FX & CFD trading involves significant risk
Dollar Declines on Speculation Fed to Ease Policy, Before U.S. Home Sales. The dollar weakened against most major counterparts amid speculation the Federal Reserve will introduce more measures to lower borrowing costs to stimulate the economy. The Dollar Index retreated before a private report that economists say will show U.S. sales of existing homes dropped last month. Fed Bank of New York President William C. Dudley said yesterday there’s more the central bank could do to boost the economy.
The euro is poised for its second-straight weekly drop against the yen amid concern European policy makers can’t stop the region’s debt crisis from spreading to larger economies including Spain, Italy and France.
Canada’s dollar depreciated to the lowest level in five weeks as sovereign-debt turmoil in Europe and a decline in stocks and commodities overshadowed foreign investments in Canadian securities. The Canadian currency fell versus the U.S. dollar for a fourth day in the longest stretch of losses in more than a month on demand for a refuge.
EUR/USD: on Asian session the pair gain.
GBP/USD: on Asian session the pair advanced.
USD/JPY: on Asian session the pair fell.
On Friday US events start at 1315GMT, when New York Fed President William Dudley delivers a speech on the economic outlook at policy at SUNY Albany. At 1500GMT, the index of leading indicators is expected to rise 0.6% in October, with positive contributions from a steepening of the yield curve, rising stock prices, lower jobless claims and a longer manufacturing workweek. These should be offset by faster vendor deliveries. Later on, at 1815GMT, Dallas Fed President Richard Fisher delivers a speech on the Fed and the Texas economy to the Texas Teach Alumni Association in Dallas.
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.