Important Events for Today

Today we have the appointment of the new Fed chief and a decision on the change in interest rates in the US.

Economic News
02. 11. 2017
Important Events for Today

Since the beginning of the Asian session the dollar continues to strengthen its position. Data was released yesterday with the decision of the Federal Reserve to leave the interest rate unchanged at 1.25%. Investors were well-prepared for this and the dollar continued to trade in a positive territory against major currencies. Today we expect Donald Trump's announcement of a new Fed chief, who most likely will be the current Fed governor Jerome Powell. The activities of the current Fed chief Jannet Yellen have been praised by the President as "excellent," but this is unlikely to serve as a reason to appoint her to the post again.

One of the highlights of today will be the speech of the Bank of England and the announcement of changes in interest rates. In case of tough statements from the representatives of the Bank of England we should expect growth in the British currency. It is possible that the Bank of England for the first time in 10 years could raise its key interest rate from 0.25 to 0.5%, since the level of inflation is near 5-year highs at the level of 3%. The market shows a 90% probability of the first estimates of the probability of a rate hike. If this does not happen, the British currency will continue to decline. In addition, forecasts regarding the economy and inflation will be published today. During the release of the news we expect increased volatility.

SuperForex
Markets Daily Overview

Economic News

Markets Daily Overview

A brief look at today's most important financial news.

SuperForex
01. 11. 2017
The Dollar Continues to Strengthen

Economic News

The Dollar Continues to Strengthen

Brent crude oil traded above $61 per barrel.

SuperForex
01. 11. 2017
Oil Prices Update

Economic News

Oil Prices Update

The price of oil reached 2-year highs last week, but now prices are consolidating.

SuperForex
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