Last week, the greenback strengthened significantly against the basket of world currencies. The dollar index (#DX) has set new local highs. The demand for risky assets is still low amid a rapid increase in the number of people infected with COVID-19, as well as ahead of the US presidential election, which will be held tomorrow. Trading activity and volatility may increase significantly.
Financial market participants also expect the meetings of the Reserve Bank of Australia, the Bank of England, the Fed and the report on the US labor market for October. Experts forecast that the RBA will cut its key interest rate from 0.25% to 0.10%. It is expected that the Bank of England and the Fed will keep the key marks of monetary policy at the same levels. We recommend paying attention to the comments by the regulators. These events may affect the further alignment of forces on currency majors.
Oil quotes continue to show a negative trend. At the moment, futures for the WTI crude oil are testing the $34.90 mark per barrel.
Market indicators
On Friday, sales prevail in the US stock market: #SPY (-1.04%), #DIA (-0.57%), #QQQ (-2.54%).
The 10-year US government bonds yield has become stable. At the moment, the indicator is at the level of 0.86-0.87%.
- - German manufacturing PMI at 10:55 (GMT+2:00);
- - UK manufacturing PMI at 11:30 (GMT+2:00);
- - ISM manufacturing PMI in the US at 17:00 (GMT+2:00).
by , 2020.11.02
We advise you to get acquainted with the daily forecasts for the major currency pairs.This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
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