What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Evergreen buck struggles on Powell’s remark
On Friday, the evergreen buck struggled for direction due to the fact that Fed Chair Jerome Powell came up with a statement that he would have the balance sheet changed if required.
Powell, who was delivering a speech at a Brookings Institution event alongside Janet Yellen as well as Ben Bernanke, told that the key US bank would act rapidly if market worries outweigh the firm economic data. He stressed that the major US financial institution is capable of adjusting its policy flexibly and instantly if required.
In addition to that, Fed Chair stressed that notwithstanding trade tensions putting pressure on Chinese consumers, the statesman expects the leading Asian country as well as other emerging markets to stay consistent with the rest of the surge in the world.
Positive jobs data uncovered earlier in the trading session ramped up the likelihood that the Fed will have rates lifted next year.
Gauging the purchasing potential of the American dollar versus its primary rivals the USD index went down by 0.11% being worth 95.77. The evergreen buck managed to surge versus its Japanese counterpart. The currency pair USD/JPY added 0.6% trading at 108.31.
Moreover, the currency pair EUR/USD stood still at 1.1401 because of the higher greenback as well as the gloomy eurozone data. In December, eurozone consumer prices rallied at a slower-than-anticipated tempo, ramping up expectations that the ECB will keep interest rates intact.
Furthermore, the UK pound surged because the services sector speeded up in December. The British economy is losing momentum ahead of Britain’s departure from the European bloc. The currency pair GBP/USD managed to ascend by 0.44% being worth 1.2686.
The currency pair USD/CAD dived by 0.7% coming up with .3387. NZD/USD tacked on by 0.5% trading at 0.6724. As for AUD/USD, it rallied by 1.26% hitting 0.7091.
What will happen? US consumer confidence will be announced at 5:00 MT (GMT+3) on Tuesday, July 27…
The OPEC meeting and the US Nonfarm Payrolls rocked the market last week. The market is torn between optimism about the global economic recovery and concerns about the new coronavirus strains.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!
What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!