Here is what you need to know Tuesday, October 29th:
Trading kick-started in slow-motion, with major pairs confined to tight intraday days during the first half of the day. The perception of risk improved during US trading hours, keeping the USD under selling pressure.
US President Trump said that they are “ahead of schedule” with finalizing phase one of the trade agreement with China, further fueling the positive sentiment. US Treasury yields advanced, with the benchmark yield on the 10-year Treasury note reaching 1.86%.
UK PM Johnson put before the Parliament his motion to hold a general election next September 12, which was rejected, as expected. Johnson then announced that he would try to bypass the majority rule by introducing a new one-line piece of legislation that would effectively override the current election law. Fears about a hard-Brexit receded.
Wall Street flirted with record highs, trimming part of its intraday gains ahead of the close. The yen and the gold edged sharply lower.
Cryptocurrencies consolidated weekend gains, speculative interest digesting Chinese regulation’s news.
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