This is what you need to know to trade today Monday, October 25:
The dollar struggles to find demand early in the week amid mixed market mood, but overall trading action remains relatively subdued as investors await this week’s high-impact macro data releases and events. . Germany’s IFO index of business climate, current valuation and expectations will be released this Monday ahead of the Chicago Fed National Activity Index and the Dallas Fed Manufacturing Survey.
Risk appetite mood: China’s SSE Composite Index is up 0.45%, but the Nikkei 225 Index is down 0.65%. US stock index futures are flat and major European stock indices are still on track to open near Friday’s closing levels. Meanwhile, the 10-year US Treasury yield, which fell 4% on Friday, is clinging to modest daily gains close to 1.65%.
In an interview with CNN on Sunday, the Speaker of the United States House of Representatives, Nancy Pelosi, said that Democrats have almost reached an agreement on an expanded version of the bill of US President Joe Biden’s expenses. Pelosi added that she hopes to vote for him later in the week.
The EUR/USD it remains afloat in the upper half of last week’s trading range around 1.1650, supported by modest USD weakness. The pair might need a fundamental catalyst to break out of this range.
The oro It rose above $ 1,800 on Friday, but wiped out a large chunk of its gains before closing just above $ 1,790. Currently, XAU / USD is close to $ 1,800 and could pick up bullish momentum should US bond yields start to push lower.
EU and UK to continue talks on trade rules post-Brexit for Northern Ireland on Tuesday in London. The role of the European Court of Justice in upholding and enforcing these rules remains the biggest turning point. The GBP/USD, which closed the last two days of the previous week modestly lower, is now climbing towards 1.3800.
USD/JPY broke a four-week winning streak and appears to have entered a consolidation phase around the 113.50 zone on Monday. Data from Japan showed that the leading economic index declined to 101.3 in August from 104.1 in July, but this reading was largely ignored by market participants.
Cryptocurrencies: After Wednesday’s record rally, Bitcoin extended its correction over the weekend and briefly declined below $ 60,000 before regaining its traction. Currently, BTC is up almost 2% daily to $ 62,000. The Ethereum it keeps fluctuating above $ 4,000.
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