The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.
Dutch election outlook buoys common currency
On Thursday, the common currency stood tall after Dutch election exit surveys pointed to a comfortable win by the prime minister over his far-right counterpart, while the greenback wallowed at a one-month minimum after the Fed sounded less hawkish than anticipated on future rate lifts.
The euro managed to surge to a five-week peak of $1.0746, having soared 1.2% overnight.
The common currency was spurred as exit surveys revealed that the Netherlands' center-right Prime Minister Mark Rutte saw off a challenge by anti-EU and anti-Islam Geert Wilders in Wednesday’s election, thus alleviating worries towards Holland opting to break up with the EU.
The dollar index against a basket of key currencies dropped 0.2%, hitting 100.560.
It went down more than 1% yesterday, touching 100.490, its lowest value since February 17.
On Wednesday, the US dollar took a knock after the Fed ended its two-day policy gathering by simply increasing interest rates just as expected, though stuck to projections of three total rate lifts in 2017.
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.
Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
The ECB is expected to raise the interest rate to 1.5% and oil is falling
Good morning, our dear traders! Are you ready for the news that is worth following for trading today? Let’s see! Today’s events: 14:00 GMT+2, EUR, ECB President Lagarde Speaks 16:30 GMT+2 CHF, Gov Board Member Maechler Speaks Bitcoin’s…
It’s Wednesday, my fellow traders! The day is filled with news and events you need to know, and here’re some of them.