Dollar Strengthens After Fed Hinted Tapering This Year, High-Beta Weighed By Negative Sentiment
Share on facebook
Share on twitter
Share on telegram
Share on whatsapp
Dollar, benefits, forex, trading, trade


1️⃣ Asian stock markets closed lower, following Wall Street’s decline after the Fed said it would make a reduction in asset purchases this year.


1️⃣ USD surged as the Fed says it will do a reduction in asset purchases this year.

2️⃣ AUD declined amid concerns over the COVID-19 outbreak and despite better-than-expected employment data.

3️⃣ Safe-haven currencies (JPY & CHF) soared amid negative sentiment on market.


1️⃣ Crude oil prices fell below the $64 per barrel, following concerns about the rapid spread of COVID-19 around the world, forcing some countries to impose restrictions at the border.

2️⃣ Gold slipped below the $1,780 level, amid concerns of a COVID-19 spread and a surge in the US dollar.

Economic Data Focus On Today

1️⃣ FOMC Meeting Minutes for July (02:00 Malaysia Time) — No Prediction — No prediction from the central bank.

2️⃣ Australian Employment Data for July (09:30 Malaysia Time) — Bearish Prediction — The latest lockdowns in the country may hurt labor markets.

3️⃣ US Philly Fed Manufacturing Index for August (20:30 Malaysia Time) — Bearish Prediction — Empire State Index declined.