By Jay and Julie Hawk of www.TheFXperts.com
The U.S. Dollar Index (DXY) was slightly lower today despite optimism after the positive conclusion of U.S.-China trade talks. The index currently lies at the 95.06 level, down just -0.09% on the day. Also, the FOMC Meeting Minutes for the latest meeting stated that the central bank’s policy path was “less clear” and that it could “afford to be patient about further policy firming”.
Elsewhere, the Japanese Yen rallied on risk aversion while the Canadian Dollar rose after the BOC left the Overnight Rate unchanged at 1.75%. Also out today were Australian Building Approvals, which declined by -9.1% m/m, which was significantly lower than the -0.3% expected. Also, Japanese Average Cash Earnings printed at +2.0% compared to an expectation of only +1.3%.
Looking ahead, Thursday’s highlights include the ECB Monetary Policy Meeting Minutes and a speech by U.S. Fed Chair Jerome Powell. The week concludes with Friday’s release of Australian Retail Sales (+0.3%), UK GDP (+0.1%), UK Manufacturing Production (+0.4%), U.S. Core CPI (+0.2%) and U.S. CPI (-0.1%).
TheFXperts’ Forex MarketWatch Reports are provided strictly for educational purposes and represent the opinions of the authors. No recommendation or endorsement for specific financial trading or investment purposes is offered. Subscribers are advised to seek financial, business and legal guidance from licensed professionals.Visit TheFXperts’ official website at www.TheFXperts.com. You can also view and purchase Jay and Julie Hawk’s six financial books at Jay’s Amazon author page here: amazon.com/author/Jayhawk