Greenback rallies on trade war jitters

Greenback rallies on trade war jitters

On Wednesday, the evergreen buck went up, attracting safe-haven bids following reports of further tension in US-China trade talks, although its profits were minor, with caution anticipated from the major US bank at its policy gathering later in the day.

Volatility in the Forex market has receded because of a dovish shift by key financial institutions, including the Fed.

The adverse impact on the evergreen buck from the pause in the major US bank’s interest-rate-lifting cycle has been somewhat affected by a cautious ECB having to deal with a struggling euro zone economy.

The Federal Reserve is generally expected to remain its interest rate on hold.

Bets on an interest rate cut have tacked on following Friday’s weaker-than-anticipated manufacturing data.

Notwithstanding the downbeat outlook, on Wednesday, the evergreen buck managed to rally versus the Australian dollar as well as Japan’s yen and the Canadian dollar.

As a matter of fact, the Australian dollar went down by 0.25% concluding the trading session at $0.7070.

Versus a basket of major counterparts, the evergreen buck rallied by 0.1% coming up with an outcome of 96.454 having demonstrated its lowest outcome since March 1 - 96.291.

The vast majority of currencies are still within well-trodden ranges before the Fed verdict.

Some experts told that the evergreen buck might not dive a lot on the Fed gathering because traders have already priced in the Fed scaling back its interest rate outlook.

On Wednesday, the common currency slumped a bit versus the evergreen buck demonstrating a reading of $1.1344.

As for the UK pound, it headed south by about 0.3% showing $1.3220 on fears that Theresa May’s request to postpone Brexit might fail.


Monday started with volatility
Monday started with volatility

Have a look at the key financial instruments on Monday, February 28. Geopolitics is currently on all news frontlines. Western nations escalated sanctions on Russia for the invasion of Ukraine.

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Can the UK CPI surprise?
Can the UK CPI surprise?

The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.

The US Retail Sales Update
The US Retail Sales Update

The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.

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