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The dollar acted low on Monday. However, the dollar goes high today. The investors are waiting for the speech of Ye-Lun who is the president of FED.
The trend of USDX increased 0.3% to 95.073. Euro fell to 1.1576 dollars. It was very close to the lowest point since the end of July. It ended at 1.1610 on Monday. The dollar rose to 114.27 Japanese Yuen. It is the highest point in the six months. It ended at 113.71.Therefore, brisbane foreign exchange market got the same numbers.
The crude oil prices increased to the highest point in the two years. In addition, the products currency went high as well. However, the products currency fell back today while the dollar turn to high. Keep update the latest news of brisbane foreign exchange market. The president Ye-Lun who is going to no longer hold the post accepted the awards by the government today. The investors will pay attention to if he is going to talk about the currency policy. Furthermore, the market is acting like they might make the interest rate higher in December.
COE of BOE Draghi talked about the bank supervision earlier today. Euro zone announced that the retailing selling is higher than the expectation in September. However, euro is still facing some pressures.
Analysts said the exchange market is now reacting to the American Hawks’ currency policies slowly. Although FED is very careful about the economic outlook, it seems they are on the road of reduce. Meanwhile, the policies are much more careful in the other central banks of the seven. The decision would affect to brisbane foreign exchange rate. The numbers in Euro Zone are mostly better than the expectation. However, Euro exchange to dollar still fell to the lowest point in the four months today.
The analysts said BOE mentioned the quantitative easing program would extend at least 9 months since January last week. On the other side, the amount of assets purchased each month is reduce to 30 billion euros. After the news, euro continuing facing the pressures. Analysts said if the euro rose and exceeded 1.1615 US dollars in the short term, it will be a rally. However, if the downtrend continues, then the next target is at $ 1.15 psychological level. It’s same like brisbane foreign exchange rate.
The dollar has been rising slowly in the recent two months. Although the market still has the long-term voice of singing the U.S. dollar. BNP Paribas believes that the rebound of the U.S. dollar since the autumn has not stopped yet. In the future, there will be a tax cut. Moreover, a reform and an interest rate hike. They expected dollar the rally is expected to continue until the end. Check cheapest brisbane foreign exchange rate value currency exchange right now! Contact us!
Daniel Katzive is the head of North American foreign exchange strategy at BNP Paribas. He said that the previously bearish dollar has seen a marked improvement in the atmosphere. Moreover, despite the potential exhaustion of the dollar’s short covering, the foreign exchange position analysis of the bank shows. It shows that there is still an increase in the U.S. dollar long position Space.
Katzive added that the previous summer’s decline in the U.S. dollar was mainly due to the low probability of the market expects. They expects further rate hikes by the end of the year. Furthermore, forex traders believe the betting ahead of low inflation. As well as some bad economic data by the end of 2017 Interest rate policy will be on hold. It would be a trend to brisbane foreign exchange.
Due to the Federal Reserve meeting in November to continue to weaken the weak inflation data. Fubas Bank forecast FOMC (Federal Open Market Committee) in December will raise interest rates by 25 basis points. In addition, they will continue to raise interest rates next year 3 times.
In addition, the dollar surge was also motivated by the tax reform. With the Trump administration and the opposition reaching an agreement. They try to prevent the government from stalling by the end of the year. Moreover, gaining some Republicans’ support for its tax reform to give the market. It optimism that the White House may be able to achieve its agenda. Trump and brisbane foreign exchange market is undividable.
Katzive believes that the subject of tax reform has not yet fully developed. It is estimated that the tax reform will be 65% likely in 2018. As the tax reform progresses, the trend of the U.S. dollar should be supported.
Katzive and his team forecast that the euro will fall against the U.S. dollar to 1.1400 in the coming weeks. However, in the year-end estimate is at around 1.1500. Check the number of brisbane foreign exchange.
Compared to Fawcet optimistic about the dollar forecast. The current market bearish noise is still high. Morgan Stanley, Deutsche Bank and Bank of America all believe that the dollar rally is coming to a close because the bullish news on tax reform has been reflected. The market ignores the risk that the tax reform will really cross the border and will eventually return to a bear market. The market of brisbane foreign exchange.