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.


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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