What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Aussie and Kiwi head south vs. broadly stronger US dollar
On Wednesday, the Australian and New Zealand dollars slumped because hopes for another US rate hike in December gave broad support to the US currency. Additionally, market participants were closely watching the Reserve Bank of New Zealand's interest rate verdict on Thursday.
The currency pair AUD/USD went down 0.38% being worth 0.7856. That’s the lowest outcome since August 16.
On Tuesday, Fed Chair Janet Yellen stressed that the major US bank requires continuing gradual interest rate leaps notwithstanding uncertainty as for the path of inflation.
The greenback had already gained support after on Monday New York Fed President William Dudley told that the Fed is on the verge of gradually lifting interest rates as factors depressing inflation are receding and the American economy's fundamentals are sound enough.
The currency pair NZD/USD edged down 0.17% trading at 0.7195.
The RBNZ is believed to leave interest rates intact at 1.75%, although comments following the verdict will be closely watched for any clues on future policy decisions.
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.
Read a short market wrap before trading today!
The United States will publish the non-farm employment change, also known as non-farm payrolls or NFP at 15:30 MT (GMT+3) time on August 6.
Our analyst discusses the latest news and shares his trade ideas on gold, EUR/USD, and S&P 500. Jump in!