What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Greenback inches down
On Wednesday, the evergreen buck slipped versus a pack of crucial currencies, diving for a second day in a row because trade clashes receded, while the British currency hovered over one-year minimums, pushed down by everlasting Brexit uncertainty.
Assessing the purchasing potential of the main American currency versus its primary rivals, the USD index hit a minimum of 94.82 having dived by 0.2% the day before. Apparently, the previous week the USD index achieved the highest value for almost a year, underpinned by soaring American interest rates as well as worries over the influence of trade conflicts.
The recent ascend in the evergreen buck has receded because worries over global trade tensions weakened, thus affecting safe haven demand for the US currency.
Trade tensions were still in focus after on Tuesday the current US presidential administration told that it’s geared up towards slapping 25% duties on another $16 billion of Chinese products later this month.
The given move appears to be the latest by the US government to force China to start negotiating trade concessions after it had slapped duties on $34 billion of products in July, this driving promises from the Asian country to adequately respond.
The evergreen buck inched down versus the Japanese yen. The currency pair USD/JPY dipped by 0.38% being worth 110.96 ahead of the anticipated bilateral trade negotiations between Japan and the United States on Thursday in Washington.
Japan’s currency gained momentum versus the common currency too. The currency pair EUR/JPY dived by about 0.46% reaching 128.61.
The common currency edged down a bit versus the evergreen buck. The currency pair EUR/USD inched down by 0.1% trading at 1.1586.
The common currency edged up to its highest value since November versus the UK pound. The currency pair EUR/GBP leapt by 0.17% showing 0.8975.
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!