The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Aussie and Kiwi soar vs. US dollar ahead of Fed decision
On Wednesday, the Australian and New Zealand dollars ascended versus their American rival because market sentiment on the US currency was still uncertain ahead of the Fed’s highly-anticipated policy decision a bit later in the day.
The currency pair AUD/USD gained 0.17% reaching 0.7571.
The Fed is generally believed to lift its interest rates at the conclusion of its two-day policy gathering later on Wednesday. However, worries over tepid inflation could change the outlook for next year.
The US currency also dived amid fresh American political worries, after a Democrat nominee managed to grasp a US Senate seat in Alabama, thus diminishing the Republican camp's Senate majority.
The reduced Senate majority could potentially prevent Donald Trump from implementing tax reform plans as well as other economic policies.
The currency pair NZD/USD gained 0.10% hitting 0.6941, which is the highest value since November 9.
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!