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Results of the US FRS meeting weaken the dollar


July, 29 2021
watermark Economic news

The results of yesterday's meeting of the US FRS were perceived by the market rather calmly and led only to a slight decrease in the dollar exchange rate and an increase in demand for risky assets. The DXY index of the US dollar against the world's leading currencies fell from 92.5 to below 92.0, the lowest in a month.


Stock indices closed in different directions. The hi-tech NASDAQ index closed in positive territory: the leaders of growth were the shares of Google, the prices of which increased by more than 3%.


In general, market participants liked the absence of a timetable for winding up stimulus measures in the Fed's comments. At the same time, investors noted increased concerns about the impact of the growth of infections with new strains of Covid on the pace of the US economic recovery.


Today the focus of the markets is on the US GDP statistics for the II quarter. The index, according to the first estimate of the Bureau of Economic Analysis of the US Department of Commerce, increased by 6.5% year-on-year. Analysts had expected GDP growth of 8.5% on an annualized basis.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
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