Forex Marketz Daily Forex News – Fully Markets Update
The dollar was supported this morning during Asian trade hours and gained against most of its trading partners. The minutes of the U.S. Federal Reserve’s September meeting, released overnight, strengthened expectations that the Fed is likely to continue raising rates this year.
The dollar index, which measures the dollar against six other Forex majors, was up this morning. The index gained 0.1 percent to trade at 95.664.
The EUR/USD Forex market was trading lower as it fetched 1.1501 this morning.
The GBP/USD market was down 0.12 percent. It was trading at 1.3096 after the European Union’s chief Brexit negotiator Michel Barnier’s said that they need more time for an exit deal for the United Kingdom.
The Canadian dollar, in the USD/CAD was trading at 1.3022. The Canadian currency has now lost 1.6 percent over the last twelve trading sessions.
Looking at the USD/JPY market, the yen ended a four day win streak yesterday. The USD was up 0.65 percent. This morning, this market was trading at 112.65. The ten has lost 0.9 percent since Monday. It was at a one month high at 111.61.
Forex Traders Digest the Fed Meeting Minutes which supports the Dollar
The just released Fed policy minutes showed that every policy maker backed the last rate hike and borrowing costs could rise even more.
Rate futures are now pricing in an 83 percent chance that the central bank will hike rates in December. This data comes from the CME Group’s FedWatch Tool. Two hikes are likely for 2019.
