US Fed cuts could lower dollar
September 18, the oil began to fall in price against the backdrop of the Fed’s decision. We remind that oil rose after it grew on the news of the attack on oil facilities in Saudi Arabia.
The US Federal Reserve will present a decision on the interest rate and a program to combat signs of a recession in the global economy.
11:30 (GMT+3) August consumer price index released in the UK. The index was below the forecast by 0.1%, which could negatively affect the pound (GBP).
12:00 (GMT+3) the eurozone will announce the July consumer price index. A figure above 1% will be positive for the euro (EUR).
17:30 (GMT+3) the US will release a weekly report on crude oil reserves. If this week’s US reserves fell by -2.4 million, this will support oil prices.
21:00 (GMT+3) will be made by the Federal Committee for Open Market Operations and the US Federal Reserve. Analysts expect interest rates to fall by 0.25 basis points.
Oil. Oil began to fall on Tuesday. On Wednesday morning, WTI oil is $3 cheaper and $59. Brent futures have become cheaper by $4 and are trading near $64.4.
Gold. Protective metal continues to rise in price on Wednesday. In the morning, it is trading at around $1,498.
Currency. On Wednesday, the DXY dollar index is gaining 0.2% after a recent decline. In the morning, DXY is 98.4 against a basket of major currencies.
On the morning of September 18, the dollar rises against the yen. In the morning, the pair USD/JPY is trading at 108.2.
Yesterday, the euro (EUR) rose to 1.1073, but it is getting cheaper on Wednesday. In the morning, the EUR/USD pair is trading near 1.1045.
The confrontation between the Prime Minister of Great Britain and Parliament continues, due to which the pound (GBP) is losing ground. On the morning of September 18, the GBP/USD pair fell by -0.4% and is trading at around 1.2445.
Cryptocurrency. Bitcoin (BTC) is getting cheaper on Wednesday and is trading at $10,180. In the morning, Ethereum (ETH) is growing steadily by 3% and is trading near $214.2. Litecoin (LTC) is gaining 2.1% at $75.7.
(Interval one day)
Important. This article does not contain calls to make transactions or trading recommendations. Traders are responsible for decisions made on their own. The judgments presented here are the personal opinions of the author.