| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 00:30 | Australia | National Australia Bank's Business Confidence | October | -2 | 2 | 5 |
| 07:00 | Germany | CPI, m/m | October | 0% | 0.4% | 0.4% |
| 07:00 | Germany | CPI, y/y | October | 1.6% | 2% | 2% |
| 07:00 | United Kingdom | Average Earnings, 3m/y | September | 3.9% | 3.9% | 4.3% |
| 07:00 | United Kingdom | Claimant count | October | 10.1 | 30.5 | 26.7 |
| 07:00 | United Kingdom | ILO Unemployment Rate | September | 4% | 4.1% | 4.3% |
During today's Asian trading, the US dollar rose moderately against major currencies, continuing the recent rally, and reaching its highest level since July 2, as market participants continued to pile into trades seen as benefiting from the victory of Donald Trump.
The US Dollar Currency Index (DXY), which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona) rose by 0.23% to 105.79. Since the beginning of the month, the index has added 1.75%, fueled by expectations of U.S. economic superiority and aggressive trade practices from the Trump administration. Expectations of a slower pace of monetary easing by the Fed due to potentially inflationary tariffs and immigration policies are also supporting the dollar. According to the CME FedWatch Tool, markets see a 65.3% probability of a 0.25% rate cut in December (compared to 77.3% a week earlier). Market participants are also preparing for the publication of US inflation data: the consumer price index for October will be presented on Wednesday, and the producer price index for October will be released on Thursday. Economists expect the CPI to grow by 2.4% per annum, as in September, while the growth of the core CPI stabilized at 0.3% m/m. If the data exceeds forecasts, it will reduce the likelihood of another Fed rate cut at the December meeting.
The euro fell to a seven-month low against the U.S. dollar, and the Chinese yuan hit a more than three-month low against the U.S. dollar, as Europe and China are considered the main targets of Trump's potential tariffs. Trump warned that the European Union will "pay a high price" for not buying enough American exports, and cars will become a special target of the new US president. He has threatened China with blanket 60% tariffs.