Here is what you need to know Tuesday, November 5th:
- The greenback remained under selling pressure throughout the first half of the day but ended found demand on US trading hours, as Wall Street soared to all-time highs, boosting demand for the American currency.
- The EUR/USD pair eased within range on a resurgent dollar. Mrs Christine Lagarde participated in a public event, the first as head of the ECB, but she didn’t comment on monetary policy. Final EU Markit Manufacturing PMI were revised higher but stood barely above multi-year lows in October.
- Confidence prevailed that the US and China will be able to sign an agreement this month that would be the beginning of the end of the trade war. Also, US Commerce Secretary Wilbur Ross said that he hopes enough progress has been made in trade negotiations with the Union to avoid tariffs on EU imported vehicles. The headlines were risk-on supportive.
- The USD/JPY surged amid a better perception of risk, holding at around 108.60 early in the Asians session.
- Cryptocurrencies woke up at the end of the day, with BTC/USD up to $9,500.00
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