Dollar treads careful ahead of Fed Rate Cuts & Sterling Steadies

Daily Update - 30th October 2019

Yesterday’s Market

• German Buba Weidmann’s Speech
• US Consumer Confidence & Pending Home Sales

Yesterday’s Explained

AUD RBA Minutes resulted positive boosting the AUD further against the Dollar. Finally to end the busy day US Economic Data released reports such as Consumer Confidence & Pending Home Sales both ended up positive regardless the Dollar was trading narrow on the speculation of the Interest Rate Cuts being the talk of the week and pushing the Dollar of the edge.

 

Today’s Market

• US Fed Minutes, Interest Rate Decisions & Gross Domestic Product
• Germany Unemployment Rate & Harmonized Index of Consumer Prices

Today’s Focus

It’s a busy day ahead on the economic calendar. Key stats include October ADP nonfarm employment change numbers and 3rd quarter GDP numbers. With the numbers due out ahead of the FOMC monetary policy decision later in the day, we can expect the stats to influence. The main event will be the FOMC interest rate decision and the release of the rate statement, however. Expectations are for a 25 basis point rate cut. A hawkish rate cut could well give the Dollar a nudge northwards.