Last week saw some significant fluctuations in the foreign exchange and commodity markets. The US dollar fell in the Asian market, while other currencies generally rose. At the same time, the price of gold decreased, but crude oil showed an upward trend.
The U.S. dollar index, also known as (DXY), fell to 103.85, reflecting a lack of improvement in U.S. economic data. This was attributed to a rise in initial jobless claims and the failure of industrial production to meet expectations in October.
The EUR/GBP currency pair consolidated around 0.8754 after last week’s drop in UK inflation, which was seen as a positive development. However, Deputy Governor Ramsden of the Bank of England pointed out that recent wage growth in the UK was inconsistent with the 2.0% inflation target, indicating weak supply capacity in the British economy.
In terms of financial event data, the U.S. Department of Commerce announced that the annualized monthly rates of building permits and new housing starts in October both rose higher than expected, indicating a potentially active real estate market in the future.
The article concludes with a disclaimer from CPT Markets, emphasizing that the content serves as a reference only and does not provide investment advice. The information is based on international financial data reports and news.