248
Trader, analyst and instructor with a 6-year experience

Nov. 5: MARKET OVERVIEW

US dollar rose on Wednesday after a sweeping victory by Republicans in the United States’ mid-term elections raised hopes for an end in political gridlock in Washington, boosting risk sentiment. Watch the releases of ADP Non-Farm Employment Change (13:15 GMT) and ISM Non-Manufacturing PMI (15:00 GMT).

EUR/USD met resistance at 1.2570 on Wednesday. Euro zone will release Services PMI indices at 8:15 – 9:00 GMT and retail sales data at 10:00 GMT. ECB meets on Thursday.

GBP/USD tested the lower edge of its recent range in the 1.5950 area. On Tuesday construction PMI came lower than expected. Today Britain will release services PMI at 09:30 GMT.

USD/JPY has almost reached 114.50. The Bank of Japan Governor Kuroda promised to “drastically convert the deflationary mindset” with monetary easing “that is totally different from past policies.” Kuroda mentioned that the BOJ doesn’t see any limits to future policy options, including Japanese Government Bonds (JGB) purchases.

AUD/USD back below 0.8700.

Scroll to top