25.10.2019: USD steady amid lack of fresh drivers (USD, JPY, AUD, USDX)

25.10.2019: USD steady amid lack of fresh drivers (USD, JPY, AUD, USDX)


Today’s economic calendar lacks any key events or reports. That is why traders are focusing their full attention on the news about US-China trade talks and Brexit. At the same time, the US dollar continues to rise amid market fears of a global slowdown in economic growth. The US dollar index, which measures the greenback against a basket of six other major currencies, was holding near the level of 97.70 in the Asian session. In the stock market, more optimistic sentiment prevails. First of all, traders welcomed strong earnings reports and positive forecasts of tech companies that eased investors’ concerns about the trade war. The dollar/yen pair shows no significant changes amid the lack of fresh market drivers. It is trading sideways between 108.60 and 108.70. The Australian currency was trying to inch up but lost momentum near the level of 0.6830. During the Asian session, it fell to 0.6810, trading sideways. For now, traders are unwilling to buy the Aussie ahead of the RBA next meeting. The regulator is expected to cut again its interest rate. Most analysts are betting on the resumption of a steady downtrend for the AUD/USD pair. In the European session, no significant reports will be released. However, the eurozone will unveil data on the GfK consumer confidence and Germany’s IFO Business Climate indexes. In the New York session, the University of Michigan Consumer Sentiment Index will be published. That’s all for now! We keep close tabs on market development. Subscribe to our channel and stay tuned. See you soon!

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