| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:00 | Germany | Gfk Consumer Confidence Survey | October | -21.9 | -21.5 | -21.2 |
During today's Asian trading, the US dollar consolidated against major currencies after posting its biggest session gain since June 7 yesterday and retreating from a 14-month low. Investors have taken a wait-and-see attitude ahead of a speech by Fed policymakers, who may clarify the timing and extent of further monetary easing.
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) fell by 0.01% to 100.90. Yesterday, Fed Governor Adriana Kugler said she "strongly supported" the Fed's latest decision, but did not talk about her preferences for further rate cuts. Later today, Fed Chairman Jerome Powell, New York Fed President John Williams, Boston Fed President Susan Collins, and Fed Governors Michelle Bowman and Lisa Cook will speak. The focus will also be on GDP data for the 2nd quarter, the durable goods orders report for August, as well as the report on initial jobless claims for last week. Statements by Fed policymakers, as well as new economic data, may affect investors' expectations regarding the Fed's further actions. According to the CME FedWatch Tool, markets see a 60.8% probability of a 0.50% rate cut at the November meeting and a 49.9% probability of a 0.25% rate cut in December, with a 0.75% rate cut expected by the end of the year.
The Australian dollar rose 0.6% against the US dollar, helped by higher prices for many commodities, as well as news from China, where Chinese leaders pledged to push to hit the 2024 economic growth target and stop declines in the housing market.