Forex Today: Sentiment sours, dollar recovers – by ValBednarik EURUSD XAUUSD CryptoCurrencies Inflation Ukraine
It was another volatile day in the FX sphere, with optimism and fears mixing throughout the day. The American Dollar plummeted to fresh monthly lows against most major rivals ahead of Wall Street’s opening but posted a nice comeback ahead of the close.. According to official sources, Industrial Production grew by 5% YoY in October, missing the market expectation for an expansion of 5.2%.
The EURUSD peaked at 1.0480, then fell to 1.0292. It currently trades at around 1.0320. GBPUSD hovers around 1.1830 after surging to 1.2028. UK-employment-related data was generally disappointing. Therose to 3.6% in September, while wage inflation rose in October. The country will publish the October Consumer Price Index on Wednesday.
Commodity-linked currencies ended the day with modest gains vs their American rival, with AUDUSD trading at around 0.6750 and USDCAD surrounding 1.3300. Save-have currencies remained under pressure, with USDCHF now trading at 0.9450 and USDJPY at 139.40. Gold extended its monthly rally but ended Tuesday with modest gains at around $1,776 a troy ounce. CrudeFormer US President Donald Trump
said he would do an announcement at his house at Mar-a-Lago tonight. Market players anticipate he will announce he will run for President again in 2024.
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