Forex News

A couple of light releases coming up in Europe today

image

The bond market observed a strong rally in US trading yesterday and that led to the dollar falling while stocks saw a notable resurgence as well. The greenback in particular saw some heavy selling with GBP/USD running up towards 1.1500, nearing its early October highs, while USD/JPY tumbled from 148.75 to around 147.50 amid the plunge in yields. The latter is a much welcome development for Japan officials, allowing them to breathe a sigh of relief for another day at least.

As we look to get into the new day, bond yields are still keeping on the retreat with 10-year Treasury yields down another 2 bps to 4.087% at the moment. But equities are struggling to hold the momentum with S&P 500 futures down 38 points, or 1.0%, as we look towards European trading.

Meanwhile, the dollar is keeping more mixed but changes are light as the focus now shifts towards key central bank meeting decisions in the week ahead. It’s going to be a big 8 days in markets and that will shape up the narrative as we approach November.

0645 GMT – France October consumer confidence
0800 GMT – Eurozone September M3 money supply
0800 GMT – Switzerland October Credit Suisse investor sentiment
1100 GMT – US MBA mortgage applications w.e. 21 October

That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.


Notice: ob_end_flush(): failed to send buffer of zlib output compression (1) in /var/www/vhosts/beta.livemarkets.com/wp-includes/functions.php on line 5420

Notice: ob_end_flush(): failed to send buffer of zlib output compression (1) in /var/www/vhosts/beta.livemarkets.com/wp-includes/functions.php on line 5420