Euro Edged Higher Against The Dollar Following Feds Minutes
The Wall Street Journal reports that BNP Paribas will no longer finance shale and oil sands projects, as it is re-evaluating its relationship with the oil sector amid mounting pressure from investors and top financial institutions.
By the close of the London Session, Sterling edged down after rising for consecutive two sessions, as doubts emerged on whether expectations of higher UK Interest Rates were reasonable given a backdrop of uncertain Brexit negotiations. Swiss Franc advanced, extending previous session gains, as the Dollar eased on US President Donald Trump’s public feud with Tennessee Senator Bob Corker, who raised concern that his push for a tax-code overhaul could be harmed.
The Dollar also declined against the Japanese Yen with rising uncertainty on Donald Trump’s Tax overhaul plan. The Euro rallied to a two-week high on relief that Catalonia had stopped short of formally declaring Independence from the rest of Spain. The Australian Dollar climbed, extending gains for the second straight session after an upbeat consumer confidence reading boosted hopes for a rebound in consumption.
Wall Street Session saw the Euro edge higher against the Dollar following the Minutes from the Federal Reserve’s September Meeting were released as expected. GBPUSD steadied with entrenched expectations of higher UK Interest Rates and uncertain Brexit negotiations. USDCAD advanced as prices of Oil, one of Canada’s major exports rose for a third day. USDJPY declined on the heels of the Feds’ Meeting Minutes.
Dow Jones, S&P500 and Nasdaq all closed on a positive note. Gold extended gains as Spot Gold was up 0.4%. Brent Crude advanced and so did WTI Crude.
All the major Asian Indices were trading high Thursday morning as Gold stabilizes to the $1,290 mark.
Potential Catalysts High Impact
12:30 PM GMT US Core PPI (MoM) (Sep) 12:30 PM GMT
12:30 PM GMT US PPI (MoM) (Sep)
3:00 PM GMT US Crude Oil Inventories
2:30 PM GMT ECB President Draghi Speaks
6:45 AM GMT French CPI (MoM) (Sep)
9:00 AM GMT EuroZone Industrial Production (MoM) (Aug)
12:30 PM GMT Canada New Housing Price Index (MoM) (Aug)
9:30 PM GMT New Zealand Business NZ PMI (Sep)