Market expects slowed US rate hikes in December
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GBP/USD 🔼
AUD/USD 🔽
USD/CAD 🔼
USD/JPY 🔽
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Both the Federal Reserve and the Bank of England are to announce their interest rate decisions tomorrow, while sharing the same 75 basis points forecast. Upon some weakened economic indicator readings, Mitrade expects the two central banks would slow down on the rate hike next month.
As a result, the greenback has also put the brakes on its peers, EUR/USD closed lower at 0.9874, just recovered to 0.9885, and GBP/USD added slightly to 1.1483. Yesterday, the Reserve Bank of Australia raised rates by 25 basis points to 2.85%, aligning with market projections.
USD/CAD rebounded to 1.3629, and USD/JPY declined and closed at 148.28.
Upon raising hopes for China to re-open its cities and factories, WTI oil futures increased to $88.37 a barrel. Later tonight, the US Crude Oil Inventories are estimated to add 367,000 barrels. Gold price climbed to $1,647.8 an ounce, after reaching a high of 1,655.14.
GBP/USD 🔼
AUD/USD 🔽
USD/CAD 🔼
USD/JPY 🔽
XAU 🔼
WTI 🔼
Both the Federal Reserve and the Bank of England are to announce their interest rate decisions tomorrow, while sharing the same 75 basis points forecast. Upon some weakened economic indicator readings, Mitrade expects the two central banks would slow down on the rate hike next month.
As a result, the greenback has also put the brakes on its peers, EUR/USD closed lower at 0.9874, just recovered to 0.9885, and GBP/USD added slightly to 1.1483. Yesterday, the Reserve Bank of Australia raised rates by 25 basis points to 2.85%, aligning with market projections.
USD/CAD rebounded to 1.3629, and USD/JPY declined and closed at 148.28.
Upon raising hopes for China to re-open its cities and factories, WTI oil futures increased to $88.37 a barrel. Later tonight, the US Crude Oil Inventories are estimated to add 367,000 barrels. Gold price climbed to $1,647.8 an ounce, after reaching a high of 1,655.14.