The Federal Reserve speeds up its quantitative tightening, and this is certainly bullish news for the USD. At the same time, this is a negative factor for the American stocks, which have entered their seasonally worst month.
US dollar: forecast for Sep. 4-8
The fundamental picture for the US currency looks rather grim. Geopolitical tensions increased as North Korea launched a missile that flew over Japan on Tuesday and claimed to have detonated a hydrogen bomb on Sunday. In addition, Trump’s Administration ordered to close 3 Russian diplomatic facilities in the United States. On the domestic front, hurricane Harvey may be the most expensive natural disaster in the US history. No big announcement on the US tax reform came from Donald Trump. Finally, US labor market figures for August brought a big disappointment. America created only 156K jobs vs. 180K expected. Unemployment rate increased to 4.4% and monthly wage growth slowed down to 0.1%.
The gold has made a perfect retest, but will it hold against the rising dollar? Also, the Jackson Hole Symposium and Jerome Powell's speech may become critical for most assets, and finally, more economic releases and earnings reports await you.
After last week's CPI turned the markets upside down, we are looking at the performance of the US dollar…
Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.
After the US CPI last week came out above the forecast, traders started expecting a 75-basis point rate hike…
In this video, we will talk about the potential change of a trend in the euro, another stock rally amid a global downtrend, gold prospects, and news that shakes the world right now. It’ll be a helpful video you don’t want to miss.