U.S. Dollar Dwells Ahead the U.S. Federal Meeting

U.S. Dollar Dwells Ahead the U.S. Federal Meeting

On Wednesday, the U.S. Dollar moved a little in Asia. This was when traders postponed operations ahead of a policy decision by the U.S. Federal Reserve due later in stateside.

The Fed is anticipated to cut rates for the third time in a row when it settles its two-day meeting on the Wednesday.

Meanwhile, the U.S. Dollar Index that tracks the greenback versus a basket of other currencies was little changed at 97.498.

On the other side, pressures between Beijing and Washington blow up again.

The tension was related to the U.S. and twenty-two other countries at the United Nations. It was because it has demanded China to stop impeding ethnic Uighurs and other Muslims.

China’s U.N. Ambassador, Zhang Jun, indicated that the criticism “is not helpful for having a solution to the issue of trade talks.”

In addition, “It’s hard to imagine that on the one hand, you are trying to seek to have a trade arrangement, on the other hand, you are making use of any issues, especially human rights issues, to blame the others,” he said.

U.S.-China Signing Of Phase One Trade Agreement 

Reports have also stated that U.S. President Donald Trump and Chinese President Xi Jinping may sign a stage one trade deal.

The signing may perhaps happen at the Asia-Pacific Economic Cooperation conference in Chile in November.

Last week, Trump stated that the trade contract with China was ahead of schedule. He, however, did not say further details about it.

Elsewhere, the AUD/USD pair glided 0.1% to 0.6861.

The data from the Australian Bureau of Statistics presented the country’s headline consumer price index (CPI) grew 0.5% in the September quarter.

The upsurge was in line with prospects, but it has slowed from a 0.6% gain in the preceding three-month period.

On the flip side, the Annual CPI inflation scaled by 1.7%. It has also matched expectations.

Meanwhile, the GBP/USD pair stayed near flat at 1.2862. This occurred when U.K. officials voted 438 to 20.

The voting was to hold an initial general election on December 12.

Earlier, adjustments to the bill, as well as the alternative December 9 election date, was rejected.

Moreover, there were still rejections seen, such as voting at the age of 16.

Comments Rating 0 (0 reviews)