Forex Today: Risk-related sentiment skews to the downside

Valeria Bednarik FXStreet

What you need to know on Tuesday, October 19:

The greenback shed some ground on Monday, although it ended the day mixed across the FX board and within familiar levels. A light macroeconomic calendar keeps investors depending on the sentiment for direction, the latter following US government bond yields. Speaking of which, the yield on the 10-year US Treasury note peaked at 1.627% but finished the day at around 1.58%.

Asian indexes edged lower after softer-than-anticipated Chinese macroeconomic figures. European indexes followed the negative lead, while US traders fought back, with Wall Street ended the day around its opening levels.

The dollar edged lower against most of its major rivals. The EUR/USD pair trades around 1.1610, while GBP/USD stands at 1.3730. The AUD/USD pair and USD/JPY finished the day unchanged while USD/CAD ticked lower, despite weakening crude oil prices.

Crude oil prices hit fresh multi-year highs before retreating. WTI settled at $81.50 a barrel. Gold ended the day with modest losses at around $1,764.60 a troy ounce.

Attention shifts now to the UK inflation data, as the Bank of England has hinted at a possible rate hike as the first move in the case inflation keeps rising above the desired levels.

Cardano price weakens as ADA targets $1.8

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Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

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