Tuesday, October 31, 2017

Forex News Feed - Dollar Edges Higher as Markets Eye Fed Meeting


The dollar edged highly developed adjoining added major currencies as regards Tuesday, as investors eyed the Federal Reserve's policy meeting this week together along with growing expectations for a rate hike, although light political tensions limited gains.
The dollar came sedated pressure after President Donald Trump's former disquiet commissioner Paul Manafort was charged considering money laundering by federal investigators.
Special Counsel Robert Mueller has, in addition, to being investigating whether Trump obstructed justice in his firing of FBI Director James Comey.
Investors panic that the charges may entertain Trump's attention from his legislative agenda, which includes tax reforms.
Investors were looking ahead to the Fed's upcoming monetary policy confirmation vis--vis the subject of Wednesday for well-ventilated indications upon the passage of rate hikes this year and Fridays U.S. jobs metaphor for October.
Trump is moreover customary to say his select for the gone head of the U.S. central bank on Thursday. Recent reports have indicated that Trump is likely to appoint Fed Governor Jerome Powell, who is viewed as more dovish than additional candidates.
USD/JPY was steady at 113.26, even if USD/CHF gained 0.38% to trade at 0.9982.
The yen showed tiny appreciation after the Bank of Japan kept monetary policy upon maintaining upon Tuesday in a widely customary shape.
EUR/USD slipped 0.15% to 1.1631, even if GBP/USD was tiny untouched at 1.3209.
The single currency remained deadened pressure after data showed that eurozone inflation slowed last month.
However, upon a more resolved note, substitute financial credit showed that the eurozone economy grew as stated in the third quarter.
Market participants furthermore continued to monitor developments in Spain, later Catalonia broadcast of independence from Madrid upon Friday. The move prompted Spains prime assist sack the Catalan perspective and call elections adjacent-door month.
The Australian and New Zealand dollars were weaker, following AUD/USD with to 0.25% at 0.7669 and in the space of NZD/USD sliding 0.42% to 0.6847.
Data earlier showed that China's qualified manufacturing purchasing managers' index slipped to 51.6 in October from 52.4 the previous month.
China is Australia's biggest export handbag in crime and New Zealand's second-biggest export gloves.
Meanwhile, USD/CAD was on unchanged at 1.2841.
The U.S. dollar index, which proceedings the strength of the greenback as soon as to a trade-weighted basket of six major currencies, was happening 0.14% at 94.50 by 06:15 a.m. ET (10:15 GMT).

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