The US dollar is moderately declining against most major currencies after the publication of US CPI data. In October, the indicator rose to 2.5% YoY from 2.3% YoY a month earlier and rose to 0.3% MoM from 0.1% MoM last month. October Core Consumer Price Index dropped to 2.1% YoY from 2.2% YoY a month earlier and rose to 0.2% MoM from 0.1% MoM in the previous month.
As for macroeconomic events, which can affect USD, today, it is worth noting Retail Sales and Initial Jobless Claims releases at 15:30 (GMT+2) and the Fed’s Chairman Jerome Powell speech at 20:00 (GMT+2).
The EUR/USD pair rose to the level of 1.1332. The euro is supported by news that the British Prime Minister Theresa May after yesterday’s five-hour meeting, met an agreement with the government on a draft project of the exit from the EU. It provides the extension of the transition period after Brexit if the decision on the border of Ireland is not made until July 1, 2020. According to the document, citizens of the UK and the EU will maintain a visa-free regime and mutual access to markets. After the draft is adopted at the government level, the parliament will have to vote for it.
Today, statistics on the Eurozone Trade Balance at 12:00 (GMT+2) can affect the instrument.
The GBP/USD pair climbed to the area of 1.3031, supported by the positive Brexit news. The UK government has met an agreement on a project for the country's withdrawal from the EU. Theresa May believes that this agreement is "the best that could be reached." The British Prime Minister will present her position in detail during today's speech in Parliament, which she will try to convince to vote for the adoption of the draft.
During the Asian session, the USD/JPY pair fell to the level of 113.45 due to the general weakening of the US currency. As there is a lack of key macroeconomic releases in Japan today, the movement of the instrument will be influenced by statistics from the United States.
The AUD/USD pair rose to the area of 0.7278, supported by positive statistics on the labor market in Australia. In October, the employment rate increased to 32.8K from 7.8K a month earlier. The unemployment rate remained unchanged at 5.0%, while the growth to 5.1% was expected.
The gold price rose to the area of 1211.00 due to the general weakening of the American currency.
The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.