Forex - U.S. Dollar Flat Before Fed Meeting; U.K. Set to Held Early Dec Election
Investing.com
Published Oct 30, 2019 12:54AM ET
Updated Oct 30, 2019 06:32AM ET
Investing.com - The U.S. dollar was little changed on Wednesday in Asia as traders braced ahead of an expected interest rate cut by the U.S. Federal Reserve later in the trading day.
The Fed is expected to cut rates for a third time in a row when it concludes its two-day meeting on Wednesday.
The U.S. Dollar Index that tracks the greenback against a basket of other currencies was little changed at 97.498 by 12:50 AM ET (04:50 GMT).
Tensions between Beijing and Washington flared up again after the U.S. and 22 other countries at the United Nations urged China to stop detaining ethnic Uighurs and other Muslims.
Zhang Jun, China’s U.N. Ambassador, said the criticism “is not helpful for having a good solution to the issue of trade talks.”
“It’s hard to imagine that on the one hand you are trying to seek to have a trade deal, on the other hand you are making use of any issues, especially human rights issues, to blame the others,” he said.
Reports have suggested that U.S. President Donald Trump and Chinese President Xi Jinping may sign a phase one trade deal at the Asia-Pacific Economic Cooperation summit in Chile in November.
Trump said last week that a trade agreement with China was ahead of schedule, but did not provide more details.
The AUD/USD pair slipped 0.1% to 0.6861.Data from the Australian Bureau of Statistics showed the country’s headline consumer price index (CPI) rose 0.5% in the September quarter, in line with expectations but slowed from a 0.6% gain in the previous three-month period.
Annual CPI inflation climbed 1.7%, also matched expectations.
The GBP/USD pair also stayed near flat at 1.2862 after U.K. lawmakers voted by 438 to 20 to hold an early general election on Dec. 12.
Amendments to the bill, including an alternative Dec. 9 election date and a lowering of the voting age to 16, were earlier rejected.
The USD/JPY pair was little changed at 108.82.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.