The US dollar rebounded after an increase in US consumer confidence in October, jumping from the expected 49.3 to 50.2. A big leap after hitting a 7-month low has fueled forex trading investors’ preference to the dollar over other currencies. Both stock markets increased, by 0.26% for NASDAQ and by 0.05% for Dow Jones. As for the price of crude oil, it fell by 0.1% to close at $82.55/barrel. Gold closed at $1,338.60/ounce after also falling by 0.1%.

After going strong for the past few days, the euro fell against the dollar. As it seems, the weaker euro resulted from talks about Fed Reserve’s increased debt purchases that will affect inflation. Once the EUR/USD breaches the 1.3950 level, the euro will move on with its positive momentum. The EUR/USD pair reached a high of 1.3982 and a low of 1.3825.

On the other hand, the market saw a stronger British pound after a remarkable improvement in the UK economy. From an initial forecast of 0.4% for the third quarter, GDP climbed to 0.8%. The GBP/USD has a resistance level of 1.5900 on the one-hour analysis chart. When the currency pair trades below this level, it is a negative momentum for the British currency. The GBP/USD posted a high of 1.5896 and a low of 1.5706.

After trading mixed, the US dollar fell against most currency majors in the forex trading market. The better than expected home sales data, which came out at 4.53M vs. 4.25M forecast, didn’t help boost the US currency. Instead, the G20 seems to be largely influencing the market movement. On the other hand, the US stock markets managed to go up by 0.46% for NASDAQ and 0.28% by Dow Jones. As for the commodities market, crude oil closed at $82.52/barrel after a 1.00% increase and gold closed at $1,340/ounce after a 1.1% increase.

The euro managed to push through with its rally versus the US dollar, especially after Industrial New Orders came out better than the expected 2.1%, at 5.30%. Following a stronger euro, the EUR/USD traded at a high of 1.4079 and a low of 1.3935. After touching its highest weekly loss since August, the British pound managed to pull some gains versus the US dollar. This is despite the fact that Mortgage Approvals came out at 31.10K, which is worse than the expected 31.60K. The strengthening of the British pound can be attributed to the investors’ search for better yielding currencies. In which case, the buyers overpowered the sellers. In the end, the GBP/USD traded at a high of 1.5772 and a low of 1.5677.