Online Forex broker
On Tuesday, the evergreen buck added versus its counterparts because market participants weighed the latest worsening in the tit-for-tat tariff conflict between China and America, while a weaker common currency also raised market sentiment.
Estimating the greenback’s purchasing potential against it main rivals the USD index managed to surge by 0.16% trading at 94.25.
China told that on September 24 it’s going to slap new duties on American products worth $60 billion, although duties would be imposed at lower rates than had been anticipated.
Eventually, China's tariff rate on a list of up to 5,207 American goods is going to vary from 5% to 10%, which is below the previous array 10%-20%.
Market participants seemingly took it as an indication that both sides didn’t hurry up to enter a full-fledged trade conflict, as America also slapped levies at a lower rate than earlier anticipated.
On Monday, American leader told that fresh 10% duties on $200 billion in China’s products, which is below an original figure of 25% previously set by the presidential administration.
Furthermore, the currency pair AUD/JPY managed to grow by 0.71% showing 80.95. As for the currency pair USD/JPY jumped by 0.38% trading at Y112.31.
By the way, Australia’s economy heavily depends on exporting raw materials, exports to China, amounts to a third of Australian exports annually.
The evergreen buck was also underpinned by a retreat in the common currency because market participants became nervous about Italy's chance of passing a budget within the EU guidelines right after Deputy Prime Minister Luigi Di Maio had a tough dispute with Finance Minister Giovanni Tria over budget suggestions.
The currency pair EUR/USD went down by 0.18% being worth $1.1662. At the same time, the currency pair GBP/USD dipped by 0.11% trading at $1.3136.
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.
Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
Geopolitical factors and inflation remain the main drivers of financial markets. Let’s see how to use that in trading!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
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.
Every week we expect many interesting events that can shake the market.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
