Mail Mail Call Call Chat


U.S. Dollar Sends Mixed Messages

News Archive

2011 2012 2013 2014 2015 2016

The U.S. dollar was mixed against most major currencies on Thursday affected by Wednesday's Federal Reserve decision. The U.S. Federal Reserve kept interest rates unchanged but has hinted at a rate hike before the end of this year. The U.S. dollar index settled at 95.40 pips.

On Thursday, Gold spiked higher and settled at $1,335, thanks to Wednesday's Federal Reserve decision and weak USD. Technically, the yellow metal could settle above the support of $1,330 by the end of the week.

USD declined vs. Euro to its lowest level in a week and traded below $1.12. Technically, the pair could tread water by the end of the week.

The U.S. dollar rose slightly vs. Japanese yen on Thursday, after the U.S. Federal Reserve held monetary policy steady.

USD touched a low of ¥100.10, the lowest level in four-weeks. The greenback later pared some losses and settled at ¥101.

On Thursday, Oil prices rose as much as 2%, for a second consecutive day due to an unexpected decline in U.S. crude oil inventories and on caution ahead of a meeting of OPEC ministers and key oil producers next week in Algeria to discuss possible production and cooperation to reduce global oversupply. U.S. crude traded above $46 and could settle above such level by the end of the week.

The most important economic events:

  • CAD Consumer Price Index (YoY) (AUG): (GMT 14:30) – Important – Forecast (1.4%) – Previous (1.3%).
  • CAD Bank Canada Consumer Price Index Core (YoY) (AUG): (GMT 14:30) – Important – Forecast (2.0%) – Previous (2.1%).
  • USD Markit US Manufacturing PMI (SEP P): (GMT 15:45) – Important – Forecast (52) – Previous (52).

The prices and news mentioned in this outlook are absolutely no guarantee of future market performance and do not represent the view of ICM Capital Limited. Financial markets can move in either direction causing profits to be made or complete losses to be incurred by the trader. Each trader must decide for themselves what their risk appetite is and ensure that correct risk management procedures are in place before placing any trades.

Fund your Account

Trading CFD's or Spot FX carries a high risk to your capital and can result in losses that exceed your deposits. CFDs and Spot FX are leveraged products. Trading CFD's or Spot FX carries a high risk to your capital and can result in losses that exceed your deposits. You should not engage in this form of investing unless you understand the nature of the Transaction you are entering into and the true extent of your exposure to the risk of loss. Your profit and loss will vary according to the extent of the fluctuations in the price of the underlying markets on which the trade is based.