The news is by your side.
AED
$0.27
0%
AFN
$0.01
-1.38%
ALL
$0.01
-0.49%
AMD
$0.00
-0.37%
ANG
$0.56
-0%
AOA
$0.00
+0.09%
ARS
$0.01
+0.13%
AUD
$0.68
+1.65%
AWG
$0.56
-0%
AZN
$0.59
0%

Forex Today: Risk on plus higher yields as investors struggle for a catalyst


What you need to know on Wednesday, October 20:

The American dollar edged lower against high-yielding rivals and remained flat against those considered safe-havens as the market’s sentiment somehow improved. Global indexes closed in the green, with speculative interest ignoring tepid macroeconomic figures.

The EUR/USD pair hit a three-week high of 1.1669 but ended the day in the 1.1630 price zone, as demand for the EUR was capped by comments from ECB’s Lane. The chief economist said that medium-term inflation pressures are under the central bank’s target, somehow suggesting a longer wait-and-see stance.

GBP/USD trades around 1.3800, backed by speculation the BOE will soon start raising rates. The UK will publish inflation figures on Wednesday and may trigger some wild action in the pound’s crosses.

The Australian dollar was the best performer, advancing up to 0.7485 against the greenback and retaining its intraday gains. The USD/CAD pair fell to 1.2310 but trimmed losses ahead of the close.

Crude oil prices maintained their positive tone, with WTI settling at $82.20 a barrel. Gold surged intraday but finished the day with modest gains at around $1,769 a troy ounce.

US Treasury yields rallied to fresh multi-week highs ahead of Wall Street’s close. The yield on the 10-year note hit 1.644% and settled nearby. Firmer yields may give the dollar a respite should the rally there continues.

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Investors prepare to sell on ETF news

 


Like this article? Help us with some feedback by answering this survey:



Read More : Forex Today: Risk on plus higher yields as investors struggle for a catalyst

You might also like
Leave A Reply

Your email address will not be published.