Welcome to Tuesday!
Heads up to the FOMC statement
The Federal Open Market Committee will make its statement and announce the official rate on June 19, at 21:00 MT time.
Despite the demands by US President Donald Trump to cut the interest rate, no changes to it are expected. Now, policymakers keep the interest rate at 2.5%. However, we may find out the hints on the possibility of a rate cut later this year. Wednesday’s statement will show how the US-China trade war and recent weaker economic data affect the Fed decisions.
• If the Fed is hawkish, the USD will go up;
• If the Fed is dovish, the USD will go down.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…