The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Greenback goes down in Asia as NKorea sanctions fall short
On Tuesday, the evergreen buck declined in Asia because market participants noted the impact of the fresh UN sanctions on North Korea for its missile and nuclear test turned to be weaker than expected and that political risk was still a firm regional concern.
The currency pair USD/JPY reached 109.30, sliding 0.09%. At the same time AUD/USD hit 0.8013, descending 0.17%.
Gauging the greenback’s value versus a trade-weighted basket of six crucial currencies, the US dollar index edged down 0.08% being worth 91.58.
Australia unveiled August’s NAB business confidence reading was 5, the NAB business survey hit 15, versus respectively 12 and 15 in July.
Overnight, the evergreen buck edged up versus a basket of key currencies, underpinned by a steep dip in demand for safe-haven currencies because geopolitical uncertainty relieved after North Korea stood away from conducting another nuclear test over the weekend as previously anticipated.
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.