This is what you need to know to trade today tuesday october 25:
Markets remain relatively calm on Tuesday as investors prepare for the week’s key macroeconomic events. The DXY dollar index trades sideways around 112.00, US stock index futures are trading flat and the 10-year US Treasury yield posts modest daily losses near 4.2%. The data for the S&P/Case Shiller home price index. In addition, the Conference Board will publish its Consumer confidence index October.
US S&P Global PMI surveys revealed that business activity in the private sector continued to contract at a fast pace in early October. Despite the disappointing data, Wall Street’s main indices gained between 1% and 1.3% yesterday.
On Monday, Sir Graham Brady, Chairman of the 1922 Committee, announced the election of Rishi Sunak as leader of the Conservative Party and new Prime Minister, following Penny Mordaunt’s decision to leave the contest. Market reaction to this development has been muted as it was widely expected. Meanwhile, the deputy governor of the Bank of England, Dave Ramsden, reiterated that they will take the necessary measures so that inflation returns to its target, while adding that they have to take into account the fall in the value of the pound when deciding monetary policy. The GBP/USD closed slightly lower on Monday and appears to have entered a consolidation phase near 1.1300 early on Tuesday.
After Monday’s volatility, the USD/JPY remained relatively quiet during the Asian session on Tuesday. Citing Bank of Japan (BoJ) Governor Haruhiko Kuroda, a Japanese government official said that the recent “sharp and unilateral weakness of the yen” was not good for the economy. Meanwhile, Japanese Finance Minister Shunichi Suzuki reiterated that he saw no contradiction between the government’s intervention in yen buying and the central bank’s ultra-loose monetary policy. At time of writing, USD/JPY is flat at 149.00.
The EUR/USD staged a late bounce on Monday but lost its upside momentum near 0.9900. The pair is trading in a tight range below that level early on Tuesday. Data from Germany showed that the IFO expectations index rose to 75.6 in October from 75.3 in September, beating the market expectation of 75. However, current assessment IFO rate lowered to 94.1 from 94.5.
The Prayed failed to gain momentum on Monday as the US 10-year yield held above 4.2%. XAU/USD remains lower in the early European session on Tuesday and trades below $1,650.
The Bitcoin lost more than 1%, but ended up closing the day on Monday above $19,000. BTC/USD is now trading sideways near $19,300. The ethereum remains calm slightly above $1,300 on Tuesday after falling 1.5% on Monday.
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
