Forex Today; What You Need To Know For November, 4, 2019

November 4, 2019 by  
Filed under Featured, Forex Tips, Trading in the Market

The dollar is under pressure today. The dollar index fell off of Friday’s 3 month high of 97.15. Things looked good Friday after the jobs report showed that things were not shrinking as fast as anticipated. However, later the Institute of Suppy Management reported contraction in the manufacturing sector for the 3rd consecutive month.

The dollar is also underpressure as it and the Australian dollar, Canadian dollar and New Zealand dollar all have room to drop interest rates. The volitility will be minimal in all major currencies due to minimal interest rate differentials. The 4 with room to cut will be the weakest as other major currencies are seen as stable.

The euro was lower as traders wait for the new Ew ECB President Legarde to gove her first speech. She has already stated, as former ECB President Draghi did, a disappointment in Germany and the Neatherlands for not investing their surpluses into growth for the whole Union. This kind of situation will be the downfall of the EU at somepoint. Taking those controls away from memebers is the only way the social engineering crowd will be able to do what they want. Sadly it means the countries in the EU have to give up their sovereignty.

The pound held steady as there is an assumptuon that there will not be a hard Brexit now. The UK central bank hold policy meetings this week, as does the Australian central bank. Both are expected to keep things steady. There is concern that the UK central bankers will want to ease off their tightening stance headed into the election but it is just a concern.

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