Greenback rallies before Fed

Greenback rallies before Fed

On Thursday, the evergreen buck ascended versus a group of its opponents because traders focused on a monetary policy announcement from the key US bank, while the British pound was still backed above the 1.30 level due to Brexit optimism.

Estimating the purchasing potential of the American currency versus its primary peers the USD index managed to rally by up to 0.18% showing 95.98.

The evergreen buck regained ground having dived in the previous trading session because the likelihood of gridlock in the US government in the wake of midterm elections might greatly tame Donald Trump’s legislative agenda.

In 2018, the major American currency has generally ascended, backed by a firm domestic economy, soaring interest rates as well as the effects of American fiscal policy.

The primary US financial institution was generally anticipated to leave interest rates intact later on Thursday, with another rate lift expected in December. However, its views on the American economic outlook could have markets moved.

The evergreen buck managed to ascend versus the Japanese yen. The currency pair USD/JPY gained 0.14% ending up with a result of 113.68.

The common currency was nearly intact versus the American dollar. The currency pair EUR/USD demonstrated 1.1432.

Besides this, in the euro zone, reports disclosed that German exports managed to go down by about 0.8% in September. It appeared to be the greatest dive since February. Moreover, the report contributed to fears that the euro zone’s number one economy is being affected by global trade clashes.

Demand for the UK currency was still backed by hopes for a Brexit deal between the United Kingdom and the European bloc. As a result, the currency pair GBP/USD was seen at 1.3135.

Against the common currency the UK pound was at five-month maximums. The currency pair EUR/GBP hit 0.8701, which is the weakest value since May 30.





What to Trade on August 29 - September 2?
What to Trade on August 29 - September 2?

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.

Latest news

FED and BOE Make Another Attempt to Beat Inflation
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.

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