For almost a week, the market was in a low-volatility expectation of the possible outcome of the US-China deal, which should have been the main topic of the speeches by the Fed and US leader Donald Trump, but there was no concrete information. The market reacted as expected, by lowering the USD Index below 98 points.
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Yesterday, the NZD/USD pair moved horizontally in response to the rather meager macroeconomic background of the beginning of the week. The instrument was slightly supported by the published New Zealand Services Activity Index from Business NZ. In October, the indicator rose from 54.5 to 55.4 points, which was better than the average market expectations.
Silver prices showed flat dynamics by the end of Monday, despite a steady decline at the opening of trading.
Yesterday, the USD/CHF pair rose slightly, although during the day the dollar renewed local lows of November 4.
Last week, the NZD/USD pair strengthened significantly after the RBNZ decision on the monetary policy.
Over the past week, the British currency has shown rapid upward momentum against the US dollar. Today in the morning, the pair reached a key resistance level and the upper border of the downward channel at 1.2930.
USD declined against CAD on Friday, retreating from local highs, updated the day before. The development of negative dynamics was facilitated by not the strongest macroeconomic publications from the USA, which did not conform to market expectations.
The published reports on the economic growth of the leading countries of the EU exceeded analysts' expectations: the indicator in Germany reached +0.1%, in Spain +2%, and in France +0.5%. The total figure was +1.2% compared with the expected level of 1.1%. In addition, the growth in the number of employed was also indicated, the number of which increased by 1%.
AUD showed strong growth against USD on Friday, which allowed the instrument to partially recoup its losses after a sharp decline the day before. The appearance of correctional dynamics was largely due to technical factors, as well as the publication of weak macroeconomic statistics from the United States.
USD showed corrective growth against JPY on Friday, retreating from local lows of November 4. Positive dynamics was facilitated by strong macroeconomic statistics from Japan and weak data from the USA.