Evergreen buck heads south on remarks from Fed’s Williams

Evergreen buck heads south on remarks from Fed’s Williams

On Friday, the major US currency slipped because New York Federal Reserve President John Williams told that the correlation between inflation and employment is already kicking.

For the last time, the correlation, dubbed the Phillips Curve, has been in doubt because of no inflation notwithstanding the unemployment rate approaching record minimums.

On Friday, Williams told that the Phillips Curve still exists and the key US financial institution needs to be vigilant as for inflation as well as weakening inflation expectations.

Assessing the greenback’s purchasing potential versus a group of its main rivals the USD index slipped by 0.16% showing 96.31.

The evergreen buck declined versus the safe-haven yen. The currency pair USD/JPY tumbled by about 0.17% ending up with 110.65. Japan’s currency is normally sought by traders as a safe haven asset during times of market or economic stress.

Market participants are also closely watching trade developments. Currently, they’re going well enough, although they still lack clarity on a number of major issues. Among them we should mention technology transfers and intellectual property, as Reuters uncovered.  

By the way, American leader is anticipated to meet with China’s Vice Premier Liu He soon.

In addition to this, the common currency rallied because of the weaker evergreen buck. The currency pair EUR/USD soared by 0.18% being worth 1.1352.

As for the UK currency, the pound revived a bit having dived earlier in the session in the face of news that a vote on a Brexit deal next week isn’t probable. The currency pair GBP/USD tacked on by 0.1% concluding the trading session at 1.3062.

Meanwhile, the currency pair AUD/USD went up by up to 0.68% coming up with a reading of 0.7139. As for NZD/USD, this pair jumped by about 0.6% showing 0.6842.


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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