Forex today rebounded in Asia as fears about the China Novel Coronavirus subsides. Investors instead cheered the upbeat US and Australian economic figures. Across the board, the Australian dollar emerged as the winner because of upbeat Australian CPI data that eased expectations of a pending FEB RBA rate cut. Meanwhile, both the euro and pound traded on the backfoot amid broad-based US dollar strength.

The Fed interest rate decision is the immediate focus today and could likely set the tone after its release. Steady rate policy is expected at the first meeting of 2020. Fed Chair Jerome Powell’s economic outlook for the first half of the year will also be closely watched as Fed foresees little change. Meanwhile, coronavirus updates and EU-UK Brexit trade talks will still grab some attention and impact market sentiment.

NOTE: Traders are advised to be cautious and be updated on the major economic news causing high volatility to achieve better trading results.


Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. The Bullfx (thebullfx), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

Post categories

 

Symbol Bid Ask Spread
EURUSD 1.13341 1.13359 1.8
GBPUSD 1.25988 1.26007 1.9
USDCAD 1.35003 1.35025 2.2
USDJPY 108.970 108.989 1.9
USDCHF 0.95533 0.95554 2.1
AUDUSD 0.69321 0.69343 2.2
NZDUSD 0.64462 0.64485 2.3
EURGBP 0.89954 0.89972 1.8
EURCHF 1.08290 1.08309 1.9
EURJPY 123.519 123.537 1.8
AUDJPY 75.545 75.569 2.4
GBPJPY 137.302 137.322 2
USDSGD 1.39786 1.39818 3.2
XAUUSD 1720.18 1720.35 17
XAGUSD 17.790 17.825 3.5

The above live prices are provided solely for informational purposes, not for trading purposes, and may be delayed.

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