Today the focus is on news from the Federal Reserve. The head of the FED Jerome Powell said that in the near future they are not going to change monetary policy. The rate will remain at the current level and is unlikely to be revised. Recently investors have been expecting a decrease in the rate, taking into account the statements of Donald Trump on this issue. In addition, the market received positive news from China, where we expect a conclusion of a trade deal with the United States in a week. Taking into account this news, the price of gold fell during the day from 1277 to 1270 dollars. The USD as well as commodity currencies strengthened. The Canadian dollar, at the same time, remains under pressure due to falling oil prices.
The euro remains under pressure due to disappointing data on business activity indices, which in all EU countries, as well as in Switzerland, remain below 50 pips. In the middle of the day, the market will receive new reports on the British economy and the decision of the Bank of England about the interest rate, which will undoubtedly remain at the same level, considering the many risks for the British economy.
The afternoon will be less saturated. Only reports from the US on the number of applications for unemployment benefits, as well as on production volumes are expected.
