What you need to Know on Wednesday, November 13
Publish Date : 2019/11/13 - 07:35

What you need to Know on Wednesday, November 13:

The prospect of a trade deal has worsened after Trump's speech that threaten China to raise tariffs again. Trump has also blamed other countries for insulting the United States. The focus is now on the testimony of Federal Reserve Chairman Jerome Powell in Capital Hill.

In the US economic calendar, we will have the Consumer Price Index, which is expected to be at 2.4%.

Safe-haven currencies have advanced, while commodity currencies have been under pressure.

The NZD/USD rose after the Reserve Bank of New Zealand did not change interest rates. The bank was expected to cut interest rates due to lower inflation. Chairman of the Reserve Bank of New Zealand Adrian Orr, expressed satisfaction with the previous decline in the rate and economic conditions.

Contradictory information is available on polls for the UK election. In today's economic calendar, we see the report of inflation in October and the forecast for it to fall to its lowest level since 2017.

The EUR/USD is on the downside. Euro zone industrial production is expected to decline in September. ZEW Economic Sentiment was good for Germany, but it still reflects pessimism.

Cryptocurrencies have not changed much.

Source: FXStreet

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