What to watch for on Wednesday, October 19:
The US dollar ended Tuesday mixed in the forex market, not far off its daily opening levels. Markets lacked a clear direction as government bond yields held steady while macro data was mixed.
Attention was once again focused on the United Kingdom. During trading hours in London, the Financial Times suggested that the Bank of England may delay the start of the program to sell quantitatively adjusted bonds, sending the pound higher and adding pressure to the dollar. However, the BOE was quick to debunk the headline, saying it was “inaccurate”, so the dollar rose slightly, but failed to hold gains amid rising stocks and stable bond yields. of the State.
The GBP/USD pair wavered with the headlines and ended the day with modest losses around 1.1320. The EUR/USD pair extended its weekly advance a few points to 0.9875 to trade around 0.9850.
The USD/JPY pair continued to rise and broke above 149.00, its maximum in more than 30 years. She suffered a short-term setback during European trading hours, losing around 100 points before recovering. It is now trading around 149.20. The 20-year Japanese government bond yield has reached its highest level since 2015.
AUD/USD rose, now struggling with 0.6300, while USD/CAD also advanced and traded at 1.3740. The Loonie was hit by further declines in crude oil prices, with WTI now trading around $82.40 a barrel. Gold was also under pressure but ended the day little changed at around $1,650 a troy ounce.
On Wednesday, the EU, UK and Canada will release updated inflation data that could trigger volatility moves.
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Source: Fx Street
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