New York money market conditions: Dollar slightly appreciates. Keep an eye on US election results and Fed meeting

US Dollar and Forex Market and Forex Trading

The US Dollar (USD) was slightly appreciated against all major currencies. In trading at the New York Exchange last night (Nov. 2), investors watched the outcome of the US presidential election on Tuesday, Nov. 3, US time. Including the Federal Reserve’s monetary policy meeting and the release of nonfarm payroll figures this week.

The dollar index, which measures the greenback against six major currencies in the basket, was up 0.09 percent to 94.1303 on Monday.

The US dollar was higher against the yen at 104.83 yen from 104.67 yen and was higher against the Swiss franc at 0.9201 franc from 0.9170 francs, but against the Canadian dollar. The US dollar fell to $ 1.3226 from US $ 1.3317.

The euro fell against the dollar at $ 1.1629 from $ 1.1644, while the pound fell to $ 1.2899 from $ 1.2956, while the Australian dollar rose to $ 0.7047 from $ 0.7028.

Investors keep a close eye on the outcome of the US presidential election. Which although the survey results of every bureau indicate that President Donald Trump will lose to Democratic rival Joe Biden. In this election But votes from those who have not yet decided And votes from many states that are not the base of both Democrats and Republicans. It may be the deciding factor for this election.

In addition to the US presidential election results Investors also keep an eye on the Federal Reserve’s Monetary Policy Meeting on Nov. 4-5, just one day after the US presidential election. And the release of non-farm employment figures on Friday.

For the most recent US economic data released last night. The U.S. Institute of Supply Management (ISM) said the US manufacturing index surged to 59.3 in October, the highest level since November 2018. And higher than analysts had forecasted at 55.8 from 55.4 in September.

The US Department of Commerce said. Construction spending was up 0.3% in September after a 0.8% increase in August, while analysts had previously forecasted a rise of 0.8% in August. Construction spending will rebound 1.0% in September.

IHS Marquit revealed that the purchasing managers index (PMI) of the US manufacturing sector. It rose to 53.4 in October, the highest level since January last year, from 53.2 in September.

Other US economic data due to be released this week include factory orders for September, October private employment figures from ADP, September trade balance, and department managers’ index. Final Services Sector Purchasing (PMI) October by Marquit, October Service Index from the US Institute of Supply Management (ISM), weekly unemployment claims and employment numbers. Non-agricultural in October.

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