November 04, 2024 at 05:22AM
The dollar opened with a gap lower and then nudged down further in Asia Pacific trading today. It’s all about the US election and things have certainly heated up since the weekend, with a neck and neck race expected all of a sudden; if you are to believe the polls that is. Harris is seemingly back in it and that has weighed on the dollar to start the week.
It’s all about the headlines now and things will only get even more volatile and swingy when we get to voting day tomorrow.
So, it will be tough to read into the flows in markets as this pretty much overrides everything else in terms of focus and impact for the time being.
Looking to the session ahead, it will be sleepy time for North America so perhaps there won’t be much new developments to the picture above. As such, markets are likely to settle down and stick with the opening mood for the most part.
In terms of data, there will be some manufacturing PMI readings to move things along but these are final estimates. As such, they aren’t going to matter all too much. Here’s a snapshot of dollar pairs before we get to the agenda:
0815 GMT – Spain October manufacturing PMI0845 GMT – Italy October manufacturing PMI0850 GMT – France October final manufacturing PMI0855 GMT – Germany October final manufacturing PMI0900 GMT – Eurozone October final manufacturing PMI0900 GMT – SNB total sight deposits w.e. 1 November0930 GMT – Eurozone November Sentix investor confidence
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
This article was written by Justin Low at www.forexlive.com.
