What you need to know on Wednesday, October 27:
The US dollar ended the day on a mixed basis, particularly stronger against its European rivals. EUR / USD is at the lower end of its weekly range, trading in the 1.1590 price zone, while GBP / USD has hovered around 1.3760, which receives additional pressure from the European Commissioner for trading. Internal Market Thierry Breton, who said on Tuesday that Brexit has resulted in an “economic catastrophe” for the UK.
US CB consumer confidence unexpectedly rebounded in October, posting 113.8 from an upwardly revised 109.8. According to the official report, “The proportion of consumers planning to buy houses, cars and large appliances increased in October, a sign that consumer spending will continue to support economic growth during the final months of 2021.”
Crude oil prices started the day on the back foot, but managed to end the day with gains. The WTI closed at $ 84.60 a barrel. On the other hand, gold fell and closed around $ 1,795 a troy ounce.
The DJIA and S&P 500 reached all-time highs before the open, although the US indices fell back, to end the day around their opening levels.
Yields on US Treasuries remained subdued, with the 10-year yield trading at 1.61%.
Australia will release third-quarter inflation data on Wednesday, although expectations point to easing price pressures.
The Bank of Canada will have a monetary policy on Wednesday, and the Bank of Japan and the European Central Bank will announce their decisions on Thursday. The BOC is expected to decline in anticipation of the Federal Reserve.
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