Why is gold rising during today's Asia trading session?

Gold is up 0.49% on the day to 3895.73, even though the daily trend reads down, the 14-day RSI is at 29.3 and the five-day change stands at -2.55%. Recent coverage from FX Street and FXEmpire has kept a technical focus on gold and silver, which may be shaping sentiment around current levels, though that alone does not explain today's move.

What European economic data releases are scheduled for today?

Germany publishes Retail Sales for both the year-on-year and month-on-month readings at 07:00 UTC, followed by manufacturing PMIs from Spain at 08:15 UTC, Italy at 08:45 UTC and Germany at 08:55 UTC. ECB's Vujčić speaks twice, at 09:45 and 10:00 UTC, and ECB's Nagel speaks at 12:00 UTC, with a Canadian manufacturing PMI due later at 14:30 UTC.

How are major currency pairs performing in the Asia session?

Moves are small across the board: EUR/USD is up 0.01% on the day to 1.11604, USD/JPY is up 0.15% to 157.776, and GBP/USD, AUD/USD and USD/CAD are each down 0.03%. EUR/USD's day range sits between a day high of 1.11645 and a day low of 1.11428, underscoring how narrow trading has been so far.

What is driving weakness in WTI crude oil today?

WTI crude is down 0.57% on the day to 101.499, trading between S1 at 101.065 and the daily pivot at 102.586, even though its daily trend still reads up and the RSI is at 64.7. FACTS does not point to a specific headline cause for the move, so the pullback is best read against those technical levels rather than any single catalyst.

Forex Market Update: Gold Firms, FX Pairs Hold Range in Asia

Session brief Neutral bias Nov 2, 2026, 00:49 UTC

Daniel TanAsia-Pacific Market Analyst · ForexR analyst

Gold, the Nasdaq 100 and Ethereum lead gains in the Asia session while EUR/USD, GBP/USD and USD/CAD stay rangebound ahead of German retail sales and euro area manufacturing PMIs.

Instrument	Last	Day change	Pivot	Daily trend
EUR/USD	1.11604	+0.01%	1.11697	Down
Gold (XAU/USD)	3,895.73	+0.49%	3,924.32	Down
GBP/USD	1.33846	-0.03%	1.33975	Mixed
Bitcoin (BTC/USD)	78,035.50	+0.29%	77,768.96	Mixed
USD/JPY	157.776	+0.15%	157.451	Mixed
AUD/USD	0.70284	-0.03%	0.70284	Mixed
USD/CAD	1.39687	-0.03%	1.39681	Mixed
Ethereum (ETH/USD)	2,268.99	+0.73%	2,266.27	Down
Nasdaq 100 (US100)	28,555.6	+0.61%	28,498.0	Down
WTI Crude Oil (XTI/USD)	101.499	-0.57%	102.586	Up
Data as of 2026-11-02 00:45 UTC.

Asia Session Overview: Gold and Stocks Firm as FX Holds Tight

In Asia trade near 00:45 UTC, the split in today's tape is clear: gold, equities and crypto are firmer while the major currency pairs stay tightly bound. Ethereum leads gainers, up 0.73% on the day to 2268.99, with the Nasdaq 100 close behind at up 0.61% on the day to 28555.6 and gold up 0.49% on the day to 3895.73. Bitcoin is also higher, up 0.29% on the day to 78035.5.

On the other side of the ledger, WTI crude oil is the session's laggard, down 0.57% on the day to 101.499, while GBP/USD, AUD/USD and USD/CAD are each down a modest 0.03% on the day. EUR/USD is essentially flat, up just 0.01% on the day, and USD/JPY is firmer at up 0.15% on the day. With the moves split across pairs rather than pointing one way for the dollar, the near-term bias reads neutral heading into the London session, which opens at 07:00 UTC.

Currency Market Dynamics: EUR/USD and USD/JPY Hold Their Ranges

Instrument	Last	Change %	Daily trend
EUR/USD	1.11604	+0.01%	Down
GBP/USD	1.33846	-0.03%	Mixed
USD/JPY	157.776	+0.15%	Mixed
AUD/USD	0.70284	-0.03%	Mixed
USD/CAD	1.39687	-0.03%	Mixed
Gold (XAU/USD)	3895.73	+0.49%	Down
WTI Crude Oil (XTI/USD)	101.499	-0.57%	Up
Nasdaq 100 (US100)	28555.6	+0.61%	Down
Bitcoin (BTC/USD)	78035.5	+0.29%	Mixed
Ethereum (ETH/USD)	2268.99	+0.73%	Down

EUR/USD sits between S1 at 1.11252 and the daily pivot at 1.11697, with both the daily and four-hour trend reading down and the 14-day RSI at 37.7. The five-day change of -0.37% points to a pair still carrying last week's pressure even though today's move is marginal. USD/JPY, by contrast, trades between the daily pivot at 157.451 and R1 at 157.96, with the daily and four-hour trends both reading mixed and the RSI near the middle at 48.2.

GBP/USD is at 1.33846, between S1 at 1.33619 and the pivot at 1.33975, with the four-hour trend up even as the daily reads mixed. AUD/USD sits almost exactly on its own daily pivot of 0.70284, and USD/CAD trades between its pivot at 1.39681 and R1 at 1.39953. For a side-by-side read on how these moves stack up across currencies, the currency strength meter tracks relative strength through the session.

US Treasury yields closed October 30 with the 2-year at 4.56%, down 5 basis points versus the prior session, and the 10-year at 4.94%, down 4 basis points, leaving the 2s10s curve near 38 basis points as backdrop context for the dollar rather than a driver of today's moves.

Setups to Watch: Gold, Crude Oil and EUR/USD

Gold is up 0.49% on the day to 3895.73 but still carries a down daily and four-hour trend and an RSI of 29.3, with price sitting between S1 at 3822.39 and the daily pivot at 3924.32. A reclaim of that pivot would open the way to R1 at 3978.60, while a slip back toward S1 at 3822.39 would mark a return to the pressure behind the five-day change of -2.55%.

WTI crude is down 0.57% on the day to 101.499 despite an up daily trend and an RSI of 64.7, with price between S1 at 101.065 and the pivot at 102.586. A move back above the pivot would bring R1 at 103.607 into view, while a break of S1 at 101.065 would run counter to the daily uptrend.

EUR/USD, at 1.11604, sits between S1 at 1.11252 and the pivot at 1.11697. Clearing the pivot would shift focus to R1 at 1.12035, while a break of S1 at 1.11252 would extend the pressure already reflected in the five-day change of -0.37%. The pivot point calculator can map these same levels against other instruments.

Newsflow: Metals Under Technical Scrutiny, Yen and AUD Outlooks in Focus

Coverage from FX Street and FXEmpire kept a technical focus on precious metals, continuing to flag downside risk in gold and silver. On currencies, Forexcom's outlooks this week spanned both AUD/USD and EUR/USD, while ExchangeRates reported on a forecast call for a yen recovery further out.

European Session Ahead

The calendar picks up as London approaches, with several euro area releases due before the Asia session's next milestone. All times are in UTC:

07:00 — German Retail Sales (YoY), previous -0.4%
07:00 — German Retail Sales (MoM), estimate 0.4% versus a previous 1.3%
08:15 — Spanish HCOB Manufacturing PMI, estimate 50.6 versus a previous 51
08:45 — Italian HCOB Manufacturing PMI, previous 50.4
08:55 — German HCOB Manufacturing PMI, estimate 54.2, matching the previous 54.2
09:45 and 10:00 — ECB's Vujčić speaks
12:00 — ECB's Nagel speaks
14:30 — Canadian S&P Global Manufacturing PMI, previous 51.5

For a refresher on how to read this sequence of releases, the economic calendar guide covers how impact ratings and estimates are typically used.

Bottom Line

The Asia session shows gold, the Nasdaq 100 and the major crypto pairs firmer on the day while the major FX pairs stay confined to tight ranges around their daily pivots. With EUR/USD and USD/JPY both holding inside a narrow band and the broader dollar picture mixed across GBP/USD, AUD/USD and USD/CAD, the lean into the German retail sales and euro area PMI releases ahead of the London open reads neutral rather than directional.