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On Monday, the dollar showed an increase on all fronts. The reason for this was another excessive rate increase at a monetary policy meeting

Tightening restrictions on COVID-19 in China may cause a 30% drop in iPhone production.

The Japanese government spent a record-breaking $ 42.8 billion on propping up yen by conducting currency interventions in October, as reported by the finance ministry.

On Wednesday, the fourth meeting of the Fed will be held, within which yet another benchmark rate hike by 0.75% is expected. Further, according to forecasts, the central bank might soften its so-called “hawkish” position and slow down the pace of hikes.

Australia's central bank raised its interest rate by 25 basis points for the second month in a row while revising its inflation forecast. The RBA said a further tightening is also likely to be necessary.

According to CoinTelegraph, the price of the cryptocurrency Dogecoin has changed significantly in the last week. After the acquisition of Twitter by Elon Musk, the price increased, thus, taking the eighth position in the world ranking of cryptocurrencies.

Ignazio Visco, the current governor of the Bank of Italy, says the European Central Bank (ECB) should curb inflation in a planned manner, anticipating the risks faced by the Eurozone.

The dollar rebounded ahead of a widely anticipated Fed interest rate hike, which led to gold prices declining. The US interest rates are at their highest levels since the 2007–2008 financial crisis.

Analysts at Goldman Sachs predict that the federal funds rate will peak at 4.75-5%. In addition, a new increase of 25bp is expected in March 2023. In total, Goldman Sachs advocates a November increase of 75bp, a December increase of 50bp, and subsequent steps of 25bp in both February and March.

According to Reuters, the Russian ruble has reduced its losses after Moscow said at the weekend that it would suspend its participation in a historic grain deal in the Black Sea.