There was no change in the FX world, which saw the US Dollar gather extra steam for yet another session and clinch fresh tops as investors continued to factor in the “Trump trade”, further easing by the Fed and key upcoming US data releases.
Here is what you need to know on Wednesday, October 23: The US Dollar Index rose further and finally broke below the key 104.00 barrier, reaching new highs despite yields eased marginally. The usual weekly Mortgage Applications tracked by MBA are due seconded by Existing Home Sales, and the EIA’s weekly report on US crude oil inventories. In addition, the Fed’s Bowman and Barkin are due to speak. EUR/USD maintained its bearish tone unchanged and dropped to new lows around 1.0800.
00 hurdle following the extra improvement in the US Dollar. Next on the Japanese calendar will be the weekly Foreign Bond Investment figures along with the preliminary Jibun Bank Manufacturing and Services Index on October 24. AUD/USD managed to regain balance and bounced off the 0.6650 zone to retest the area close to the key 0.6700 barrier. The flash Judo Bank Manufacturing and Services PMIs will come next on the Australian docket on October 24.
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