Forex Today; What You Need To Know For November 5, 2019

November 5, 2019 by  
Filed under Forex Tips

The UK service sector index went up .05 in October. Basically flat. This is the worst reading since 2009. New business fell fornthe 2nd month in a row. People and business in the UK are concerned about spending cash until Brexit is complete. This is a sign that there will be a recession before Brexit takes place.

The Bank of England is expected to keep rates the same. There has been talk of the Bank would be less willing in the future to ease. This would be foolish based on the reports we have seen about the UK and EU economies.

The dollar has held its own with new reports on US/China trafe that are very positive. The dollar was up against the safe-haven yen further strengthening the dollars position. At the same time the Yuan was up against the dollar, dipping below 7.

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!