The start of the week has been stable and is not promising any major changes so far. The best dollar rate lost 1.0% over the course of the last week, with the US dollar index ending up at around 105. The changes in 10-year US Treasury yields, which went towards 4.6%. Yields are now lower than they were not too long ago, having reached record heights and worrying markets.
There does not seem to be any new data coming soon for US markets. However, we did see the release of non-farm payroll data, which had reached 150,000 this October, as we saw on Friday. Previously, markets expected around 170,000, according to the Dow Jones, so the real figure gave investors relief in foreign markets. The best US dollar rate struggled at this point against many major international currencies but seems to have recovered as the weekend ended.
We can illustrate the change by comparing the US currency against several foreign currencies. The EUR/USD currency pair managed to reach its highest point in 2 months, ending at around 1.07 this Friday. This then ended up around 1.075 as of this Monday.
Meanwhile, the GBP/USD pair also increased, so traders can buy dollars at 1.24 after the value climbed up by 0.2% on Friday and then pushed up slightly further today.
The USD/JPY pair has been stable, trading around 149.5 and not shifting from this position.
Finally, the AUD/USD also changed a little, staying around 0.65. The best dollar rate, when compared to other major foreign currencies, is possibly against the Aussie. Traders are still waiting on RBA decisions about monetary policy coming this Tuesday. This should inform traders further on how to act. There will also be data about their trade data with China over the course of October. Both of these, in combination, will have a fundamental impact on this currency pair this week.
