The FOMC meeting minutes cause another slip in the USD. While many Fed officials agreed that it was time for another rate hike in the coming months, many issued concern that low inflation wasn't a temporary phenomenon.However, the Fed did outline plans for raising rates again in December, as well as three times next year. During today’s London session, Bank of England Credit Conditions & Bank Liabilities Surveys will be out at 8:30 AM GMT to shake the GBP crosses. Euro-Zone Industrial Production will be next at 9 AM, followed by Canada’s New Housing Price Index and the US weekly jobs report at 12:30 PM GMT. ECB President Draghi participates in a panel in Washington which could create volatility in the EUR crosses. Thanks for watching, invest responsibly, and I wish you the best of luck making pips by trading forex.


For more from Invest Diva, click here

HIGH RISK Investment Trading forex (also known as foreign exchange or currencies) on margin carries a HIGH LEVEL OF RISK, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, risk appetite, and the amount of your expendable income. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should ONLY invest money that you can afford to lose! You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Forex Diva Trading Opinions Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and education, and does not constitute advice. Forex Diva will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Recommended Content


Recommended Content

Editors’ Picks

GBP/USD rises to near 1.2540, driven by higher UK GDP

GBP/USD rises to near 1.2540, driven by higher UK GDP

GBP/USD edged higher to near 1.2540 during Asian hours on Friday, buoyed by the release of higher-than-expected UK Gross Domestic Product (GDP) data for the first quarter.

GBP/USD News

EUR/USD: The crucial resistance level will emerge at the 1.0790–1.0800 region

EUR/USD: The crucial resistance level will emerge at the 1.0790–1.0800 region

The EUR/USD pair trades on a softer note near 1.0775 during the early European hours on Friday. The downtick of the major pair is supported by the renewed US Dollar demand amid hawkish comments from Federal Reserve officials. 

EUR/USD News

Gold price attracts some buyers despite hawkish Fedspeak

Gold price attracts some buyers despite hawkish Fedspeak

Gold price edges higher for the second consecutive day on Friday. Weak employment data bolstered the speculation that the weakening economy would force the Fed to cut rates.

Gold News

Ethereum waiting on a bullish trigger, Consensys CEO takes a jab at the SEC

Ethereum waiting on a bullish trigger, Consensys CEO takes a jab at the SEC

Ethereum co-founder alleges that the SEC aims to stifle innovation through its enforcement actions against Ethereum-related companies. Grayscale CEO says he's optimistic the SEC would approve its spot ETH ETF application.

Read more

Rate cut optimism fuelled by higher US jobless claims

Rate cut optimism fuelled by higher US jobless claims

With Federal Reserve policy acting as the primary driver of investor sentiment in 2024, renewed optimism surrounding the possibility of rate cuts has propelled the Dow to its most significant rally since December. 

Read more

Majors

Cryptocurrencies

Signatures