What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Aussie and Kiwi head north as traders are focused on Fed meeting
On Tuesday, the Australian and New Zealand dollars ascended versus their American counterpart because traders were looking ahead to the Fed’s anticipated policy meeting.
The currency pair AUD/USD tacked on 0.24% being worth 0.7977.
The Fed is generally believed to leave interest rates intact this week. Evidently, the major US financial institution could provide further indications on when it intends to start unwinding its balance sheet and on any future interest rate decisions.
Additionally, market participants were also monitoring American data on building permits as well as housing starts for further signs on the health of the US housing market.
The currency pair NZD/USD managed to go up 0.44% demonstrating an outcome of 0.7290.
Meanwhile, worries over tensions between the United States and North Korea were still subdued. However, they were prone to resume at any moment.
What will happen? US consumer confidence will be announced at 5:00 MT (GMT+3) on Tuesday, July 27…
The OPEC meeting and the US Nonfarm Payrolls rocked the market last week. The market is torn between optimism about the global economic recovery and concerns about the new coronavirus strains.
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.