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Forex — Dollar Still on the downside With the Fed meeting on tap — Forex Stock Trade

Forex — Dollar Still on the downside With the Fed meeting on tap

Dollar remains lower ahead of Fed decision — The dollar remained broadly lower on Tuesday, after the release of mixed U.S. housing-sector data and investors, the Federal Reserve’s policy meeting considered to start later in the day.

The U.S. Commerce Department reported Tuesday that the number of housing starts fell unexpectedly in August, while building permits unexpectedly jumped.

Separate reports showed that U.S. import prices posted their largest gain in seven months in August, while the current account deficit widened more than expected in the second quarter.

Meanwhile, the Fed was widely expected to leave interest rates unchanged at the conclusion of its two-day monetary policy meeting on Thursday. But the US Central Bank could give any comments, when she plans to start unwinding its balance sheet, as well as all future interest rate decisions.

USD/JPY slipped 0.13% 111.42, while USD/CHF rose slightly by 0.08% to trade 0.9623.

Also in the US, President Donald Trump, the General Assembly of the United Nations for the first time on Tuesday.

Referring to the recent geopolitical tensions Trump: «the United States has great strength and patience, but to defend if it is forced themselves and their allies, we have no choice, but to destroy completely, North Korea.»

Elsewhere, EUR/USD 0.22% won 1.1981, while GBP/USD added 0.09% to 1.3509, not far from the previous session, the 15-month high of 1.3619.

The pound weakened on Monday following comments from the Governor of the Bank of England Mark Carney said that the pending interest rate way increases in the coming months, only a limited and step.

In the euro zone, the ZEW centre for Economic research earlier said its index of German economic sentiment rose to 17.0 month of August is the reading of 10.0.

The Australian and new Zealand Dollar remained stronger, with AUD/USD up 0.46% at 0.7996 and with NZD/USD advancing 0.69% to 0.7307.

Also Tuesday, the minutes of the Reserve Bank of Australia September-showed the meeting that the policy remained favourable low interest rates, which is to say that it allows to strengthen the economy further.

Meanwhile, USD/CAD, 0.14% to 1.2281.

Statistics Canada reported Tuesday that manufacturing sales up 2.6% in July, compared with expectations for a decline of 1.6 percent.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.15% 91.67 10:50 am ET (14:50 GMT), just off a one-week low of 91.57 hit overnight.

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