In Europe and the United States, the second wave of coronavirus caused a re-imposition of social restrictions to stop the spread of the virus. This fact will most likely force the markets to ignore any good news about the growth of the Eurozone economy that may come out in the near future.
ECB President Christine Lagarde has announced during a group discussion with Fed Chairman Jerome Powell and Bank of England Governor Andrew Bailey that she does not want to exaggerate the positive from the imminent vaccination because there are still many uncertainties. We recommend trading currency pairs with EUR very carefully and fixing your profits at the nearest levels.
The US October inflation data were published yesterday. The data turned out to be below expectations. Wells Fargo analysts note that consumer prices rose by 1.2% compared to the last year, which is the slowest rate since July. They expect only moderate price pressures as the economy continues to recover. Analysts argue that overall inflation is still moderate as prices continue to decline due to the effects of the pandemic. It is noted that inflation will rise higher but will remain below its pre-pandemic trend for quite some time.
Oil prices are falling during Friday’s trades amid continuing concerns about weak global demand due to the new wave of coronavirus in the US, Europe and Asia. At the moment, the WTI oil price is $40.5.
Yesterday, the US stock market closed with a strong fall amid an increased number of Covid diseases. The Dow Jones Index fell by 1.08% to 29,080.17 points, the S&P 500 – by 1% to 3537.01, and the Nasdaq Composite – by 0.65% to 11709.59.
The 10 year US government bonds yield is at 0.88%
- - Eurozone GDP at 12:00 (GMT+2)
- - US producer price index at (GMT+2)
- - Speech by the Bank of England Governor (GMT+2)
by 2020.11.13, We advise you to get acquainted with the daily forecasts for the major currency pairs.
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.Open Account