Sterling continued to fall,FED rate decision comes

On Tuesday, the US President Trump once again called the Fed, hoping to see a sharp cut in interest rates and an immediate stop of Quantitative Tightening Monetary Policy. A series of US economic data was announced and pointed to muted inflation. The Dollar Index decreased 0.02% to 97.81, while Gold price rose 0.29% to 1430.67.

GDPUSD dropped 0.56% to 1.2149. The PM Boris Johnson saying that Britain would leave the EU without a deal on 31st October if there are no changes made to the existing withdrawal agreement. The data shows that since Johnson took office, the pound has depreciated by about 2.4%.

The oil price continued the strong upward trend of the previous day. The latest API report showed that US crude oil inventories continued to decline, reducing by 6.024 million barrels to 443 million barrels; Iran's July crude oil exports fell to 100,000 barrels per day, and the Libyan Shala oil field has been closed. WTI crude oil price rose 2.23% to 58.20. BRENT crude oil price increased 1.85% to 64.98.

The upcoming big data and events: US FOMC Statement, Federal Funds Rate, FOMC Press Conference and Chinese Caixin Manufacturing PMI data.

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