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  • European session review: USD trades flat as investors prepare for next week’s Fed policy meeting
Ekonomické zprávy
27.10.2021

European session review: USD trades flat as investors prepare for next week’s Fed policy meeting

TimeCountryEventPeriodPrevious valueForecastActual
06:00GermanyGfk Consumer Confidence SurveyNovember0.4-0.50.9
06:45FranceConsumer confidence October10110199
08:00EurozonePrivate Loans, Y/YSeptember4.2% 4.1%
08:00SwitzerlandCredit Suisse ZEW Survey (Expectations)October25.7 15.6
08:00EurozoneM3 money supply, adjusted y/ySeptember7.9%7.5%7.4%

USD traded mixed and little changed against other major currencies in the European session on Wednesday, as investors prepared for the U.S. Federal Reserve’s monetary policy meeting, set to be held on November 2-3.

The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, edged down 0.06% to 93.90.

Market participants are also looking to policy updates this week from the Bank of Canada (BoC), the Bank of Japan (BoJ), and the European Central Bank (ECB) for clues on the interest rates prospects amid growing inflation pressures.

Meanwhile, the U.S. Treasury yield curve is flattening, as shorter-dated yields are rising (the 2-year yield is up 1 basis point to 0.489% at the moment) amid increased bets that inflation will bring forward interest rate hikes, and longer-dated yields are declining (the 10-yr yield is down three basis points to 1.585%).

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