Market News

Asian session traders caught up to their U.S. counterparts and priced in a not-so-hawkish FOMC statement. Meanwhile, the Aussie was dragged lower by a weak jobs report.

The main event for the New York session turned out to be a huge downer for the dollar as bulls had been hoping to see more hawkishness.

The U.S. Federal Reserve raised interest rates on Wednesday and forecast at least two more hikes for 2018, highlighting its growing confidence that tax cuts and government spending will boost the economy and inflation and spur more aggressive future tightening.

President Donald Trump will likely announce tariffs on Chinese imports by Friday, a source in the administration said, as the top U.S. trade diplomat told lawmakers he had the tools to strike back over Chinese theft of U.S. tech know-how.

The United States will consider re-entry to the Trans Pacific Partnership once Washington accomplishes its goals on other trading relationships, U.S. Treasury Secretary Steven Mnuchin said while on an official visit to Chile on Wednesday.

U.S. home sales surged in February, boosted by hefty gains in the South and West regions, but a chronic shortage of houses on the market remains an obstacle heading into the spring selling season.

Oil rose for a second day on Wednesday, nearing its highest in six weeks after a surprise decline in U.S. inventories and as concern persisted over possible disruption to Middle East supply.

Lots of themes were playing out during the session, with GBP demand being the most notable. Other noteworthy themes include USD weakness ahead of the FOMC statement, as well as lack of love for AUD and NZD.

European shares edged lower on Wednesday, with investors cautiously awaiting the conclusion of a U.S. Federal Reserve meeting for signals on the pace of expected interest rate rises.

How y’all doing, forex friends! If you’re lookin’ to pillage some quick pips from the Loonie, then heads up because Canada will be releasing its retail sales and CPI reports on Friday. And I just so happen to have Event Preview for both of ’em.

It was a relatively quiet session with Japanese traders out on holiday, so forex traders mostly prepared for the Fed and RBNZ’s statements.

A hush settled over financial markets on Wednesday as investors counted down to a likely hike in U.S. interest rates and guidance on how many more to expect this year, while trade war fears kept export nations’ currencies on edge.

The Greenback was in a pretty good mood a day ahead of the FOMC decision while the Loonie drew some support from Canadian wholesale sales and higher crude oil prices.

The dollar rose to a nearly three-week high against a basket of major currencies on Tuesday, as investors awaited clues from the Federal Reserve on its outlook for the U.S. economy and how many interest rate increases it may embark on in 2018.

The Greenback came out on top after barely edging out a win against the Aussie and the Kiwi. The pound, meanwhile, came under pressure after the U.K.’s latest CPI report failed to impress. The pound wasn’t the biggest loser of the session, though.

Oil rose on Tuesday to its highest level so far this month, lifted by tension in the Middle East and the possibility of further falls in Venezuelan output.

Australia’s labour market numbers have the tendency to influence the Aussie’s daily or weekly trends. How can you take advantage of this week’s release?

With not a lot of top-tier reports on deck, Asian session forex traders focused on pricing in yesterday’s headlines and this week’s upcoming catalysts.

Group of 20 finance leaders will likely reflect many members’ concerns over “inward-looking” policies like protectionism in a communique to be issued on Tuesday, Japan’s vice finance minister Minoru Kihara said.

Sterling extended its gains on more signs that the U.K. and E.U. are starting to see eye to eye when it comes to the post-Brexit transition and the Irish border issue ahead of the summit later this week.