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Market Update

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

FED Minutes in Focus | US Pushes Yuan Stability

Published February 20, 2019
  • Markets today will be eyeing minutes from the Fed’s January meeting following a dovish statement from the central bank at their January policy-setting meeting. Markets will be closely watching for the FOMC discussion on the removal of some further gradual increases in the target range from the statement.
  • The US is reportedly said China to press for stable Yuan as as part of trade negotiations between the two nations. The move is aimed at neutralizing any effort by China to devalue its currency to counter US tariffs and to get a memorandum of understanding that would hopefully lead to a deal. 
  • Loretta Mester, President of the Federal Reserve Bank of Cleveland said that interest rates should rise slightly this year if employment and inflation continue to hold near the central bank’s targets.
  • World Trade Organization warned that global trade is about to hit its lowest level in nearly nine years could foreshadow a broader economic downturn, as international tensions and political uncertainty weigh on countries.