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Dollar is retreating in the opening of weekly trading and is awaiting the Fed position

2019-01-07 08:19 am | Resource: News | No Views : 90



 US dollar fell ahead of the minutes of the Federal Reserve meeting in December and the speech of Federal Reserve Chairman Jerome Powell.

Last month, the Federal Reserve voted to raise interest rates for the fourth time in 2018, noting that further interest rate increases were likely this year. While investors will look carefully at the record, they are likely to be dated after Federal Reserve Chairman Jerome Powell's remarks last Friday.

In another context, traders expect the possibility of ending the crisis of government closure in the United States since late last year after Nancy Pelosi won the House of Representatives and vowed to end the government closure

 Vice President of the International Monetary Fund: The world is not ready for the next recession

The IMF's first deputy director-general, David Lipton, warned that the world is not prepared to deal with the next recession "somewhere in sight." "The next recession is somewhere on the horizon, and we are less willing to deal with this than we should be," Lipton told the Financial Times. "[And] less prepared than the last crisis in 2008."

Lipton said, "China is clearly slowing down" and that growth prospects in Asia are being undermined by the loopholes of a trade-stress policy. "We believe that China's growth must slow down, but keeping it slowing down in a dangerous way is an important goal," he said.


Dollar Trading
  •  The Dollar Index, which tracks the greenback against a basket of other currencies, fell 0.2% to 95.523.
  • The euro was up 0.13% against the dollar to trade at 1.1417 at 8:09 am CET,
  • While the pound saw slight changes against the US currency, heading towards 1.2745 at the same time.
  • The Australian dollar was up against its US counterpart by 0.3% to trade at 0.7139
  • Meanwhile, the USD / JPY pair dropped 0.4% to 108.15 at 11:13


Other analysis

Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 26 March 2019

Time frame Used - four hours The USD/JPY is moving in a sideway direction in the near term. The bears were able to control the USD/JPY movement after the Fed decided to set the US interest rate to hit  at 109.72. In view of the technical indicators Both the RSI and the Stochastic are indicating the arrival of indicators to the oversold area. Therefore, we expect that the USD/JPY will…

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