USD Continues to Strengthen on Shutdown Progress (11.11.2025)

The U.S. dollar gained on optimism surrounding a bipartisan deal to end the record 41-day government shutdown, sending EUR/USD lower to around 1.1560 after four days of gains. 

The yen held steady near 153.90 amid cautious BoJ remarks, while the pound paused around $1.318 ahead of key UK data. Meanwhile, gold climbed above $4,130 as traders priced in December Fed rate cuts, and silver extended its rally toward $50.90 on expectations of continued monetary easing.

EUR/USD Slips as Dollar Gains on Bipartisan Deal

EUR/USD eased to around 1.1560 in Asian trading after four consecutive days of gains, as the U.S. Dollar strengthened on optimism surrounding a potential government funding deal. The Senate passed the bill 60–40 with bipartisan support, sending it to the House for final approval. President Trump indicated he would sign the measure, likely ending the 41-day shutdown. Still, uncertainty over the economic outlook keeps Fed rate-cut expectations high, with markets pricing a 62% chance of a 25 bps move in December.

Technically, 1.1490 is the key support, while resistance is seen at 1.1600.

Yen Keeps Flat Before Future BoJ Policy

USD/JPY held near 153.90, just below its recent eight-month peak of 154.49, as markets awaited clearer signals on the Bank of Japan’s policy path. BoJ board member Junko Nakagawa said any policy adjustments would be approached carefully amid external trade risks. She cautioned that tariffs could pressure corporate profits but expected improvements driven by wage and consumption growth. The central bank’s latest report pointed to lingering uncertainty while leaving room for future policy changes if economic trends firm up.

Technically, resistance stands near 154.40, while support is firm at 152.50.

Gold Near $4,130 as Traders Price In December Cut

Gold climbed above $4,130 per ounce on Tuesday, a three-week high, as weak U.S. data raised expectations for a Fed rate cut. October job losses in government and retail, along with a 3.5-year low in consumer sentiment, increased bets for a 25 bps cut in December, now seen at 64%. Fed Governor Stephen Miran, however, suggested a larger 50 bps move due to soft inflation and rising unemployment. The U.S. Senate advanced a bill to end the 40-day government shutdown, easing some safe-haven demand. JP Morgan Private Bank projected gold could surpass $5,000 next year on strong central bank buying in emerging markets.

From a technical perspective, support is around 4095, and resistance is at 4150.

Sterling Pauses Near $1.318 Ahead of BoE Signals

The British pound hovered near $1.318 on Tuesday as investors awaited key UK data that could influence the Bank of England’s upcoming policy decision. The BoE held rates steady last week in a close 5–4 vote, shifting attention to December’s meeting. Traders now look to Tuesday’s jobs figures and Thursday’s preliminary Q3 GDP data for direction, with markets leaning toward a possible 25 basis-point rate cut.

From a technical view, support stands near 1.3050, with resistance around 1.3190.

Silver Extends Rally on Fed Cut Expectations

Silver (XAG/USD) rose for a third consecutive session, trading near $50.90 in Tuesday’s Asian session, as investors favored the non-yielding asset amid ongoing U.S. economic uncertainty. Fed Governor Stephen Miran told CNBC that inflation continues to moderate and reiterated support for monetary easing, suggesting a 25- to 50-basis-point cut in December. He added that the economy remains below full employment, and recent data since September justify further policy relaxation.

From a technical view, resistance stands near $51.40, while support is located around $47.70.