Get Ready for Market Action: BoJ Rate Hike, Fed Policy Meeting, and More – July 31 Update
Get all the latest updates on the financial markets for Wednesday, July 31. The Bank of Japan surprised investors with a rate hike, while the Federal Reserve’s policy meeting looms ahead. Keep an eye on the Harmonized Index of Consumer Prices data from Europe and ADP Employment Change figures from the US. Find out how these events could impact your investments.
The Bank of Japan raised its policy rate by 15 basis points to 0.15%-0.25% and announced a tapering of JGB buying. The USD/JPY pair spiked to 154.00 before settling around 152.50. Check out the latest Japanese Yen price movements against major currencies this week.
Australia’s inflation data showed a rise in CPI, while Retail Sales beat expectations. AUD/USD faced bearish pressure, dropping to near 0.6500. In China, Manufacturing PMI came in at 49.4 in July. The Fed is expected to keep rates unchanged, with the US Dollar Index hovering below 104.50.
EUR/USD held above 1.0800, GBP/USD struggled near 1.2830, and Gold surged above $2,400. Learn more about the Fed’s monetary policy and how it impacts the US Dollar. Stay informed and make wise investment decisions based on the latest market trends.