17 August, AtoZForex – On today’s list of daily Forex news and trade opportunities, we have the July FOMC meeting minutes scheduled for release. Along with other market movers like UK employment data and crude oil inventories.
#1 Fed Dudley on rate hikes
As market expectations for a September rate hike increases, New York Fed President William Dudley had this to say: “I think we’re looking for growth in the second half of the year that’ll be stronger than the first half. We’re edging closer towards the point in time where it’ll be appropriate to raise interest rates further.”
#2 US inflation flat
The US CPI is a measure of the price of goods and services purchased by consumers. US CPI meets expectations, the data came in flat at 0.0% as per the forecast of the market. The Core CPI m/m, however, came in lower at 0.1%, falling below the forecast of 0.2%. The USD appreciated following the release, after falling sharply before the report.
#3 BRICS shuts door to new members
Sergei Lavrov, Russian Foreign Minister stated on Monday that BRICS is not considering accepting new members despite the major international interest to the association. Recently the BRICS association was drawing a lot of attention and attracting the interest of other countries. However, the group stated that it has no intention to accept new BRICS members anytime soon.
#4 US industrial production depicts improving conditions
As seen in the latest US industrial production report, the US economy is improving. US industrial production beat forecast in July, increasing 0.7% last month after a downwardly revised 0.4% increase in June.
#5 Japan’s Economy Stalls in Q2
Concluding the daily Forex news and trade opportunities, we look at Japan’s economic situation. The efficiency of Abenomics is being questioned after the Japanese economic expansion hit a halt in April-June, due to weak exports and capital expenditure . The latest GDP showed growth flat at 0.0%, after a 0.2% expansion in the previous quarter. The slowdown puts more pressure on prime minister Shinzo Abe to administer policies that produce more sustainable growth.
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