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Market news

29 January 2020

Asian session review: the dollar rose slightly against the euro, but declined against the yen

Time Country Event Period Previous value Forecast Actual
00:30 Australia Trimmed Mean CPI y/y Quarter IV 1.6% 1.5% 1.6%
00:30 Australia CPI, y/y Quarter IV 1.7% 1.7% 1.8%
00:30 Australia Trimmed Mean CPI q/q Quarter IV 0.4% 0.4% 0.4%
00:30 Australia CPI, q/q Quarter IV 0.5% 0.6% 0.7%
05:00 Japan Consumer Confidence January 39.1 40.8 39.1
07:00 United Kingdom Nationwide house price index, y/y January 1.4% 1.5% 1.9%
07:00 United Kingdom Nationwide house price index January 0.1% 0.3% 0.5%
07:00 Germany Gfk Consumer Confidence Survey February 9.7 9.6 9.9

The US dollar is rising against the euro and slightly declining against the Japanese yen in trading on Wednesday.

News concerning the outbreak of pneumonia in China remains important for traders. The outbreak of pneumonia in the Chinese city of Wuhan began in mid-December 2019, the causative agent was a previously unknown coronavirus. According to the latest data, almost 6 thousand people were infected with it in China, and 132 people died. In addition, cases have been reported in a number of countries, including Thailand, Australia, Singapore, Japan, the United States, France, and Germany.

Investors are also waiting for the announcement of the results of the two-day meeting of the US Federal reserve (at 19: 00 GMT). According to forecasts, the fed will keep the interest rate in the range from 1.5% to 1.75% per annum.

Experts do not expect the Federal open market Committee (FOMC) to make a decision on changing the Treasury bill redemption program at the January meeting. However, some of them do not exclude that the fed will take a small step to test its relationship with the markets - it will raise the rate on excess Bank reserves (IOER) by 5 basis points to 1.6%.

The ICE Dollar index, which shows the value of the US dollar against six major world currencies, rose by 0.05% compared to the previous day.

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.