By the beginning of the session the dollar began to win back its positions relative to the major pairs. This is despite the fact that during the Asian session the dollar index tended to be thin. At the moment the dollar index is trading at 92.75.
In anticipation of an increase in the interest rates by the Federal Reserve, inflation data in the United States has not yet been reached the forecasted.
At the moment the pair EUR/USD demonstrates stable growth at the level of 5 days and by now it has reached a 3-week maximum.
Of the expected important events today, the highlight is on the ECB President Mario Draghi who will deliver a speech. We also expect the output of the producer price index in the US for September, which is expected to exceed the previous index of 0.2% and amount to 0.4%. This index is a leading indicator of inflation, so investors are likely to support the reserve currency.
Also today is the weekly report on crude oil reserves in the US.
More news for today watch here.
