Forex Today: German inflation and growth data kickstart busy central bank week


Share:

Here is what you need to know on Monday, October 30:

Financial markets stay relatively calm to start the new week, which will feature key central bank policy meetings and high-tier macroeconomic data releases. In the European session, third-quarter Gross Domestic Product (GDP) and October Consumer Price Index (CPI) data from Germany will be watched closely by market participants. 

The US Dollar (USD) Index moved sideways in a tight range on Friday as the Personal Consumption Expenditures (PCE) Price Index data from the US came largely in line with market expectations but managed to post modest weekly gains. Early Monday, the USD Index holds steady near 106.50 and the benchmark 10-year US Treasury bond yield fluctuates below 4.9%. On Wednesday, the Federal Reserve (Fed) will announce monetary policy decisions. 

US Dollar price today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the New Zealand Dollar.

  USD EUR GBP CAD AUD JPY NZD CHF
USD   -0.03% -0.15% -0.07% -0.32% -0.24% -0.44% 0.03%
EUR 0.04%   -0.11% -0.04% -0.29% -0.21% -0.40% 0.06%
GBP 0.15% 0.10%   0.05% -0.20% -0.11% -0.31% 0.16%
CAD 0.10% 0.04% -0.07%   -0.25% -0.17% -0.37% 0.09%
AUD 0.32% 0.30% 0.19% 0.24%   0.09% -0.12% 0.35%
JPY 0.25% 0.22% 0.19% 0.15% -0.09%   -0.20% 0.29%
NZD 0.45% 0.41% 0.29% 0.37% 0.10% 0.18%   0.44%
CHF -0.03% -0.04% -0.16% -0.08% -0.34% -0.27% -0.46%  

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).

 

Meanwhile, US stock index futures trade modestly higher on the day, pointing to an improvement in risk mood. Over the weekend, Israel's military continued fighting with Hamas in the northern region of Gaza as part of its ground operation. The UN Security Council is expected to hold an emergency meeting on Monday to discuss a pause in the conflict to provide humanitarian aid.

EUR/USD closed the previous week virtually unchanged and went into a consolidation phase at around 1.0550 to start the new week.

After stabilizing above 1.2100, GBP/USD moved sideways on Friday. Early Monday, the pair edged slightly higher but remained below 1.2150.

USD/JPY staged a rebound following the sharp decline on Thursday but lost its bullish momentum before reaching 150.00 on Friday. The pair was last seen moving up and down in a narrow channel near 149.50. In the early trading hours of the Asian session on Tuesday, the Bank of Japan (BoJ) will publish the interest rate decision and the monetary policy statement following the October meeting. The Japanese economic docket will also feature September Retail Trade and Unemployment Rate data.

Supported by the positive shift seen in risk sentiment, AUD/USD and NZD/USD pairs gained traction and were last seen trading at 0.6360 and 0.5835, respectively, both rising about 0.4% on a daily basis. NBS Manufacturing PMI and NBS Non-Manufacturing PMI surveys for October from China will be watched closely early Tuesday.

Gold price surged higher in the late American session on Friday and rose above $2,000 for the first time since May. XAU/USD started the new week with a small bearish gap and corrected lower toward $1,990.

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content

Editors’ Picks

EUR/USD stabilizes above1.0800, looks to post weekly gains

EUR/USD stabilizes above1.0800, looks to post weekly gains

EUR/USD continues to trade in a tight channel above 1.0800 in the second half of the day on Friday, as the improving risk mood makes if difficult for the USD to gather strength. The pair remains on track to snap a five-week losing streak.

EUR/USD News

GBP/USD clings to modest daily gains above 1.2650

GBP/USD clings to modest daily gains above 1.2650

GBP/USD trades in positive territory above 1.2650 in the American session on Friday. The bullish opening in Wall Street doesn't allow the USD to gather strength and helps the pair stay on track to close higher for the fifth consecutive day.

GBP/USD News

Gold holds steady above $2,020 as US yields edge lower

Gold holds steady above $2,020 as US yields edge lower

Gold regained its traction and stabilized above $2,020 after falling below this level during the European trading hours. The benchmark 10-year US Treasury bond yield is down nearly 1% on the day below 4.3%, allowing XAU/USD to keep its footing heading into the weekend.

Gold News

Ethereum price risks decline as increasing exchange supply raises chances of profit taking

Ethereum price risks decline as increasing exchange supply raises chances of profit taking

Ethereum price crossed $3,000 several times this week but the altcoin failed to sustain above this key level, raising concerns regarding its price trend. ETH price faces the risk of decline as the supply of the altcoin on exchanges is on the rise. 

Read more

Up go stocks, down go bonds

Up go stocks, down go bonds

We knew that yesterday was going to be a good day – at least for the stock markets, given that Nvidia defied the expectations that it would - maybe – fail to deliver $20bn sales in the latest quarter. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures