US dollar reaches multiple significant levels against the majority of the G10 currencies.
US Dollar (USD) is widely consolidating on Tuesday after reaching a 10-week high on Monday, fueled by investor concerns that the Federal Reserve may not lower interest rates as swiftly and forcefully as originally anticipated. Furthermore, markets appear to be betting on former President Donald Trump’s likely victory in the November 5 presidential election, after multiple betting services and polls showed the Republican nominee taking the lead.
The US economic calendar is again quite It was light on Tuesday. Aside from the NY Empire State Manufacturing Index for October, there isn’t much to excite markets. Rather, expect some move from the three Fed officials who slated to speak.
Daily market movers: Fed speakers have their work cut out.
US Dollar (USD) is widely consolidating on Tuesday after reaching a 10-week high on Monday, fueled by investor concerns that the Federal Reserve may not lower interest rates as swiftly and forcefully as originally anticipated.
The NY Empire State Manufacturing Index for October scheduled for release at 12:30 GMT. Economists predict it will decline to 2.3 from 11.5 earlier.
At 15:30 GMT, Federal Reserve Bank of San Francisco President Mary Daly makes keynote comments and takes part in a moderated discussion and audience Q&A at an event organized by NYU Stern School of Business.
Around 17:00 GMT, Federal Reserve Governor Adriana Kugler takes part in a webcast about employment possibilities and diversity in Economics.
President Raphael Bostic of the Federal Reserve Bank of Atlanta will conclude this trading day with remarks while participating in a moderated chat at the Gathering Spot about how the economy affects small companies around 23:00 GMT.
Equities are all over the place, with Chinese markets closing sharply lower while Japan was up for the day. European equities appear slow, while US futures remain somewhat flat.
The CME Fed rate expectation for the November 7 meeting suggests an 86.8% chance of a 25 basis point rate drop, with the remaining 13.2% assuming no rate cut. Chances of a 50 basis point rate drop have been totally priced out.
The US 10-year benchmark rate is trading at 4.07%, somewhat lower than the On Thursday, the highest level since last week was 4.11%.
