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 declines in early Asia
On Tuesday, the Australian dollar sagged in early Asia, with no key regional data because market participants keep monitoring dollar weakness amid political turmoil in America.
The currency pair AUD/USD hit 0.7937, inching down 0.01%. Meanwhile, AUD/JPY reached 109.07, soaring 0.09%.
Estimating the greenback’s actual strength versus a basket of six main currencies, the US dollar index went down 0.39% being worth 93.00.
Overnight, the evergreen buck slumped versus global currencies amid a definite uptick in safe-haven demand, reacting to resumed geopolitical tension in the Korean Peninsula because US-South Korea military exercises already got underway.
The US currency lost ground versus safe-haven currencies, such as the Japanese yen as well as the Swiss franc after on Monday America and South Korea started their computer-simulated military exercises, potentially risking a reaction from Kim Jong Un, North Korean leader, who might consider such exercises as preparation for an invasion of his country.
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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
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.
Will the UK and US Cope with Inflation?
Every week we expect many interesting events that can shake the market.
