Dollar outshines the Rivals on EU & Brexit Political Turmoil

Daily Update - 25th October 2018

Yesterday’s Market

• EUR Markit Manufacturing and PMI
• US PMI and Composite
• BoC monetary policy meeting and interest rate decision

Yesterday’s Explained

Euro Reports on Markit Manufacturing & PMI resulted negative and bolstered the Common Currency Euro weaker against the Dollar yesterday. By Mid-Day US PMI & Composite figures were released which boosted the Currency against all Rivals & Major Political News pushed the Euro & GBP against the Dollar off the edge. To conclude the busy day Bank of Canada Monetary Policy Meeting & Interest Rate Decision were released with no Significant improvement on their Economic Data & Interest Rate Decision remained the same.

 

Today’s Market

• ECB interest rate decision and monetary policy statement
• US durable goods and pending home sales

Today’s Focus

Thursday will be a major highlight of the week and investors will look forward for Thursday, Eurozone will release its Interest Rate Decision and Monetary Policy Statements during the morning session and this will be a key indicator of the ECB’s Quantitative Easing program of ECB and Draghi’s Outlook towards this Quarter for their Interest Rate Decisions.

Finally, Durable Goods & Pending Home Sales will be released by end of the day which will give us an indication on their current Manufacturing Sector & Pending Home Sales growth.