The US Dollar (USD) continues to soar, reaching six-month highs as traders anticipate the Federal Reserve's (Fed) next move post-meeting. With expectations of a hold in December, the USD remains in high demand. However, the ongoing government shutdown in Washington persists, with no deal in sight. Wednesday, November 5th, brings a crucial day of economic indicators and market movements. The US Dollar Index (DXY) has been on a five-day winning streak, breaking through the 100.00 psychological barrier and reaching multi-month highs. The weekly MBA Mortgage Applications, ADP Employment Change, S&P Global Services PMI, ISM Services PMI, and EIA's US crude oil stockpiles report are all on the agenda. The EUR/USD pair is under pressure, dropping below the 1.1500 support level for the first time since August, while Germany's Factory Orders, HCOB Services PMI, and Producer Prices will be released. The British Pound (GBP) continues to face selling pressure, with GBP/USD hitting new multi-month lows. The final S&P Global Services PMI will be a key indicator across the Channel. The USD/JPY pair is trading defensively, reversing Monday's gains due to risk-off sentiment. Japan's Average Cash Earnings, Reuters Tankan Index, and S&P Global Services PMI will be closely watched. AUD/USD has fallen to multi-day lows, below the 0.6500 support, influenced by the RBA's stability and the strong USD. WTI crude oil prices remain within a recent range, around $60 per barrel, despite oversupply fears and a stronger US Dollar. Gold prices have dropped significantly, returning to the $3,930 zone per troy ounce, while silver prices have fallen for three consecutive days, breaking below the $47.00 per ounce mark.
