During the Asian session, USD is falling against to most majors. After a slight increase on Tuesday, caused by positive statistics on construction in the US, the US currency began to decline as part of a technical correction. The main macroeconomic event of the day for the instrument will be the Fed's decision on the interest rate, as well as the subsequent FOMC statement. The rate is expected to rise to 2.50% from the current 2.25%. However, the main issue is the possibility of maintaining the pace of the gradual rate increase program. Due to the current economic situation, as well as to the pressure of Donald Trump's administration, the Fed may slow down monetary policy tightening.
The EUR/USD pair rose to 1.1383 during the Asian session. In the absence of news from euro area, the movement of the instrument will be influenced by the statistics from the United States.
The rate of the pair GBP/USD shows moderate growth during the Asian session having reached 1.2670. Today, traders are waiting for data on the consumer price index in the UK. It is expected that on a monthly basis, the value of the indicator will rise to 0.2% in November from 0.1% a month earlier, and on an annualized basis it will drop to 2.3% in November from 2.4% a month earlier.
The pair USD/JPY dropped to 112.30 due to the general weakening of USD. Statistics released at night from Japan indicated an increase in the negative trade balance to –737.3 billion yen in November against –450.1 billion a month earlier, but had no effect on the instrument.
The rate of AUD/USD rose to the level of 0.7194. Against the background of the absence of macroeconomic releases from Australia, the movement of the instrument's rate is of a technical nature.
Due to the general weakening of USD, gold quotations increased to 1250.00.
The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.