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Dollar Index Approaches Two-Year High

By 01/10/2019 No Comments
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Germany and the United Kingdom published positive macroeconomic indicators yesterday, which was not enough for the euro and pound to grow. Also, on Monday, the White House announced that shares of Chinese companies would not be excluded from US trading exchanges. Representatives of the United States and China will meet next week, and traders are waiting for a solution to the trade and economic confrontation.

Forex calendar
Forex calendar Oct 1
 
From today until the end of the week, China’s National Day is celebrated, because local exchanges will not work.

At 10:55 (GMT+3), the index of business activity in the manufacturing sector (PMI) of Germany for September will be released. A figure above 41.4 will be positive for the euro (EUR).

At 11:30 (GMT+3) in the UK will be released the index of business activity in the manufacturing sector for September. Analysts suggest that the figure will be 47%.

At 12:00 (GMT+3), the consumer price index in the eurozone for September in the annual perspective will be published. The indicator is expected to remain unchanged: 1%.

At 15:30 (GMT+3) Canada will publish GDP on a monthly perspective.

At 17:00 (GMT+3) in the US will be released the index of business activity in the manufacturing sector (PMI) for September. The expected figure is 50.4.

Commodity Markets
Gold. Gold has lost ground due to the lull in the Middle East and signs of progress in the trade war. Wall Street analysts believe the defensive asset could fall to $1,450. On Tuesday, October 1, gold futures cost $1,462 per troy ounce.

Oil. The raw material resource fell on Monday to the lowest quarterly level this year. On the morning of October 1, the oil began to recover. Brent futures are trading at $59.4 per barrel, and WTI crude oil is $54.2.
  
Forex
The dollar index (DXY) moves to a maximum of two years. DXY has already broken 99.5 against a basket of major currencies.

Pound falls by -0.04% on Tuesday. On the morning of October 1, the GBP/USD pair is trading around 1.2283.

On Monday, the euro fell to 1.0885, the lowest level in two years. On Tuesday, the EUR/USD pair is trading around 1.0890.

On October 1, the dollar is strengthening against the yen by 0.1%. On Tuesday morning, the pair USD/JPY is trading near the level of 108.2.

Daily Trading Signals
Trading signals oct 1 fx Trading signals oct 1 commod
Important: this review does not contain trading recommendations and calls for transactions, all the opinions expressed are the personal opinion of the author. Traders are solely responsible for decisions made.