
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
On Wednesday, the evergreen buck stood still notwithstanding a dive in American equities overnight. As for key currencies, they were intact too.
Estimating the purchasing power of the American currency against a number of its rivals the USD index lost nearly 0.03% trading at 96.67.
As a matter of fact, the Dow Jones Industrial Average went down by 551.80 points concluding at 24,465.64. Besides this, the S&P 500 slumped by about 1.8% concluding the trading session stateside at 2,641.89. As for the Nasdaq Composite, it declined by approximately 1.7% showing 6,908.82.
Besides this, the Dow along with the S&P 500 erased their profits for this year and they’re currently down by respectively 1% and 1.2% for the year.
As some financial analysts pointed out what's driving the foreign exchange market now are worries of a deceleration in the economic surge. Safe haven currencies, including the greenback and yen, will most probably benefit from this.
Although not a directional driver, American leader kept pressuring the Fed on Tuesday, telling that Interest rates were extremely high. Donald Trump told that the country currently has a problem with the Federal Reserve and this issue is far more serious than anything else.
Besides this, the safe-haven yen slumped a bit versus the evergreen buck because Japanese investors preferred to keep their funds in American as well as foreign markets. The currency pair USD/JPY ending up with 113.00, soaring by up to 0.05%.
Besides this, the currency USD/CNY was intact showing 6.9461.
As for the currency pair GBP/USD, it stood still sticking with 1.2793. Investors actually expect the UK currency to trade sideways until the foreign exchange market gets more clarity on progress in the Brexit agreement.
What’s more, AUD/USD and NZD/USD both rallied by up to 0.3%.
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
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.
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
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