The dollar fell after major currencies sleeves Fed Minutes
2019-01-10 08:12 am | Resource: News | No Views : 105
US dollar fell on Thursday after the Federal Reserve said in its December meeting that it was ready to stop raising interest rates amid concerns about global growth and inflation, and the Federal Reserve raised its benchmark rate to a range of 2.25% And 2.5% at last month's meeting,
The most important points of the meeting of the Fed
- Some central bank members wanted to keep monetary policy unchanged in December, coinciding with volatility in financial markets.
- The meeting's participants pointed out that Fed officials preferred the need for the central bank to adopt a policy of "patience" in raising interest rates gradually.
- Fed officials also showed optimism about economic growth in the United States, pointing to a small impact of the volatility of financial markets on the economy.
Stocks close higher after Fed announcement
- The Dow Jones Industrial Average rose 0.8% or 195 points to 23983 points at the close
- The Nasdaq rose (+ 88 points) to 6985 points.
- While the Standard & Poor's 500 Index (+ 19 points) rose to 2594 points.
In terms of trade negotiations with China, China's Ministry of Commerce on Thursday praised the results of the trade talks this week with the United States, noting that it "laid the foundations" for solving the ongoing trade war between the two countries.
The two sides looked at the solutions to trade disputes and issues raised by the United States with regard to the access of their companies to China and the protection of intellectual property. Investors were skeptical about the outcome, with authorities in Washington getting Canada to become vice president of Huawei Meng and Enzo for alleged violation of sanctions against Iran and Syria.
The US dollar traded against the major currencies
- The dollar index, which measures its performance against a basket of major currencies, fell 0.8% to 94.7 points.
- The euro traded higher against the dollar as it settled at 1.15404 at the time of writing.
- The pound also rose against the dollar at $ 1.2761.
- The yen also gained against the dollar as the pair traded at 107.93.
- Against the Canadian Dollar, the Dollar traded at 1.3244 levels.
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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