What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Evergreen buck trades sideways
On Tuesday, the evergreen buck was trading sideways, having slumped on Monday following remarks from the Fed’s Charles Evans suggesting that there won’t be any change in interest rates for more than a year.
Evans told that he’d be quite comfortable with interest rates frozen where they’re until the fall of 2020, the outcome he thought would assist to ensure that inflation gets back to the Fed’s objective of 2% having dived for the last time.
The major US bank’s adoption of a looser policy stance hasn’t managed to provoke any considerable weakening of the evergreen buck because many other major financial institutions have followed it in giving up any plans for higher interest rates.
Overnight, Australia’s key bank had become the latest central financial institution to cling to an easier monetary policy. As follows from the minutes of the RBA’s recent policy meeting, if inflation didn’t soar from its current levels, and also if joblessness started to jump, then a tumble in the cash rate would probably be appropriate.
Following the news, the greenback went up by about 0.4% versus the Australian dollar.
Estimating the evergreen buck’s purchasing potential versus its main rivals the USD index stood still with a reading of 96.555.
Meanwhile, the common currency stood still, sticking with $1.1307. As for the UK currency, it dived a bit to $1.3090. Besides this, the Turkish lira was still pressured having reached a six-month minimum versus the evergreen buck on Monday.
The RBA’s move followed similar ones by the BoE, BOJ, ECB, and also the Reserve Bank of New Zealand for the last time.
Aside from that, the German ZEW confidence index is going to be uncovered at 05:00 AM ET, while the British March labor market data will be revealed at 04:30 AM.
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!