- Analytics
- News and Tools
- Market News
- European session review: USD weakens ahead of Fed's monetary policy announcement
European session review: USD weakens ahead of Fed's monetary policy announcement
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 06:00 | United Kingdom | Retail Price Index, m/m | August | 0.5% | -0.3% | -0.3% |
| 06:00 | United Kingdom | Producer Price Index - Input (YoY) | August | -5.7% | -4.9% | -5.8% |
| 06:00 | United Kingdom | Producer Price Index - Input (MoM) | August | 1.8% | 0.3% | -0.4% |
| 06:00 | United Kingdom | Producer Price Index - Output (YoY) | August | -0.9% | -0.7% | -0.9% |
| 06:00 | United Kingdom | Producer Price Index - Output (MoM) | August | 0.3% | 0.2% | 0.0% |
| 06:00 | United Kingdom | Retail prices, Y/Y | August | 1.6% | 0.6% | 0.5% |
| 06:00 | United Kingdom | HICP ex EFAT, Y/Y | August | 1.8% | 0.9 | |
| 06:00 | United Kingdom | HICP, m/m | August | 0.4% | -0.6% | -0.4% |
| 06:00 | United Kingdom | HICP, Y/Y | August | 1% | 0% | 0.2% |
| 09:00 | Eurozone | Trade balance unadjusted | July | 20.2 | 27.9 |
USD depreciated against other major currencies in the European session on Wednesday as investors awaited the announcement of the Federal Reserve’s monetary policy meeting (due at 18:00 GMT) and a press conference of its Chairman Jerome Powell (due at 18:30 GMT).
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, dropped 0.16% to 92.90.
The Fed is widely expected to leave its key interest rates and reaffirm its new, more tolerant stance on inflation, which was introduced by Chairman Powell in August and implies that rates will be kept low for a longer period.
Investors will also pay close attention to the Fed officials’ fresh economic projections. The policymakers are likely to acknowledge the latest improvements in the U.S. economy, particularly in employment, wages and business activity, but remain cautious in their new growth forecasts, reiterating that the road to recovery will be long and bumpy.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
