The USD Index Is in the Red

During yesterday’s trading, the USD weakened against the basket of the major currencies despite the strong economic data. For example, the Purchasing Managers’ Index by ISM for October reached 60.3 while the experts predicted only 59.3. The investors are waiting for the Congress election results. The USD index (#DX) closed in the red (0.27%).

The British pound strengthened against the USD despite the weak economic stats from Great Britain. The Purchasing Managers’ Index in GB for October lowered to 52.2 instead of the expected 53.3. Still, the financial market participants are positive regarding the GBP, since Great Britain and the EU might reach a Brexit agreement soon.

During the Asian trading session, the Reserve Bank of Australia reached a decision regarding the key interest rate. Just as the expert predicted, it remained at 1.50%. The regulator plans to keep the current monetary policy course.

The prices on oil are consolidating. Right now, the WTI futures are trading at 62.85 USD/barrel. At 23:30 we expect an API Weekly Crude Oil Stock report.

Market Indicators

The major US stock indices show mixed results: #SPY (+0,55%), #DIA (+0,80%), #QQQ (0,25%).

The 10year US government bonds yield is 3,203,21%.

• JOLTS Job Openings report for September (US)17:00 (GMT+2:00);
• Various reports on the state of the Labour market (NZ)23:45 (GMT+2:00).

by JustMarkets, 2018.11.06