Here’s what you need to know to trade today Thursday October 19:
Supported by rising US Treasury yields and safe-haven monetary flows, the US Dollar outperformed its rivals on Wednesday, with the DXY Dollar Index closing in positive territory. While the 10-year US bond yield continues to rise towards 5%, the dollar remains firm in the early hours of Thursday. Later, the chairman of the Federal Reserve (Fed), Jerome Powellwill speak before the Economic Club of New York, and the US economic agenda will publish weekly data on initial jobless claims along with existing home sales for September.
Wall Street’s major indexes suffered big losses on Wednesday as investors reacted to mixed third-quarter corporate earnings results and escalating geopolitical tensions. In the morning in Europe, US stock index futures are trading slightly lower, reflecting the markets’ caution: “The short-term outlook for the economy was generally described as stable or with slightly weaker growth,” as the Fed’s Beige Book showed late on Wednesday.
Dollar Quote this week
The following table shows the percentage change of the United States Dollar (USD) against the main currencies this week.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | -0.26% | 0.10% | 0.53% | 0.01% | 0.13% | 1.31% | -0.47% | |
| EUR | 0.22% | 0.36% | 0.76% | 0.27% | 0.36% | 1.58% | -0.22% | |
| GBP | -0.14% | -0.39% | 0.39% | -0.12% | 0.00% | 1.18% | -0.61% | |
| CAD | -0.56% | -0.82% | -0.43% | -0.54% | -0.42% | 0.76% | -1.03% | |
| AUD | -0.01% | -0.28% | 0.07% | 0.50% | 0.09% | 1.31% | -0.51% | |
| JPY | -0.13% | -0.33% | 0.00% | 0.39% | -0.11% | 1.17% | -0.58% | |
| NZD | -1.38% | -1.63% | -1.27% | -0.84% | -1.36% | -1.24% | -1.89% | |
| CHF | 0.44% | 0.24% | 0.58% | 0.99% | 0.51% | 0.60% | 1.80% |
The heat map shows the percentage changes of the major currencies against each other. The base currency is chosen in the left column, while the quote currency is chosen in the top row. For example, if you choose the euro in the left column and scroll down the horizontal line to the Japanese yen, the percentage change that appears in the box will represent EUR (base)/JPY (quote).
According to the latest news, Israeli airstrikes continued overnight and the Israel Defense Forces noted that there has been a “significant escalation“of the conflict with Hezbollah.
After approaching 1.0600 on Wednesday, the pair EUR/USD It reversed its trend and closed in negative territory. Early on Thursday, the pair consolidates its losses in a narrow range slightly below 1.0550.
Following the bullish action seen in the European session thanks to Wednesday’s UK Consumer Price Index (CPI) data, the GBP/USD was subjected to bearish pressure during the American session. The pair remains lower in the European morning on Thursday and trades below 1.2150.
“It is normal not to announce currency intervention immediately after it is done. Basically, we will not comment when we intervene in the foreign exchange market“Masato Kanda, Japan’s top currency diplomat, said Thursday when asked about the covert intervention. The pair USD/JPY It showed no immediate reaction to these comments and is now moving sideways above 149.50.
The price of Gold benefited from safe haven demand and on Wednesday hit its highest level since late July, above $1,960. However, rising US yields caused XAU/USD to erase some of its daily gains in the American session. As of early Thursday, the pair remains stable around $1,950.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
