The USD is weakened against the basked of other currencies due to the release of the weak economic data. For example, the number of the primary application for unemployment benefits reached 214K instead of the 213K. The Purchasing Managers’ Index by ISM lowered to 57.7 in October, while the experts were expecting 59.0. The USD index (#DX) retreated from the monthly minimums and closed in the negative zone (-0.84%).
The British pound strengthened against the USD after the news that the GB and the EU might finally reach an agreement on Brexit. The new treaty allows the British financial companies to keep working on the European markets after the Brexit is over. The GBP is also supported by the fact that the Bank of England decided to retain the key interest rate at 0.75% and hinted that it might raise further.
A Retail Sales report from Australia was published today, during the Asian trading session. The indicator reached 0.2% in September and turned out to be worse than the expected value of 0.3%. Today we also expect important economic stats from the EU, Great Britain, USA and Canada.
The prices on oil are consolidating. At the moment, the WTI futures are at 63.70 USD/barrel.
Market Indicators
Yesterday, the major US stock indices closed in the green: #SPY (+1,06%), #DIA (+1,01%), #QQQ (+1,32%).
The 10-year US government bonds yield is 3.15-3.16%.
The Economic News Feed for 02.11.2018:
- Purchasing Managers’ Index (GER) – 10:55 (GMT+2:00);
- Construction Purchasing Managers’ Index (GB) – 11:30 (GMT+2:00);
- Various Reports on the Labour Market (US) – 14:30 (GMT+2:00);
- Employment Change (CA) – 14:30 (GMT+2:00).
