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Market Update

EncoreFX’s daily market updates are written by our experienced and professional dealing team.

Fed Decision Day | Brexit at Breaking Point

Published September 26, 2018
  • The Federal Reserve will announce its latest monetary policy decision today. With the Federal Reserve widely expected to raise interest rates, financial markets are focused on whether signs of an acceleration in US economic growth will prompt the central bank to ramp up the pace of monetary policy tightening.
  • French Finance Minister Bruno Le Maire has dismissed UK Prime Minister Theresa May’s blueprint for post-Brexit relations with the EU as unacceptable, suggesting that her proposals may deal a deadly blow to Europe.
  • US consumer confidence surged to an 18-year high as households grew more upbeat about the labour market, pointing to sustained strength in the economy despite an increasingly bitter trade dispute between the United States and China. The consumer confidence index increased to a reading of 138.4.
  • Trade representative Robert Lighthizer warned that the US is moving forward on its bilateral trade deal with Mexico even if Canada is left out, due to negotiators not being able to resolve their sharp differences over dairy and a dispute resolution system.