Online Forex broker
On Wednesday, the evergreen buck jumped to a one-and-a-half-week maximum due to the fact that market participants awaited further signs from Fed Chair Jerome Powell on the outlook for the country’s monetary policy.
Jerome Powell is expected to come with a statement in Washington D.C at a town hall gathering with teachers.
Gauging the American dollar’s purchasing strength versus its major rivals the USD index shot up by up to 0.16% coming up with 95.965.
The previous week the Federal Reserve announced an end to its stance to tighten monetary policy. It was provoked by fears over decelerating economic surge both abroad and domestically.
In addition to this, American leader’s State of the Union address on Tuesday generated a minor movement due to the fact financial markets digested the prospects of one more government shutdown if the US legislative body fails to meet President’s demand for a border wall.
The evergreen buck declined versus the Japanese yen. As a matter of fact, the currency pair USD/JPY inched down by about 0.25% concluding the trading session at 109.67.
In addition to this, the UK currency revived a bit having dived to a two-week minimum of $1.2926 against the backdrop of reports that the European bloc wouldn’t reopen the Brexit divorce pact negotiated in 2018. The currency pair GBP/USD rallied by up to 0.15% hitting 1.2960.
The common currency dipped following dismal data from Germany. The currency pair decreased by 0.25% showing 1.1382.
The currency pair AUD/USD kept to a 1.4% minimum of 0.7129 right after Australian central bank governor Philip Lowe told that the major bank might lower interest rates.
The currency pair NZD/USD slumped by 0.7% being worth 0.6842. The Canadian dollar dived. The currency pair USD/CAD rallied by 0.46% reaching 1.3184.
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?
Geopolitical factors and inflation remain the main drivers of financial markets. Let’s see how to use that in trading!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
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.
Every week we expect many interesting events that can shake the market.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
