The dollar index posted its biggest quarterly gain last week, since the first quarter of 2015. Yet, it fell on a weekly basis for the first time in three weeks.  

USD/EUR rose on Friday, 30^th September, but narrowed its gains in late trading, with the trend influenced by the end-of-quarter trading.  

Meanwhile, riskier commodity-related currencies fell sharply after European inflation hit a record high and U.S. consumer spending grew faster than expected. 

Technical Analysis：

(EUR/USD 1-hour chart)  

We focus on the 0.9701-line today. If EUR runs steadily below the 0.9701-line, then pay attention to the support strength of the two positions of 0.9597 and 0.9559. If the strength of EUR breaks above the 0.9701-line, then pay attention to the suppression strength of the two positions of 0.9810 and 0.9879   

GBP Intraday Trend Analysis   

Fundamental Analysis：

GBP/USD rose, having fallen earlier in the session.  

GBP rose for a fourth straight session after a wild fall as markets worried about the U.K.’s plans to cut taxes and increase borrowing. 

After hitting a record low on Monday, the pound is poised to rise on a weekly basis, with the Bank of England buying British government treasury bonds on Wednesday, Thursday and Friday. 

Technical Analysis： 

(GBP/USD 1-hour chart) 

Execution Insight:   

GBP is mainly focused on the 1.1212-line today. If GBP runs below the 1.1212-line, it will pay attention to the suppression strength of the two positions of 1.1013 and 1.0926. If GBP runs above the 1.1212-line, then pay attention to the suppression strength of the two positions of 1.1355 and 1.1463. 

2. Precious Metals Market Insight   

Gold   

Fundamental Analysis:   

Gold rose to a one-week high on Friday, 30^th September 2022, as the dollar retreated from recent highs, but the price is poised to record its worst quarterly performance since last March, with fears of an imminent massive Federal Reserve rate hike weighing on it. 

So far this quarter, gold is down 8%. This will also be the sixth consecutive month of gold price declines, the longest monthly streak in four years. 

Rising interest rates reduce the attractiveness of gold as they increase the opportunity cost of holding a non-yielding asset. 

Technical Analysis：   

(Gold 1-hour chart)   

Trading Strategies:   

Gold pays attention to the 1660-line today. If the gold price runs steadily below the 1660-line, then it will pay attention to the support strength of the 1648 and 1639 positions. If the gold price breaks above the 1660-line, then pay attention to the suppression strength of the two positions of the 1680 and 1686.         

3. Commodities Market Insight   

WTI Crude Oil   

Fundamental Analysis:

Oil prices fell in choppy trade on Friday, 30^th September 2022, but posted their first weekly gain in five weeks, helped by the possibility that OPEC+ will agree to cut crude output when it meets on 5^th Oct 2022. 

Both contracts were up more than $1 at the beginning of the session, but then turned lower.

OPEC’s oil production rose in September to its highest level since 2020, exceeding its commitment to increase production that month, a Reuters survey found. 

Technical Analysis：   

(Crude oil 1-hour chart)

Trading Strategies:   

Oil prices focus on the 81.07-line today. If the oil price runs above the 81.07-line, then focus on the suppression strength of the two positions of 82.41 and 79.12. If the oil price runs below the 81.07-line, then pay attention to the support strength of the two positions of 80.00 and 79.12.  

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