The US currency rate is falling on the first day of the new trading week in relation to most world currencies in anticipation of a meeting of the national regulator, as well as signals on the further monetary policy of the department, taking into account the slowdown in the global economy.
As of the morning, the euro / dollar rate rose to 1.1418 dollars per EUR from the previous close of 1.1412 USD per euro. The dollar against the yen fell to 109.38 JPY per dollar from the previous close of 109.53 JPY per dollar. The dollar index fell by 0.08%, up to 95.72 points.
The next Fed meeting will be held January 29-30. Traders traditionally await signals about future plans for the regulator. Based on recent statements, traders expect that the regulator will recognize the increasing risks for the US economy amid a restraint of global economic growth and will tighten its monetary policy.
The US currency still tends to decline, and the markets expect unambiguous signals from the Fed this week. The regulator is likely to keep the interest rate at a stable level this year, given the state of the economy and finance outside the United States.
In 2018, the Fed increased the rate 4 times, however, in the minutes of the December meeting, recognized the risks for the subsequent increase in the base rate and lowered the forecast for the number of increases for 2019 from 3 to 2.
A certain impact on the dollar has the news that US President Donald Trump agreed on Friday to sign a short-term state budget for 3 weeks - until February 15, slowing down the maximum duration of a 35-day “shatdown” - temporary suspension of activity federal agencies due to lack of funding.
Meanwhile, the price of gold is rising on Monday against the backdrop of expectations of a more cautious monetary policy of the US Federal Reserve in the current year.
As of the morning, the price of the February gold futures on the New York Stock Exchange Comex rose by 4.05 dollars, or 0.31%, to 1301.95 dollars per troy ounce. The price of the March silver futures rose by 0.56% - to 15.78 dollars per ounce.
Gold has developed a very good macroeconomic environment in terms of the possibility of the Fed moving to a softer position in its future policy.
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