
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
On Tuesday, the major Chinese currency managed to head north versus the evergreen buck after a report that American Treasury Secretary Steven Mnuchin had proceeded with negotiations with China Vice Premier Liu He.
On Monday, the Wall Street Journal informed that Mnuchin and Liu He had a telephone conversation the previous week.
What’s more, the WSJ stressed that the talk didn’t end up with any breakthrough as to trade conflict between the two leading economies.
American leader Donald Trump is expected to meet his Chinese President Xi Jinping later this month at the Group of 20 nations summit.
In addition to this, on Tuesday, Reuters informed that major state-owned Chinese financial institutions have been caught selling the American dollars in onshore spot foreign exchange market at about 6.97 CNY/USD for the purpose of stemming the Yuan dive.
As a matter of fact, the currency pair USD/CNY headed south by 0.14% being worth 6.9551.
As it has been reported, the People's Bank of China set the national currency reference rate at about 6.9629 in contrast with Monday's reading of 6.9476.
Moreover, the Japanese yen, which has a reputation of a reliable safe-haven asset, slipped versus the evergreen buck notwithstanding a tech-led dive on Wall Street overnight.
The currency pair USD/JPY managed to jump by 0.14% hitting 114.00. Resumed US-China trade optimism was considered to be the catalyst for the selling in Japan’s currency.
Estimating the evergreen buck’s purchasing potential against its primary peers the USD index went down by 0.2% reaching 97.35.
As for the currency pair GBP/USD, it has been diving for a third day due to the fact investors waited to see if British Prime Minister Theresa May would have her Brexit plan ditched, while the common currency sank to 16-months minimums in the face of greater fears on Italy’s budget.
AUD/USD and NZD/USD rallied by respectively 0.6% and 0.5%.
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
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