In October, American wholesale inventories rallied a bit more than initially anticipated because sales went down, dropping a hint that inventory investment could potentially contribute to economic surge in the fourth quarter…
Federal Reserve makes a decision
US central bank lifted the interest rate at the March meeting. The market expects at least two more rate hikes this year. The US dollar has already strengthened much, and the central bank has to increase the interest rate to make the greenback’s rally continue.
At the last meeting of the Federal Reserve in May, it hinted at a possible rate hike in June.
The Federal Reserve will release the rate statement at 21:00 MT time on June 13.
• If the Fed raises the interest rate, the USD will move up.
• If the Fed doesn’t increase the interest rate, the USD will lose momentum.
Moreover, the Federal Reserve will hold a press conference at 21:30 MT time. In the first part, its Chairman Jerome Powell will read a statement containing comments on the economic conditions that influenced the central bank’s decision. After that, he will answer the questions of the press. Answers will create a high volatility in the market. During the press conference, traders will get clues on the future policy of the Fed.
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The United States will release the non-farm employment change, also known as non-farm payrolls or NFP at 15:30 MT time on December 7.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…