This is what you need to know to trade today Wednesday, October 13:
Major currency pairs remained within familiar ranges on Tuesday as investors remained on the sidelines awaiting high-impact data releases. Cold market sentiment made it difficult for risk-sensitive assets to find demand, but falling US Treasury yields weighed on the dollar. The US dollar index is posting modest daily losses around 94.35 right now and the yield on US 10-year bonds, which lost 3.5% on Tuesday, is down to 1.58%.
Macro data: Data from the United States showed that the NFIB Business Optimism Index fell to 99.1 from 100.1 in August and job vacancies and job turnover declined to 10.3 million in August, below the market expectation of 10.9 million. The US Bureau of Labor Statistics will release the Consumer Price Index (CPI) for September today at 12.30 GMT and the Federal Reserve will release the minutes of its September monetary policy meeting at 18.00 GMT.
US Consumer Price Index Preview: Average inflation, what average inflation?
Wall Street: Pressed by a more than 1% drop seen in the Communication Services Index, the S&P 500 lost 0.24% on Tuesday and the Nasdaq Composite fell 0.15%. Additionally, the Dow Jones industrial average was down 0.35%. Meanwhile, the US House of Representatives passed legislation to temporarily raise the debt ceiling until early December, but this development does not appear to be having a noticeable impact on market sentiment.
FOMC Minutes Preview: Fed will reiterate stimulus reduction message, sending dollar higher and stocks lower
The pair EUR/USD It plunged to its weakest level since July 2020 at 1.1524 as dovish comments from policy makers at the European Central Bank (ECB) continue to hurt the common currency. Currently, the pair is posting modest recovery gains around 1.1550.
GBP/USD It fluctuates around 1.3600 for the third day in a row on Wednesday. UK data revealed that industrial production and manufacturing output expanded at a stronger rate than expected in August, but market participants showed little or no interest in this data.
USD/JPY It lost its bullish momentum on falling US Treasury yields, but remains a slim distance from the 34-month high it set at 113.80 on Tuesday.
The crude oil prices they remain in a consolidation phase after the impressive rebound observed earlier in the week. A barrel of West Texas Intermediate remains relatively quiet above $ 80 ahead of the release of the weekly change in EIA crude reserves on Thursday.
The oro managed to close in positive territory on Tuesday and remains above $ 1,760 at the start of the European session on Wednesday. However, XAU / USD may need to break out of the $ 1,750-70 range to attract investors.
cryptocurrencies: Bitcoin extended its technical correction and lost more than 2% on Tuesday. Currently, BTC is testing $ 55,500. In the meantime, Ethereum and Ripple They operate in negative territory. In its recently released Global Financial Stability report, the International Monetary Fund advised against developing economies adopting digital currencies
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