Australia, Canada, and EU Attempt to Steal the Fed Monetary Policy
Fed Chair Jerome Powell’s comments on the Jackson Hole Symposium resulted in the worst weekly candle in US500 since June.
Aussie and Kiwi slump as US dollar rebounds
On Wednesday, the Australian and New Zealand dollars headed south versus their American rival because the US currency managed to regain some strength. However, revenues were supposed to stay limited.
The currency pair AUD/USD dived 0.08% hitting 0.7954, which is off a new four-month maximum of 0.7999 demonstrated overnight.
The US currency modestly revived from abrupt losses reported amid worries that the global economic recovery is going to outpace American surge and help other key financial institutions, led by the European Central Bank to start unwinding loose monetary policy at a faster tempo than anticipated.
Hopes that the ECB could soon get down to taming its monetary stimulus initiative got a boost on Monday right after ECB Governing Council member Ardo Hansson informed that bond buying could be stopped in just one step in September if the EU economy as well as inflation develop as anticipated.
The currency pair NZD/USD dived 0.36% being worth 0.7242.
Similar
What to Trade on August 29 - September 2?
Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.
USD Moves Weird Ahead of CPI
The United States will publish the Inflation Rate and Core Inflation Rate, also known as US CPI and Core CPI, on August 10 at 15:30 GMT+3.
Latest news
Assets Won’t Survive This Week
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Post-Fed Releases for USD & CAD Traders
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
FED and BOE Make Another Attempt to Beat Inflation
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
