BREAKING NEWS : $500 - $5000 No Deposit Bonus Hurry up, Join Now!
Written by experienced traders and professional market analysts, our Forex technical analysis is just what you need to get an edge in your Forex trading
Advertisement roboforex

US Dollar fails to strengthen

Written by Halo Financial Team | 2017-10-12 10:47:15 GMT
  • Euro shrugs off Catalonian political troubles


    Current Market Overview

    The Federal Open Market Committee (FOMC) released their minutes and according to the report, many Federal Reserve officials saw another rate hike this year as warranted, with US stocks nearing record highs and officials don’t see the storms knocking the US economy off track. Federal Officials also saw wages rising, which should help boost future inflation. The US Dollar failed to strengthen after the minutes, as instead the market focused on the wording “many officials were concerned that the low inflation is not transitory” and thought a prudent path would be to show patience and delay rates hikes until inflation ticks higher. US Retail Sales and Inflation figures will be released on Friday and will be watched closely in order to determine the future Federal Reserve interest rate path.  In addition, the situation with North Korea is likely to worsen in the coming days which could see a USD sell off, as North Korean foreign minister said Donald Trump has “lit the wick of a war.”
    The best performing currency yesterday was the Euro, which completely shrugged off Catalonian political troubles. Investors appear to like the Spanish Prime Minister Rajoy’s firm response to the region for independence, as illegal and a violation of the constitution. Spain’s PM gives Puigdemont until Monday to clarify whether he has declared independence under article 155. Declaring independence could see the Spanish Government rescind their political autonomy. The main event for the Euro will be European Central Bank (ECB) President Draghi’s Speech today at 3.30 PM. PM Draghi is due to participate in a panel discussion about monetary policy. Many analysts believe the ECB is gearing up to announce a reduction of stimulus at the end of the month, as a result, a less hawkish tone could see the Euro being sold off.
    There were no UK economic reports released yesterday and no tier one data being released between now and Tuesday, so the GBP is likely to get its cue from further Brexit discussions. The markets are still pricing in a 75% chance of an interest rate hike in November and an 80% chance of a hike before the end of the year. Many analyst believe that even if the UK does raise rates, it will be a case of ‘one then done’, which will only be reversing the Bank of England’s pre-emptive rate cut after the Brexit announcement.



    Halo Financial Team

    Start Trading With Top Industry Brokers

    Broker Profile Open Account
  • Minimum Deposit: 5 USD
  • Leverage of up to 1:888
  • Broker Type : Market Maker
  • Regulation : CySEC,ASIC ,FCA
  • xm
  • Minimum Deposit: 100 USD
  • Leverage of up to 1:500
  • Broker Type : Market Maker
  • Regulation : CySEC
  • Markets
  • Minimum Deposit: 250 USD
  • Leverage of up to 1:200
  • Broker Type : Market maker
  • Regulation : CySEC
  • trade

    The Best Crypto to Crypto

    Exchanger Advantages Open Account
  • Safety Stability: Multi-tier & multi-cluster system architecture
  • Binance charges a quite low commission fee
  • Multiple-Coin Support : BTC, ETH, LTC, BNB...
  • High Liquidity
  • Multiple-Language Support
  • binance
  • Instant cryptocurrency exchange
  • More than 500,000 satisfied users
  • Changelly charges a quite low commission fee
  • Safety Stability
  • changelly
  • Bitmex - Bitcoin Mercantile Exchange is a cryptocurrency derivatives trading platform.
  • Bitmex charges a quite low commission fee
  • Safety Stability
  • changelly

    Best Brokers to Trade Crypto

    Broker Profile Open Account
  • Offer: 30 USD No Deposit Bonus - 50% Deposit Bonus
  • Minimum Deposit: 5 USD
  • Leverage of up to 1:500
  • Broker Type : Market Maker
  • Regulation : CySEC,ASIC ,FCA
  • XM
  • Offer: 50USD No Deposit Bonus
  • Offer: 100% Deposit Bonus
  • Minimum Deposit: 1 USD
  • Leverage of up to 1:500
  • Broker Type : Market Maker
  • Regulation : CRFIN (Russia), 009069697 IFSC (Belize), IFSC/60/230/TS/12
  • FBS
  • Offer: 1000USD Deposit Bonus
  • Minimum Deposit: 50 USD
  • Leverage of up to 1:400
  • Broker Type : STP
  • Regulation : ASIC, 335692 CFTC/NFA, 0382918 CySEC, 109/10
  • eToro

    Contact us