4 Global Market Updates- 5 October, 2022

 

In this article, we have covered the highlights of global market news about the EUR/USD, USD/IDR, GBP/USD and USD/JPY.

EUR/USD: The parity zone is a challenging obstacle for the bulls.

Investors seem to be taking profits on some of the recent significant increase, which has caused EUR/USD to drop back to the mid-0.9900s thus far in the European morning.

Due to the strong uptick in demand for the dollar after two days of daily gains, EUR/USD is presently under mild selling pressure.

In fact, despite the minor rebound in US and German yields, the US Dollar Index (DXY) manages to regain some upward momentum after bottoming out close to the 110.00 level, or 2-week lows.

Data-wise, the Eurozone saw a decline in Germany’s trade surplus to €1.2 billion in August and an unexpected increase in France’s industrial production of 2.4% MoM over the same time. Furthermore, final findings showed that the Services PMI in Germany declined to 45.0 and 48.8 for the larger Eurozone.

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