The changes among the day remain light, with dollar pairs all holding within 10 pips change currently. It’s just one of those days where even if there are any moves, one shouldn’t look too much into it. At this point, it’s all about the Fed tomorrow.
USD/JPY was a bit more volatile in Asia, trading up to 141.25 but is now flat at 140.60. Meanwhile, EUR/USD saw a light extension of its range earlier to 1.1146 but is now flat again around 1.1135. So, there’s not really a whole lot to talk about in terms of the movement today.
In the equities space though, US futures are pushing higher with tech shares seen rebounding. S&P 500 futures are up 0.4% with Nasdaq futures up 0.6% currently. In the bond market, 2-year yields remain on edge at 3.556% and 10-year yields down marginally on the day at 3.614%.
As for Fed pricing, traders are still seeing ~67% odds of a 50 bps rate cut currently.
This article was written by Justin Low at www.forexlive.com.
Related Articles
ECB’s Lane: Monetary policy should not remain restrictive for too long
Barring new geopolitical or political risks, a large part of the final...
Reminder: It will be a holiday-shortened week in the US
And typically, that means broader markets will likely observe a more quiet...
Dollar down as Trump picks Scott Bessent for role of Treasury secretary
The initial reaction seems to be that billionaire Scott Bessent is a...
FX option expiries for 25 November 10am New York cut
There are just a couple to take note of, as highlighted in...
Leave a comment