No important events are expected today.

The growth of quotations in the area of the nearest resistance levels is advisable to use for opening the Sell positions against the background of the strong growth of the US government bond yields. Ten-year Treasury securities closed last week above 4%, and two-year securities at 4.5%.

This situation signals that the U.S. Federal Reserve System will again raise the discount rate by 0.75% at its meetings on November 2 and December 14. Fresh data from the University of Michigan on inflation expectations of the population point to rising inflation, which leaves the Fed with no choice but to continue tightening monetary policy. As the ECB is considerably lagging behind the Fed, the European currency has little chance for a strong rise in quotations.

Recommendations: Sell 0.9800/0.9830, Take Profit 0.9745.