Australia, Canada, and EU Attempt to Steal the Fed Monetary Policy
Fed Chair Jerome Powell’s comments on the Jackson Hole Symposium resulted in the worst weekly candle in US500 since June.
Greenback dives in Asia on Fed rate views
On Thursday, the evergreen buck sagged in Asia because Fed minutes unveiled an increased debate about another rate lift in 2017 as well as the political backlash against Donald Trump's recent remarks on racist confrontations in Virginia definitely put pressure on the US currency.
The US dollar index, estimating the greenback’s value versus a trade-weighted basket of six crucial currencies, dived 0.16% trading at 93.26.
The currency pair USD/JPY reached 109.78, descending 0.37%, AUD/USD hit 0.7937, heading north 0.15%.
Meanwhile, Japan posted July’s trade balance figures with a surplus of about ¥492 billion, which is wider than the expected ¥392 billion, along with a 16.3% profit in imports, a bit weaker than the 17% revenue observed, and a 13.4% soar in exports, missing the 13.6% soar seen.
In Australia, the employment change demonstrated +27,900 jobs in July, surpassing 20,000 jobs actually expected for an unemployment outcome of 5.6% as observed.
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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.
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Post-Fed Releases for USD & CAD Traders
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
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.
