Forex Market Pulse — October 15, 2025
USD softens as record-breaking gold rally steals the spotlight; USD/JPY hovers near 151 while traders weigh policy hints and shutdown risks.
Today’s Snapshot
- Gold: Surged above $4,200/oz for the first time, driven by Fed cut bets and risk hedging.
- USD/JPY: Trading around 151.0 with a 150.9–151.9 intraday range as traders monitor BoJ moves.
- Macro: U.S. government shutdown limits data, keeping focus on Fed commentary.
What’s Moving Markets
Dovish Fed tone fuels gold rally. Traders continue to price in rate cuts, while geopolitical risks prompt investors to seek safe havens, driving bullion above $4,200.
USD/JPY is stable but sensitive. The pair consolidates near 151 amid yield volatility and Japan’s ongoing intervention watch.
Data blackout. The government shutdown is delaying key economic releases, amplifying reliance on central-bank guidance and yields.
Quick Technical View
- XAU/USD: Bullish above $4,200 with resistance at $4,250 and potential support near $4,150.
- USD/JPY: Holding range; a break below 150.8 could invite momentum selling.
What to Watch Next
- Fed speakers and rate-path comments.
- Gold price behavior above $4.2k.
- USD/JPY reaction to Japanese officials.
- Market liquidity during data gaps.
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