The US dollar gave up ground to its major counterparts in recent FX
trading, as traders booked profits off their trades ahead of the FOMC
statement today. Data from the US was mixed, with the CB consumer
confidence figure improving from 93.1 to 102.9 and new home sales data
showing an increase from 431K to 481K. Durable goods orders were weaker
than expected. The Fed is likely to repeat its previous statement in
saying that interest rates might stay low for a “considerable time” and
that they “can be patient” in considering policy normalization. Hawkish
remarks could drive the dollar higher while dovish comments could lead
to a selloff.
The euro continued to recover against its FX trading rivals, as traders are waiting to see what’s next for the region. There were no reports released from the euro zone then while today has the German GfK consumer climate figure due. The reading could improve from 9.0 to 9.2, which could keep the shared currency supported.
Read more at Click Here / www.trade4x.net
The euro continued to recover against its FX trading rivals, as traders are waiting to see what’s next for the region. There were no reports released from the euro zone then while today has the German GfK consumer climate figure due. The reading could improve from 9.0 to 9.2, which could keep the shared currency supported.
Read more at Click Here / www.trade4x.net
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