What you need to know on Friday, October 22:
The risk faded on Thursday, and the dollar made the most of it. The US currency appreciated against most major rivals, except the CHF and JPY, which are safe havens. There was no particular catalyst behind the sad feeling, although renewed concern about inflation may be part of it. The 10-year US Treasury yield, followed closely, hit another multi-month high of 1,683%, ending the day at around 1.67%.
The EUR / USD pair turned down and is trading near a critical Fibonacci support level at 1.1615. GBP / USD once again failed around 1.3830 and settled at the 1.3780 price zone. AUD / USD retreated from a fresh 3-month high and settled around 0.7460, while USD / CAD bounced back to the 1.2370 price zone.
Gold ended the day virtually unchanged at around $ 1,782 a troy ounce, while crude oil prices tumbled after hitting three-year highs. A warmer winter forecast in the US offset supply concerns. The WTI closed at $ 82.50 a barrel.
The US Federal Reserve banned trading in stocks and restricted other investment activities by senior officials. The move came after President Jerome Powell sold up to $ 5 million worth of shares from his personal account in early October.
The European and Asian indices closed mostly in the red, although Wall Street managed to rally before the close, and the US indices ended the day on a mixed basis.
Friday will bring preliminary October PMI estimates for most major economies.