Evergreen buck gives up profits

Evergreen buck gives up profits

On Monday, the evergreen buck stood still versus most of its key rivals, backed by hopes for tighter American monetary policy. Meanwhile, the British pound gave up almost all its recent profits, as market participants sought clarity around Brexit.

Against its main counterparts the USD index kept to 96.50.

Market experts are quite bullish on the US currency, backed by firm economic surge and see the Fed on track to list interest rates in December and also another two lifts by mid-2019.

Friday’s data disclosed that in October American jobs surge rebounded steeply and wages demonstrated their greatest annual profit for 9-1/2 years.

Meanwhile, on Monday, ten-year American Treasury gains amounted to 3.2%, having surged on Friday backed by the jobs report.

Such a leap is anticipated to help the evergreen buck to firm versus Japan’s currency, staying intact at 113.22.

The US currency declined by 0.66% against the Japanese yen because news flow around trade clashes, geopolitical risks as well as a global economic deceleration gave the Japanese yen a flight-to-safety boost.

In addition to this, the UK currency retraced its intra-day maximum during thin Asian trade, although for the day it surged by 0.13%. Year to date it has gone down by 3.7% against the American dollar.

The upbeat sentiment around a smooth Brexit also backed the common currency in early Asian trade. Nevertheless, the euro gave up all its profits and stood still at $1.1385.

In addition to this, the offshore Yuan went down against the evergreen buck hitting 6.9123.

As for the offshore-traded Yuan, it managed to rally against the US currency for the last two trading sessions, backed by soaring expectations that trade tension between the United States and China will recede.

The Australian dollar slumped by 0.14% hitting $0.7186.





What to Trade on August 29 - September 2?
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.

Latest news

FED and BOE Make Another Attempt to Beat Inflation
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.

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