Here’s what you need to know to trade today Monday, November 6:
The financial markets start the new week calmly. After falling more than 1% in the previous week, the US Dollar Index DXY has stabilized near 105.00 early on Monday and the benchmark 10-year US Treasury yield has recovered towards 4.6%. Data from Sentix Investor Confidence for November. In the United States, top-level data will not be published.
As reported on Friday by the United States Bureau of Labor Statistics (BLS), nonfarm payrolls increased by 150,000 in October. This figure was below market expectations, which expected 180,000, and pointed to a relaxation of the labor market. Consequently, the Dollar continued to weaken against its main rivals heading into the weekend and risk-on monetary flows dominated action in financial markets ahead of growing expectations that the Federal Reserve will keep its monetary policy rate changes in December. Early on Monday, US stock index futures are trading slightly higher.
Meanwhile, the Israel Defense Forces stated over the weekend that Operations against “Hamas leadership and infrastructure in northern Gaza” will continue.
Quote of the US dollar today
The following table shows the percentage change of the United States Dollar (USD) against the main currencies.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | -0.08% | -0.12% | -0.07% | 0.09% | 0.07% | 0.02% | -0.25% | |
| EUR | 0.06% | -0.04% | 0.00% | 0.16% | 0.13% | 0.09% | -0.18% | |
| GBP | 0.12% | 0.04% | 0.05% | 0.20% | 0.19% | 0.13% | -0.14% | |
| CAD | 0.07% | -0.01% | -0.05% | 0.15% | 0.13% | 0.07% | -0.19% | |
| AUD | -0.10% | -0.17% | -0.22% | -0.17% | -0.03% | -0.08% | -0.34% | |
| JPY | -0.08% | -0.15% | -0.41% | -0.12% | 0.00% | -0.04% | -0.33% | |
| NZD | -0.02% | -0.09% | -0.13% | -0.07% | 0.08% | 0.06% | -0.27% | |
| CHF | 0.23% | 0.17% | 0.13% | 0.18% | 0.34% | 0.32% | 0.27% |
The heat map shows the percentage changes of the major currencies against each other. The base currency is chosen in the left column, while the quote currency is chosen in the top row. For example, if you choose the euro in the left column and scroll down the horizontal line to the Japanese yen, the percentage change that appears in the box will represent EUR (base)/JPY (quote).
He EUR/USD gained bullish momentum and reached its highest level in almost two months on Friday, above 1.0700. The pair appears to have entered a consolidation phase slightly below 1.0750 early on Monday. Data from Germany has shown that factory orders rose 0.2% month-on-month in Septemberbetter than the market forecast of a 1% decline.
He GBP/USD It gained almost 200 pips on Friday and continues to rise towards 1.2400 on Monday.
The governor of the Bank of Japan, Kazuo Ueda stated on Monday that they need to have more conviction that salaries will continue to rise. “We need to be more convinced that wages will continue to rise, that the increase in wages translates into prices in the service sector and that the economy remains strong, to weigh the exit from the flexible policy,” Ueda explained. He USD/JPY There was no immediate reaction to these comments and the pair is now moving sideways around 149.50.
During the Asian session on Tuesday, the Reserve Bank of Australia (RBA) will announce its monetary policy decision. Additionally, market participants will closely monitor China’s October trade balance data. Pending these events, the AUD/USD remains relatively calm around 0.6500.
Improving risk sentiment made it difficult for XAU/USD to benefit from falling US bond yields and broad-based dollar weakness on Friday. The price of Gold It has started the new week on the defensive and is falling back towards $1,980.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
