The sentiment was somewhat changed in markets on Friday, as investors were skeptic as to whether the EU debt deal would actually work amid the lack of details, while a mixed income report from the United States further weighed down on confidence in markets, as investors shunned risky assets and targeted lower yielding assets.
The U.S. income report showed that personal income rose below expectations in September, while personal spending rose in line with estimates, however, the savings rate fell, which raised concerns in markets. Moreover, the Fed’s favorite gauge for inflation, Core PCE showed that inflationary pressures eased slightly in September.
The U.S. dollar was slightly lower against a basket of major currencies on Friday, where the U.S. dollar index was trading at 74.99, compared with the opening level at 75.05. The Euro slightly fell against the Dollar, where the EUR/USD pair traded at $1.4175, compared with the opening level at $1.4198, the British Pound gained against the Dollar, where the GBP/USD pair traded around $1.6140, compared with the opening level at $1.6098, and the U.S. dollar fell against the Japanese Yen, where the USD/JPY pair was trading at 75.76, compared with the opening level at 75.97.
Stocks in the United States fluctuated between gains and losses by opening on Friday, as the Dow Jones Industrial Average was higher by nearly 0.15% to trade around 12,226, while the S&P 500 index was up by nearly 0.05% to trade around 1285. European stock indexes were lower before closing on Friday, where FTSE 100 was down by nearly 0.30% to trade at 5697 and the DAX was down by nearly 0.10% to trade around 6333.
Gold prices were slightly lower on Friday to trade now around $1743 an ounce and crude oil prices also fell slightly to trade around $93 a barrel.
Read more Forex Market Analysis here!
