Categories: Market Overview

FxPro Daily Insight for November 7

Market overview

FX: The dollar index remains near 97.7, tightly tied to the news on trade talks progress. GBPUSD turned to rise on Thursday morning from 1.2835 on reports of a possible phased reduction in US and Chinese tariffs; EURUSD traded at 1.1080, after touching 1.1055.

Stocks: Futures for S&P500 jumped 0.6% on reports from the Chinese officials about the possible signing of Phase 1 in the “coming weeks.” MSCI World is growing 0.2% overnight, updating its historical highs of 2018th. The VIX volatility index fell from 13.15 to 12.58.

Commodities: Brent loses $0.5 in 24 hours, trading near $ 61.7. Gold little changed, staying near 1487.

Crypto: Bitcoin dipped to $ 9,230. Top 10 altcoins in the green zone, varying from -7% (XLM) to -1.6% (XRP).

Important upcoming events (GMT):

13:00 EUR [!!] European Commission Economic Forecasts 15:00 GBP [!!!] BoE’s Rate decision and Monetary policy report 16:30 USD [!!] US Unemployment Claims

Detailed economic calendar

The FxPro Analyst Team

Our team consists of financial market experts. Our dedicated professionals prepare reviews on the foreign exchange market situation, Crude Oil, Gold and Stock Indices. All the analysts are regularly published in the world leading economic media.

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