- Summary:
- In the American forex calendar we have the Wholesale Inventories m/m and JOLTS Job Openings due at 14:00GMT. We have a quiet economic calendar during
We have a quiet economic calendar during European session today. The Eurogroup meeting starts but we don’t expect to provide any market-moving news. Bank of France September industry sentiment indicator will be released at 6:30GMT. The BoE FPC Meeting Minutes will be released at 8:30GMT.
In the American forex calendar we have the Wholesale Inventories m/m and JOLTS Job Openings due at 14:00GMT.
Crude oil traders await the EIA Crude Oil Stocks Change and EIA Cushing Crude Oil Stocks Change due at 14:30,
In our central ank calendar, Fed Chair Powell will deliver a speech at 15:00GMT. The FOMC minutes from the September meeting will be released at 18:00GMT. FED cut interest rates by 25 basis points. Investors are pricing in a more than 70% chance of the Federal Reserve to cut rates by 25 basis points at the October 30 meeting.
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[vc_single_image image=”14654″ img_size=”medium” alignment=”center” style=”vc_box_rounded” onclick=”custom_link” img_link_target=”_blank” link=”https://news.investingcube.com/q4-global-market-outlook-eurusd-gold-crude-oil-bitcoin-sp-500/”]During the Asian trading session, the Australia Westpac Consumer Confidence came in at -5.5% in October from previous -1.7%. Japan Machine Tool Orders (YoY) came in at -35.5% (September) vs -37.1%.
Asian indices are trading lower today; Nikkei is 0.63% lower at 21,458. EURUSD trades 0.01% higher at 1.0957; the USDJPY is 0.0% higher at 107.17 while the AUDUSD is 0.12% higher at 0.6736.
The central bank of China set the Yuan rate (USDCNY) at 7.0728 versus yesterday settlement at 7.026.
Trade tensions between US and China and EU and US after new tariffs and political turbulence in Capitol Hill will continue to have a significant impact on forex markets. Brexit developments will be the main force that drives GBP.