Compass Global Markets' Blog

Market Update - 21st September 2017 - U.S Fed Maintain Rates At 1.25% But Suggest Higher Rates To Come

Posted by Patrick Downes on September 21, 2017 at 8:58 AM

Last night the U.S Federal Reserve led by Chairwomen Janet Yellen kept rates on hold for a third consecutive month at 1.25% while intimating that one further rate hike was still on the cards for 2017, while economists have predicted three to four in 2018 - of course dependent on inflation figures. AUD/USD fell around 100 points on the more upbeat than usual Fed but has recovered some lost ground in the early hours of this morning.

Ahead today is the Bank of Japan latest interest rate decision, so for those of you looking to purchase JPY you may wish to do this ahead of the announcement around 1pm to avoid downside risk.

AUD EXCHANGE RATES:

AUD/USD – 0.8027

AUD/GBP – 0.5946

AUD/EUR – 0.6750

AUD/NZD – 1.0913

AUD/JPY – 90.231

DATA RELEASES TODAY:

JPY - BOJ Interest Rate Decision after 1.00pm

AUD – RBA Gov Lowe speaks at 3.10pm

***Above rates are indicative wholesale rates and intended as a guide only***

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick - 0431 278 632 

  Email Patrick: patrick@compassmarkets.com

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Topics: Report, Market

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