(CercleFinance.com) – Forex traders are ramping up their purchases of $ ahead of the minutes (‘minutes’) of last month’s Fed monetary policy meeting (FOMC) and the day before inflation figures in the US.
The ‘$-Index’ takes +0.3% towards 102.85, with the clearest progression against the Yen (+0.7% towards 149.25), against the Swiss Franc (+0.4% to 0 .8600) then the Euro with +0.35% towards 1.0940.
The ‘minutes’ expected this evening should not contain any big surprises, and in any case, FED specialists are more than 90% convinced that rates will not fall by more than 25 points at the beginning of November, given the strength of the market of work.
‘There is no debate on the direction of the policy (easing), but on the speed of the adjustment’, Oddo BHF specified at the start of the week, estimating that the minutes of the last FOMC ‘will perhaps give clarification on this point.
The Euro is not benefiting from the improvement in the German trade balance with a surplus of €22.5 billion compared to the expected €19 billion).
Oil lost -1.8% to $76 despite the arrival of Cyclone Milton because weekly oil stocks were up, before the closure of several installations due to imminent bad weather.
Economic activity in the South of the United States could remain disrupted for several days and this will affect the entire country… and fuel prices could rise.
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