Forex Market Update: New York Session Stays Mixed

Session brief Neutral bias Oct 29, 2026, 13:13 UTC

Nathan BrooksUS Markets & Federal Reserve Analyst · ForexR analyst

In the London and New York overlap the dollar lean is neutral: USD/JPY is up 0.15% on the day, EUR/USD is down 0.23% near S1, and the ECB release is still ahead at 13:15 UTC.

Dollar split in the London and New York overlap

In the London and New York overlap, the US dollar does not show one lean across pairs. USD/JPY is the only market higher on the day, up 0.15% at 158.049. USD/CAD is unchanged at 1.39934. Bitcoin and Ethereum are the laggards, each down 1.47%, with WTI crude down 1.22% and gold down 1.06%. AUD/USD is down 0.38%, EUR/USD is down 0.23%, GBP/USD is down 0.08%, and the Nasdaq 100 is down 0.07%. The live currency strength meter lines those day changes up by currency: the dollar is higher versus the yen, lower versus the euro, sterling, and the Australian dollar, and flat versus the Canadian dollar.

EUR/USD, GBP/USD, gold, Ethereum, and the Nasdaq 100 are down on the daily trend. USD/JPY, Bitcoin, AUD/USD, and USD/CAD are mixed on the daily trend. WTI is up on the daily trend even though it is lower on the day, and its four-hour trend is mixed. On the four-hour window, USD/JPY is up, USD/CAD and Bitcoin are down, and AUD/USD is mixed. Those windows do not agree, so the dollar bias for this overlap is neutral.

EUR/USD, USD/JPY, and gold on the pivot map

EUR/USD at 1.11262 sits between S1 at 1.112 and the daily pivot at 1.11443, with R1 at 1.11763 (how pivot points work). The daily trend is down. The four-hour trend is down. Over five days the pair is down 0.93%. The ATR is 59.6 pips. The day high is 1.11602 and the day low is 1.11242. A break under S1 at 1.112 would take the pair below this set. Reclaiming the daily pivot at 1.11443 would invalidate that path and put R1 at 1.11763 in view, above the day high at 1.11602. No actual reading is in for the ECB block at 13:15 UTC today, so this is the tape ahead of the statement.

USD/JPY at 158.049 sits between the daily pivot at 157.922 and R1 at 158.211, with S1 at 157.52. The daily trend is mixed. The four-hour trend is up. The five-day change is down 0.04%. The ATR is 94.3 pips. The day high is 158.079 and the day low is 157.582. A break above R1 at 158.211 would put the pair beyond that resistance and beyond the day high. A move back below the daily pivot at 157.922 would invalidate that view, with S1 at 157.52 the support underneath.

Gold at 4024.31 is below S1 at 4033.75 and beyond the bottom of the pivot ladder. The daily pivot is 4058.17. R1 is 4091.69. The daily trend is down. The four-hour trend is down. Over five days gold is down 2.82%. The ATR is 72.77 dollars. The day high is 4068.75 and the day low is 4015.78. S1 is overhead resistance because price is already beneath it. A recovery above S1 at 4033.75 would open the way back to the daily pivot at 4058.17. R1 at 4091.69 still sits above the day high. A move under the day low at 4015.78 would extend the break, and a return above S1 would invalidate it.

Headlines, Treasury yields, and the calendar

According to FX Street, coverage describes a firmer dollar, and both FX Street and Action Forex describe strain in the euro. Action Forex and FX Street each refer to a tougher Federal Reserve, while FX Street also describes weakness in gold and precious metals.

At the October 28 close, the two-year yield was at 4.67%, down 3 basis points from October 27, and the ten-year yield was at 5.05%, up 6 basis points, with the spread between them at 38 basis points. The three-month yield on that close was 4.18%. That prior close is context only.

Today at 13:15 UTC the ECB monetary policy statement, the deposit facility rate, and the main refinancing rate are due, with the deposit facility previous and estimate both at 2.5 and the main refinancing previous and estimate both at 2.65. The ECB press conference is today at 13:45 UTC, and ECB's Cipollone speech is today at 15:50 UTC. London closes at 16:00 UTC. Today at 23:30 UTC, Tokyo CPI is due, previous 2.7, along with Tokyo CPI ex fresh food, previous 2.7 and estimate 2.6, Tokyo CPI ex food and energy, previous 3, and the unemployment rate, previous 2.5 and estimate 2.5. Today at 23:50 UTC, large retailer sales, previous 1, retail trade year over year, previous 2.7 and estimate 3.3, and retail trade month over month, previous -1.2, are due. Tomorrow at 00:30 UTC, Australia's producer price index year over year is due, previous 3.6, and tomorrow at 03:00 UTC the Bank of Japan monetary policy statement is due. Timings for that run of releases sit on the economic calendar guide.

Bottom line

The dollar bias is neutral. On EUR/USD the daily trend is down and the four-hour trend is down, with price just above S1. USD/JPY is higher on the day, but its daily trend is mixed and its four-hour trend is up. USD/CAD is unchanged, and its four-hour trend is down. WTI is down 1.22% on the day, its daily trend is up, and its five-day change is 2.69%. GBP/USD at 1.33146 sits between the daily pivot at 1.33113 and R1 at 1.33511, with S1 at 1.32851. The daily trend on sterling is down. The four-hour trend on sterling is down. The high-impact ECB items are still set for 13:15 UTC today. Broader coverage of these markets is on the ForexR market analysis page.