The dollar could not maintain its strong initial impulse, ending the day with just a slight change compared to Monday’s closure levels. Meanwhile, investors remained attentive to the events in the commercial front after President Trump revived the concerns after tariffs to Japan and South Korea. Looking ahead, FOMC minutes are expected to be the focal point of attention.
This is what you have to observe on Wednesday, July 9:
The US dollar index (DXY) advanced at maximum of several days, approaching the obstacle of 98.00 in the middle of the increase in US yields. The publication of the FOMC minutes occupies the center of the stage, seconded by the weekly mortgage requests of the MBA and the EIA report on the inventories of crude oil in the USA.
The EUR/USD recovered from its negative start in the week and stabilized above the 1700 barrier. LANE and GUIDOS of the ECB are scheduled to speak in the middle of an empty Euro agenda.
The GBP/USD sailed in a volatile range, going down to new two -week minimums just to recover impulse and finish the day around the neighborhood of 1,3600. The BOE financial stability report will be in the center of the debate on the other side of the channel.
The USD/JPY added to the profits on Monday and rose to new maximums of several weeks near the 147.00 barrier. Machinery orders will be the outstanding event in Japan.
The unexpected hard line posture of the RBA provided support to Aussie, promoting the aud/USD above the level of 0.6500 after three consecutive days in red. Final construction permits and private housing approvals are expected, seconded by the speeches of Hauser and Hunter of the RBA.
WTI barrel prices rose to monthly maximums near the level of $ 69.00, backed by the prospects for greater demand and lower production in the US.
Gold prices remained down around the 3,300 $ region per Troy ounce while investors continued to evaluate news from the commercial front, while the firm dollar and increased yields also weighed on the precious metal. The prices of silver, meanwhile, joined the back of Monday, settling below the level of 37.00 per ounce.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
