The focus of today's currency market is on the direction of the US dollar, Japanese yen and euro, trends in US long-term interest rates, and expectations regarding US monetary policy. US bond markets will be closed for a holiday, while remarks by senior Fed officials are scheduled as the main events to watch.
Today's focus is on the direction of the US dollar, Japanese yen and euro, trends in US Treasury yields, and expectations regarding US monetary policy. No major indicators are due to be released, but US developments are expected to drive the market.
US bond markets will be closed for the Veterans Day holiday, while stock markets will trade as usual. Remarks by senior Fed officials are scheduled in succession from 08:30, with Vice Chair Bowman and President Paulson among those attracting attention.
In Europe, attention will also focus on remarks by ECB President Lagarde at 18:45. In addition, no major US events, including the MBA Mortgage Applications Index, are scheduled for release.
Market participants are positioning for a renewed move toward buying the US dollar and periods of dollar strength, while monitoring trends in long-term interest rates and the next monetary policy decision, scheduled for 9 December.