The euro-dollar (FXE) pair closed the week ending November 10 at 1.2, appreciating 0.48% against the US dollar (UUP).
The US bond markets (BND) witnessed higher levels of volatility as the uncertainty surrounding tax reform hit markets last week.
The US Dollar Index (UUP) lost steam last week after posting three consecutive weekly gains.
For the week ending November 10, the S&P 500 Index (SPY) closed at 2,582, depreciating 0.21% for the week.
Multiple events in different parts of the world led to an increase in volatility in global indexes last week.
For October, service sector activity rose at a pace not seen since the inception of the report. The non-manufacturing index reached a lifetime high of 60.1.
In its October “World Economic Outlook” report, the International Monetary Fund or IMF also listed risks to its forecasts.
The International Monetary Fund (or IMF) has upgraded its growth projections for Eurozone countries, including France, Germany, Italy, and Spain.
The International Monetary Fund (or IMF), in its October world economic outlook, downgraded its growth outlook for the United Kingdom.
The International Monetary Fund or IMF publishes the “World Economic Outlook” or WEO report biannually, in April and September or October, and it publishes two updates in January and July.
As per the latest JOLTS report, about 3.2 million American workers quit their jobs voluntarily in September.
The Job Openings and Labor Turnover Survey (or JOLTS) report for September came out on November 7. Job openings remained unchanged at 6.1 million as of the last business day in September.
The Japanese yen (JYN) continued depreciating against the majors as political stability guaranteed the continuation of Abenomics.
The British pound (FXB) depreciated 0.40% against the US dollar (UUP) for the week ending November 3. The pound (GBB) closed the week at 1.3076.
The euro-dollar pair (FXE) closed the week ending November 3 at 1.1609 against the US dollar (UUP). Worries about a possible escalation of tensions in Spain’s Catalonia region proved futile.
US bond markets (BND) experienced volatility last week as markets reacted to the FOMC statement, the nomination of the new US Federal Reserve chair, and mixed economic data.
The US dollar index (UUP) remained supported last week despite a dovish FOMC statement and a lower-than-expected rise in monthly non-farm payrolls.
For the week ending November 3, the S&P 500 index (SPY) closed at 2587, recording gains of 0.26% for the week.
Global volatility trended lower, as there was a lack of any surprises from the three central banks that announced their monetary policy decisions last week.
The British pound depreciated 1.41% against the US dollar after the policy statement from the BOE (Bank of England) on November 2.