Trade Optimism Boost the Dollar against Rivals & Fed Minutes takes Center Stage

Daily Update - 29th October 2019

Yesterday’s Market

• EUR: ECB’s Mario Draghi Speech
• JPY: Tokyo Consumer Price Index

Yesterday’s Explained

Mario Draghi has used his final speech as European Central bank president to appeal for more unity within the top echelons of the bank and among Eurozone policymakers, and to admit that its strategy is losing potency. Draghi said low interest rates are no longer delivering the same degree of stimulus as in the past. For monetary policy to achieve its objective faster and with fewer side effect, it needs other policies to step up.

While on the Eastern End of the globe Japan’s Consumer Price Index resulted negative pushing the Yen downwards against the Dollar.

 

Today’s Market

• AUD RBA Minutes
• German Buba Weidmann’s Speech
• US Consumer Confidence & Pending Home Sales

Today’s Explained

AUD RBA Minutes & Governor Lowe’s speech which will be a key indicator on the current economic trends of Australia. Followed by we have German Buba Weidmann’s speech which will be Opening speech at the Financial Markets Conference in Frankfurt. Title: "Climate change and central banks".

Finally to end the busy day US Economic Data will be Consumer Confidence which is a leading indicator of the current Consumer Confidence placed on Government Strategies and Policies for the region along with Pending Home Sales will be a key indicator of the current Housing Sector Indicators which is a main contributor to the US GDP.