This is what you need to know to trade today Thursday October 14:
Fluctuations in U.S. Treasury yields continue to drive the dollar’s valuation and the overall market mood remains cautiously upbeat on Thursday. The greenback is consolidating Wednesday’s losses as the focus shifts to US mid-level data releases: weekly jobless claims and September’s producer price index.
The US dollar DXY index suffered its biggest one-day loss since May on Wednesday, falling 0.54% as yields on US 10-year Treasuries fell nearly 3% for the second day in a row. However, the 10-year yield appears to have found an anchor above the critical 1.5% level, supporting the dollar at the start of the European session on Thursday.
Macro data: The US Bureau of Labor Statistics reported Wednesday that the Consumer Price Index (CPI) rose to 5.4% annually in September from 5.3% in August. In the euro area, industrial production contracted by 1.6%, as expected, and Germany’s annual CPI remained stable at 4.1%.
The unemployment rate in Australia rose to 4.6% in September, but this reading was better than the market expectation of 4.8%. The Chinese CPI rose to 10.7% in September from 9.5% in August.
Wall Street: The S&P 500 Index gained 0.3% and the Dow Jones Industrial Average closed near its opening levels as investors shift their focus to earnings reports. Citigroup and Wells Fargo are among the big names that will release third-quarter earnings ahead of the opening bell on Thursday. US stock index futures are rising in the first half of the day.
Oro: XAU / USD capitalized on falling US yields and advanced to their highest level in nearly a month at $ 1,796 before entering a consolidation phase on Thursday.
The EUR/USD it climbed decisively and erased all October losses to turn positive for the month. Currently, the pair is moving sideways near 1.1600. However, it is worth noting that the EUR / USD was supported by the general weakness of the dollar rather than the strength of the euro.
GBP/USD it continues to push higher towards 1.3700 as the UK evaluates the EU proposal on the Northern Ireland Protocol.
USD/JPY It managed to hold near the multi-year highs it set earlier in the week despite falling US bond yields and fluctuates in a narrow channel around 113.50.
cryptocurrencies: After a short-lived correction phase, Bitcoin regained its traction and rose above $ 58,000 for the first time since early May. Ethereum is holding on to small daily gains around $ 3,600 as Ripple is struggling to find direction.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
