The euro (EUR) is strengthening against most of its major counterparts, ahead of the European Central Bank (ECB) President meeting with the German lawmakers. Draghi is scheduled to have a closed-door meeting at the Deutsche Bundestag with the German lawmakers specifically regarding the OMT at 11:45 GMT, followed by a press conference at 14:00 GMT. Later today, the Federal Reserve will release its FOMC statement and fund rate decision at 18:15.
§ The Canadian dollar (CAD) reacted well to the decision by Bank of Canada (BoC) to leave its lending rate unchanged at 1.00%. Against the US dollar (USD), the loonie rose to 0.9975 but dived to 0.9900 following the BoC announcement. The BoC's monetary policy report due today at 14:30 GMT and BoC Governor Carney's press conference at 15:15 GMT will offer deeper insights into the decision.
§ OIL plunged from 88.56 to as low as 85.73 – a 3-month record, but managed to bounce back and close the day at 86.35 dollars barrel.
§ The British pound (GBP) produced a monthly low at 1.5912 versus the US dollar (USD) and the pair appears to be in a short-term downtrend.Stay in tune throughout the day with foreign exchange bullets!
|.||EURUSD||1.3010||SHORT @ 1.3010||44% of deals buy EUR|
|.||USDJPY||79.65||LONG @ 79.65||59% of deals buy USD|
|.||GBPUSD||1.5990||SHORT @ 1.5990||48% of deals buy GBP|
|.||AUDUSD||1.0270||LONG @ 1.0270||59% of deals buy AUD|
|.||GOLD||1714||SHORT @ 1714||71% of deals buy GOLD|
|.||OIL||88.25||SHORT @ 88.25||85% of deals buy OIL|
|.||EUR||08:00||German IFO Business Climate in October||101.5|
|.||USD||14:00||New Home Sales in September||0.385 mil|
|.||OIL||14:30||Crude Oil Inventories||2 mil|
The US dollar (USD) recorded a monthly high at 3.1939 versus the Polish zloty (PLN) yesterday but did not manage to hold onto it. The pair retraced back to 3.1770 where a short-term support level appears to have been formed. A rebound off this level is very likely, but a break below it could pave the way for lower lows.
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