The US Dollar Index, a measure of the USD’s performance against a basket of major currencies, showed marginal losses on Monday, and the 10-year US Treasury bond yield closed nearly unchanged, hovering just above 4.6%.
In the Eurozone the EUR/USD pair remained stable around 1.0700 after registering slight gains the previous day. Forecasts for Europe’s economy indicated a modest 0.1% annual growth rate in the third quarter.
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In the UK the Office for National Statistics has reported that the ILO Unemployment Ratio of 4.2% for three months ended in September was unchanged. In the same period, wage inflation as measured by change in Average Earnings including Bonus fell to 7.9% from 8.2%. These statistics had a minimal impact on the Pound Sterling, as GBP/USD traded slightly below 1.2300.
Notably, the National Australia Bank’s Business Conditions Index showed a slight improvement, reaching 13 in October from 11 in September. The Business Confidence Index, on the other hand, dropped from 1 to -2 during the same time period. During the Asian trading session, AUD/USD was under moderate bearish pressure. It ended up registering a 0.2 %…