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Forex Today – Asian Session: Risk Related Sentiment Tilts Lower

What you need to know on Tuesday, October 19:

The dollar lost some ground on Monday, although it ended the day mixed across all currency markets and within familiar levels. A tight macroeconomic calendar keeps investors dependent on directional sentiment, the latter tracking US government bond yields. Speaking of which, the 10-year US Treasury yield reached a high of 1.627%, but ended the day at around 1.58%.

Asian indices fell after Chinese macroeconomic figures were softer than expected. European indices followed the negative lead, while US traders fought back, and Wall Street ended the day around its opening levels.

The dollar fell slightly against most of its main rivals. EUR / USD is trading around 1.1610, while GBP / USD is at 1.3730. AUD / USD and USD / JPY ended the day unchanged, while USD / CAD marked lower, despite weakening oil prices.

Crude oil prices hit new multi-year highs before retreating. The WTI closed at $ 81.50 a barrel. Gold ended the day with modest losses at around $ 1,764.60 a troy ounce.

Attention now shifts to UK inflation data as the Bank of England has hinted at a possible rate hike as a first step should inflation continue to rise above desired levels.

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