Daily Updates 19th December 2018
The euro strengthened against dollar on Tuesday as traders pared greenback holdings before the Federal Reserve’s highly anticipated interest rate decision. Markets will scrutinize the Fed's two-day policy meeting, which starts Tuesday, for its sense of how the economy is holding up amid a U.S.-China trade conflict and global financial market volatility. The pound strengthened against greenback on Tuesday as a weaker dollar and confirmation Prime Minister Theresa May will seek parliamentary approval for her much-criticized Brexit deal in mid-January supported British pound. May faces an uphill battle in convincing her lawmakers to back her deal she postponed a previous planned vote in parliament after allies warned her she faced a rout. Today will be busy in terms of Top-tier data from UK & Canada & United States. To start with UK will release their Consumer Price Index which will give us an outline on the current purchasing power & their Inflationary levels. Followed by Bank of Canada releasing their Consumer Price Index as well. Main focus will be around the US Fed Interest Rates Decisions & their Economic Projections which is the most anticipated report for December. Analysts will look for cues from Federal Reserve on how many more Interest Rates decided for the year of 2019 & Economic Strategies.Yesterday’s Market
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