Home Artikel Market News Asians Shares Traded Lower, Dollar Eased Ahead FOMC Meeting

Asians Shares Traded Lower, Dollar Eased Ahead FOMC Meeting


Asian shares traded lower as growing worries about the U.S. economy had investors looking to Congress and the Federal Reserve for a renewed commitment to endless stimulus.

Gold prices declined as investors booked profits after prices hit a record high in the last session, Spot gold was trading 0.3% lower at $1,957 per ounce, after hit an all time high of $1,981.35 on Tuesday.

Crude oil prices declined, extending previous session losses as the raging COVID-19 pandemic ignited concerns about falling fuel demand causing an oversupplied market, although an industry report showing crude inventories in the United States fell against expectations limited downside.

FX Markets :

The dollar index (DXY) eased as investors await the Federal Reserve meeting outcome, which is expected to sound reassuringly accommodative at its policy review later in the day and perhaps open the door to a higher tolerance for inflation. The dollar index traded 0.2% lower at 93.56, after hit a low of 93.48 on Monday, its lowest since June 2018.

EUR/USD steadied after easing from a near 2-year peak in the previous session after a Reuters poll showed Euro zone economic growth next year will be slightly stronger than previously expected following European Union leaders deal on 750 billion euros to support economies ravaged by the coronavirus. The pair traded 0.2% higher at 1.1741, after touched a high of 1.1781 on Monday, its highest since September 2018.

USD/JPY slumped to a near 5-month low as the United States continued to see a rise in coronavirus cases, while the Federal Reserve is expected to maintain very loose monetary policies. The continued spread of coronavirus is hampering the U.S. economic recovery, while investors await to see if the Fed indicates that it will increase its purchases of longer-dated debt. The pair was trading 0.1% lower at 105.01, after hit a low of 104.93 earlier, its lowest since March 13.

GBP/USD held firm near a 4-1/2 month peak amid broad based U.S. dollar weakness. However, concerns about the lack of progress of Brexit negotiations prevented the British pound from pushing above the $1.3000 handle. The pair traded flat at 1.2927, after hit a high of 1.2952 on Tuesday, it’s highest since March 11.

AUD/USD surged, extending gains for the fourth straight session as U.S. dollar eased after data showed U.S. consumer confidence fell by more than expected this month. The pair trades 0.3% higher at 0.7173, after hit a high of 0.7177 on Tuesday, it’s highest since July 22.

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