The US cut interest rates by 0.25% for the second time this year, to a range of 1.75 to 2 percent and signaled that it might not stop there despite uncertainty over trade and pressure from the White House.
U.S president Donald Trump has asked the Treasury department to substantially toughen economic sanctions on Iran, in response to a strike against Saudi Arabian oil facilities, which cut more than half the kingdom’s production.
Stocks recovered most of their losses by the end of trading, erasing an afternoon selloff after the Federal Reserve cut its interest rate for the second time in two meetings.
Oil prices fell after U.S inventory built for the first time in four weeks, but losses were minimal on news that the U.S was aiming to build a coalition of European and Arab partners to deter Iran after an attack on Saudi Arabia.
EUR/USD After the rate cuts that gave the USD a boost, the pair weakened and traded closer to 1.10.
AUD/USD fell to 0.6825 post Federal Open Market Committee announcement, before retracting to 0.6830 ahead of Australian employment data.
Gold slipped after the federal reserve executed an anticipated rate cut that boosted the U.S dollar.
|Server Time||HK Time||Currency||Description||Expectation|
|10:30||15:30||CGF||SNB Monetary Policy Assessment||-|
|11:30||16:30||GBP||Retail Sales m/m||-0.2%|
|14:00||19:00||GBP||Official Bank Rate||0.75%|
|15:30||20:30||USD||Philly Fed Manufacturing Index||10.9|
Trading margin FX and CFDs carries a high level of risk and may not be suitable for all investors. The possibility exists that you may lose more than your initial investment.
The information contained in this website is of general nature only and does not take into account your objectives, financial situation or needs. You are strongly recommended to seek independent financial advice before making any investment decisions. MBG Markets accepts no liability whatsoever for any direct, indirect or consequential loss and/or damage of any form arising from any use of this report.
Please ensure that you read the Terms and Conditions and Product Disclosure Statement (PDS), and fully understand the risks involved before deciding to acquire any of the financial products listed on this website.
MBG Markets specifically prohibits the copying, reproduction, redistribution and/publishing of this material for any purpose in whole or in part without the prior written consent of MBG Markets.