In today's US Dollar report, we look at how the meeting minutes released today could affect the Dollar, and take a look at the ongoing investigation into collusion between Trump's election campaign and Russia. The below table shows the difference you could have achieved when buying £200,000.00 during the high and low points of the past month.
|Currency Pair||% Change||Difference on £200,000|
Today, the most anticipated release this week for the US Dollar will be released in the form of the minutes from the Federal Reserve meeting in January.
Although there was no change to the interest rate, the Federal Reserve did upgrade its inflation outlook, which means that today’s minutes could be hawkish with regards to the interest rate hikes planned this year. Strong wage growth figures and inflation data released since the meeting in January has prompted investors to think that the Federal Reserve is very close to raising interesting rates. If this is revealed today, I would expect the dollar to gain against most if not all currencies.
Robert Mueller has accused Dutch lawyer Alex Van Der Zwaan of making false statements about his contact with ex-trump campaign aide Rick Gates.
So far, the Mueller indictment shows that the Russians may have swung the US election, which is potentially damaging to President Donald Trump. President Trump’s former national security advisor and campaign chairman Paul Manafort have already been charged. President Donald Trump has denied on numerous occasions that there is any collusion between his campaign and Russia.
Tomorrow’s employment data is expecting to be tight, with no change anticipated, if the release does deviate then the dollar’s value is likely to fluctuate. The strong labour market in the US has helped support interest rate hikes in the US in recent times.
There are also a key number of Federal Reserve members due to give talks between now and Friday.
For more information on how future data releases could affect your currency requirement, call our trading floor on 01494 725 353 or email me here
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