fxs_header_sponsor_anchor

Analysis

Will the FOMC strengthen the Dollar again?

Important news for the day

  • Wed, 21st, 20:00 CET            US        FOMC Minutes.

Risk sentiment

Will the FOMC Minutes, which are being released today, surprise markets? The US- Dollar remains on the weak side as the Fed is expected to cut rates in September. However, technical indicators could offer further upside potential helping the Greenback to gear up steam again. On the fundamental front potential hawkish signs from the Minutes might cause the Dollar to regain some strength in the short term then. Open positions against the USD should hence be eyed cautiously before the news.

Market talk

Oil markets remain weak after stockpiles have increased. The slightly negative outlook on the economy also causes the demand to be weak. On the other hand equities rise and most indices are trading near their all- time highs. Bitcoin remains in a sideways pattern and in order to move higher the USD 60.000 level needs to be crossed. Precious metals are able to move higher as well. Further potential might be expected. Silver is showing some signs of a potential short- term retracement. In general the JPY currently remains on the weaker side. Should further comments in regards to future rate- cuts from the BoJ follow the Yen might resume its upside again.

Tendencies in the markets

  • Equities positive, USD weak (watch FOMC), cryptos positive, oil weak, metals positive, JPY weak.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.