On Thursday, the evergreen buck dived to one-month minimums versus a currency basket right after the key US bank lifted interest rates, although stuck to its estimate for two more lifts in 2018, while concerns over heightened trade tensions put pressure…
Upbeat Fed comments underpin the evergreen buck
On Thursday, positive comments from the US key financial institution at the conclusion of its policy gathering on Wednesday lent support to the evergreen buck. Therefore, the US currency headed north.
The major American currency gained support right after the Federal Reserve expressed its confidence as for economic surge and inflation in the United States.
The Federal Reserve expects inflation to edge up in 2018. Undoubtedly, it underpins hopes for further interest rate lifts under Jerome Powell, an incoming key bank governor.
On Wednesday, the Federal Reserve decided not to alter its interest rates. The given decision happened to be rather an anticipated move. By the way, it was the last gathering of the American key financial institution with Janet Yellen as Fed Chair.
The decision arose after ADP payrolls processing company informed that in January the American private sector managed to generate up to 234,000 jobs. The given outcome definitely confounded hopes for a leap of 186,000.
Investors are currently waiting for nonfarm payrolls data to be released on Friday for extra clues on the strength of the American economy.
Gauging the US currency’s value versus a basket of six crucial assets, the US dollar index headed north 0.16% hitting 89.09.
Besides this the common currency and the British pound inched down, with the currency pair EUR/USD sinking 0.10% to 1.2400. As for GBP/USD, it dived 0.16% showing 1.4168.
The Swiss franc along with the Japanese yen tumbled too, with USD/JPY adding 0.32% to 109.53. USD/CHF gained 0.24% being worth 0.9330.
In addition to this, the currency pair AUD/USD lost 0.48% hitting 0.8017, NZD/USD dived 0.19% to 0.7349.
As the Australian Bureau of Statistics disclosed on Thursday, in December building approvals in this country went down 20.0% versus hopes for a 8% descend.
USD/CAD stood still, sticking to 1.2320.
On Wednesday, Bitcoin as well as other crypto assets managed to surge because G20 members told that digital currencies acted more like assets than traditional currencies…
On Wednesday, the major American currency was still lower versus other main currencies…
On Monday, the euro drifted away from peaks reached in the Asian session because market participants took profits from its revenues after centrist Emmanuel Macron's win over the far-right Marine Le Pen in France's presidential election…
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…