020 7898 0500We experienced weakness for the US dollar on Wednesday due to the release of poor consumer inflation data that dropped to negative territory for the first time in seven months, showing that the recent struggle in China is having a knock-on effect on to the US economy.
We can expect a busy day today, with important releases due. Firstly, the weekly unemployment figure is expected, and estimated to remain stable. However, the focus is on the evening’s US Federal Reserve rate decision and minutes. The expectation is that the Federal Reserve will leave rates on hold, but it will be the following report of the meeting’s minutes which will be the talking point, as many banks and investors had previously expected a rate hike to start this month.
