Market updates on August 19
There were no major moves during the Asian trading session, however we have some events today, which may affect the sentiment in the market.
Evergreen buck stabilizes ahead of Fed
On Wednesday, public holidays along with the approach of the Fed’s monetary policy statement are keeping a tight lid on foreign exchange movements, with the common currency holding on to most of its profits after a firmer-than-anticipated first quarter GDP report on Tuesday.
With EU and Japanese markers closed, the US major bank’s statement as well as Fed Chair Jerome Powell's subsequent press conference will most probably overshadow everything else on Wednesday.
A decision to keep official rates intact appears to be a foregone conclusion. Therefore, market focus will probably be on the Federal Reserve’s interpretation of the previous week’s GDP report. Experts argued that the underlying dynamic of the American economy happened to be weaker than the suggested annualized surge figure of 3.2%, although not weak enough to guarantee cutting interest rates.
The common currency was worth $1.1223, surpassing Tuesday’s outcome by about 0.1% against the backdrop of suspicions that the Eurozone GDP report on Tuesday might not have been as firm as it looked.
Aside from that, the UK pound was staying above $1.3000.
Estimating the greenback’s purchasing potential versus its main rivals the USD index was worth 97.205, standing still.
In addition to this, the probability of China and America striking a trade deal has increased following reports that America had dropped one of its major demands, which is its insistence that China should cease alleged instances of cyber-theft. As some sources state, it has made a watered-down trade agreement more real.
Negotiations can’t resume indefinitely, and both sides require a win. Experts added that American leader might not always obtain he wants.
Similar
Weekly Cryptonews
Cryptocurrencies are going down... What may signal a recovery?
Jobs data for Australia may support the AUD
Australia will release the level of employment change and unemployment rate on August 15, at 4:30 MT time.
Latest news
Crypto assets decline as OECD demands global ICO regulation
On Monday, crypto assets tumbled due to the fact that the Organization for Economic Cooperation and Development drew attention to the necessity of the global regulation of initial coin offerings…
German exporters don’t care about stronger euro
German exporters demonstrate ascending optimism as for their business prospects because growing demand from other euro zone countries helps to compensate worries regarding the strengthening currency, as the Ifo economic institute told on Wednesday…
Japan's October machinery orders tack on
In October, Japanese machinery orders rebounded with a faster soar than anticipated, thus re-affirming the resilience of capital spending, which is a major driver in the Japanese economy's almost two-year expansion…
Deposit with your local payment systems
