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Here is what you need to know on Friday, November 8: Following two days of highly volatile action, financial markets stay relatively quiet early Friday as investors digest the Federal Reserve’s (Fed) policy announcements following Donald Trump’s victory in the presidential election. The US economic calendar will feature the University of Michigan’s flash estimate of the Consumer Sentiment Index for November. US Dollar PRICE This week The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the strongest against the Swiss Franc.   USD EUR GBP JPY CAD AUD NZD CHF USD   0.54% -0.38% 0.43% -0.28% -1.37% -0.43% 0.64% EUR -0.54%   -0.95% -0.54% -1.20% -1.60% -1.35% -0.30% GBP 0.38% 0.95%   0.16% -0.27% -0.65% -0.39% 0.65% JPY -0.43% 0.54% -0.16%   -0.71% -1.25% -0.64% 0.52% CAD 0.28% 1.20% 0.27% 0.71%   -0.89% -0.15% 0.92% AUD 1.37% 1.60% 0.65% 1.25% 0.89%   0.26% 1.31% NZD 0.43% 1.35% 0.39% 0.64% 0.15% -0.26%   1.05% CHF -0.64% 0.30% -0.65% -0.52% -0.92% -1.31% -1.05%   The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote). The Fed lowered the policy rate by 25 basis points to the range of 4.5%-4.75% following the November policy meeting, as expected. In its policy statement, the Fed noted that risks to the job market and inflation were “roughly in balance,” echoing language from its September statement. In the post-meeting press conference, Fed Chairman Jerome Powell refrained from hinting on a possible…

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Filed under: News - @ November 8, 2024 7:23 am