Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. If the Fed do ‘proceed carefully’ when looking at any additional rate hikes, as chair Powell remarked at last month’s Jackson Hole Symposium, then further hikes will be very data dependent.įor all market-moving data releases and economic events see the real-time DailyFX calendar
#Breaking headline news driver
The Fed is fully expected to leave interest rates untouched but the language used by chair Powell will likely be the main driver of any price action.
The Federal Reserve will announce its latest policy decision next Wednesday and explain its decision further at the press conference afterward. US Dollar (DXY) Daily Price Chart – September 13, 2023 Resistance is seen between 105.35 and 105.48. Neither of these is likely to hold a concerted push lower. The greenback is closer to support and a break lower would open the way to 104.10 (20-dsma) and then 104.00 big-figure support. The US dollar is flat and stuck in a short-term trading range between 105.13 and 104.43.
GBP Breaking News: UK Growth Contracts Leaving the Pound on Offer GBP/USD continues to change hands around 1.2470, marginally higher on the session after a weak GDP report earlier today fueled fears that the UK economy is stagnating. The US dollar barely moved on the release with a range of dollar-pairs brushing off the release.
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