Forex Today: Dollar got a respite from risk-aversion

Here is what you need to know Friday, November 1st:

  • Risk aversion took over the financial markets on news that China was said that it doubts it would reach a long-term trade deal with US President  Trump. The dismal sentiment prevailed, despite Trump tried to cool it down by saying the would soon announce where they would sign the first phase of a trade arrangement.
  • Save-haven assets soared, with gold closing the day above 1,510 and USD/JPY around 108.00. The greenback was marginally higher against the EUR, despite European data was generally encouraging.
  • Brexit-UK Elections: he latest polls released Thursday show that Conservatives are getting growing support, with those favouring Tories up to 36.1%. Support for the opposition Labour party, on the other hand, has been decreasing, currently around 25%.
  • Commodity-linked currencies succumbed to risk-off, dragged lower by plummeting equities. Wall Street managed to bounce ahead of the close, trimming part of its intraday losses.
  • Crude oil prices edged lower, finishing October unchanged. WTI settled below $55.00 a barrel.
  • Market’s focus shifts to the US Nonfarm Payroll report.

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