What you need to know on Wednesday, October 27:

The American dollar ended the day mixed, particularly stronger against its European rivals. The EUR/USD pair is down to the lower end of its weekly range, trading in the 1.1590 price zone, while GBP/USD settled around 1.3760, getting additional pressure from European Commissioner for the Internal Market Thierry Breton, who said on Tuesday that Brexit has resulted in an "economic catastrophe" for the UK.

US CB Consumer Confidence unexpectedly bounced in October, printing at 113.8 from an upwardly revised 109.8. According to the official report, “the proportion of consumers planning to purchase homes, automobiles, and major appliances all increased in October—a sign that consumer spending will continue to support economic growth through the final months of 2021.”

Crude oil prices started the day on the back foot but managed to end the day with gains. WTI settled t $84.60 a barrel. On the other hand, gold edged lower and settled around $1,795 a troy ounce.

 The DJIA and the S&P 500 reached all-time highs ahead of the opening, although US indexes retreated, to end the day mixed around their opening levels.

US Treasury yields remained subdued, with the benchmark on the 10-year note down to 1.61%.

Australia will publish Q3 inflation data on Wednesday, although expectations point to easing price pressures.

The Bank of Canada is having a monetary policy on Wednesday, with the Bank of Japan and the European Central Bank set to announce their decisions on Thursday. The BOC is expected to taper anticipating the Federal Reserve.

Top 3 Price Prediction Bitcoin, Ethereum, XRP: Small correction ahead of cryptos before next leg up

 


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