Analysis: Can ZEC Rebound Above $1,300? 
Binance to Shut Down Crypto Mining Pool Services on November 10 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
XRP Price Holds $1.35 Support as Bears Target $1.25 
ECB-BoE Policy Divergence Drags
EURGBP trades weak for the third consecutive week 
Add as a preferred source on Google
The HKMA upsized its intervention, and bought HKD17.6bn (USD2.2bn) over the past 24 hours, with total volume touching HKD51.3bn (USD6.5bn).
USDHKD, however, has been hovering around 7.8495, still quite close to its upper limit at 7.85.
This morning the HKMA said that it expects the HIBOR to rise incrementally, and they didn’t see large scale of shorting HKD positions.
On daily plotting of USDHKD, we spotted out whipsaws after major uptrend with a sharp hanging man pattern which is bearish in nature (see oval-shaped area). Well, this bearish pattern is coupled with RSI and stochastic curves boiling up with overbought pressures signals extreme weakness.
Whereas on the intermediate trend (refer weekly plotting), a potential hanging man is traced with one day to spare. Nevertheless, we cannot afford to isolate the signal as there is no substantiation from both leading as well as lagging indicators. Hence, contemplating the major uptrend, it is unwise to buck the trend.
Consequently, with a view to arresting potential downside risks of USDHK, we advocate buying 1m -0.49 delta puts as shown in the diagram. Compared to short selling the underlying spot FX, it is more convenient to bet against the spot FX by purchasing put options as the investor does not have to borrow the underlying outrights.
Additionally, the risk is capped to the premium paid for the put options, as opposed to unlimited risk when short selling the underlying outright.
However, put options have a limited lifespan. If the underlying spot FX price does not move below the strike price before the option expiration date, the put option will expire worthless.
Currency Strength Index: FxWirePro's hourly USD spot index was at 77 (bullish) while articulating at 14:09 GMT. For more details on the index, please refer below weblink:
http://www.fxwirepro.com/currencyindex
FxWirePro launches Absolute Return Managed Program. For more details, visit:
