What you need to know on Wednesday, July 31st:
Publish Date : 2019/07/31 - 07:02

What you need to know on Wednesday, July 31st:

All eyes in the market are on the Federal Reserve. The world's most powerful central bank is set to cut interest rates for the first time in over a decade. Fed Chair Jerome Powell's message on future moves will determine the next moves. President Donald Trump has repeated his calls for the Fed to rate cut. The ADP Non-Farm Payrolls will likely influence markets before the Fed’s decision.

US-Sino trade talks continue in Shanghai, Trump believed that China hurt their economic part during past years and now it loses millions of jobs due to tariffs by US.

Today we will learn about euro-zone inflation in July and GDP in the second quarter. Both are expected to decline in comparison to June.

GBP/USD has been stabilizing above 1.2100 after losing of 250 pips in two days. PM Boris Johnson wants to renegotiate the controversial Irish backstop and the EU refuses.

Australian second-quarter inflation increases in comparison to the first quarter and supports the Aussie to improve its position.

The Canadian dollar is holding its ground ahead of Canada's GDP report for May.

Source: Fxstreet

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