empty
 
 
pk
سپورٹ
فوری اکاونٹ کھولیں
تجارتی پلیٹ فارم
رقم جمع کروانا / نکلوانا

02.11.202309:11 Forex Analysis & Reviews: Hot forecast for GBP/USD on November 2, 2023

The Federal Open Market Committee decided to keep the refinancing rate unchanged but still left the door open for further interest-rate hikes in the future. In theory, this should have prompted the US dollar to rise further. However, that didn't happen. In fact, the pound even returned to the levels it was at the day before, prior to the release of the eurozone inflation data. This might be due to Federal Reserve Chair Jerome Powell. He explicitly mentioned that further rate hikes could have a negative impact on the economy, whereas the central bank aims for the opposite. This is the first such statement made in such plain sight. Thus, it appears that the US central bank is starting to prepare the public for the gradual easing of monetary policy. It's this abrupt change in stance that has led to the US dollar's weakness.

Exchange Rates 02.11.2023 analysis

The Bank of England will hold its meeting today, and the results will likely be similar. Hints of an imminent interest rate cut are expected to be even more explicit and direct. This is likely to lead the foreign exchange market back to the levels it was at before yesterday's FOMC meeting.

*تعینات کیا مراد ہے مارکیٹ کے تجزیات یہاں ارسال کیے جاتے ہیں جس کا مقصد آپ کی بیداری بڑھانا ہے، لیکن تجارت کرنے کے لئے ہدایات دینا نہیں.

Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

Show more
ابھی فوری بات نہیں کرسکتے ؟
اپنا سوال پوچھیں بذریعہ چیٹ.