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The press conference of Donald Trump brought back the buyers of the American dollar. RBNZ left rates unchanged and lending in the US has grown.

The American dollar regained some of its positions after the press conference of the US president yesterday, which took place against the backdrop of his party's victory in the midterm elections to the Senate. Also supporting the dollar has the expectation that the Federal Reserve will continue to increase interest rates. The decision of the Federal Reserve on interest rates is published today. Most likely, the Central Bank will leave them unchanged but there are economists who believe that the Fed may raise rates already in November of this year. However, such a decision may cause more harm than good, as it will negatively affect the medium-term plans of many market participants, who will have to revise their strategies. Economic indicators with rising inflation do not create such a sharp need to raise rates.

It is also necessary to pay attention to the statements made by the Fed after the publication of the meeting report.

Returning to the topic of yesterday's press conference US President Donald Trump stated that the Republicans got the majority and significantly exceeds his expectations. This suggests that the people love and trust him. Trump also noted that he was very happy, along with the majority of representatives of his cabinet, to select different people for various positions.

As for the Democrats, the US president did not hesitate to express himself. Trump said he wanted to work with the Democrats on infrastructure and medicine issues, and also urged the parties to come together. The American leader also expects much less impasse after the Democrats gained a majority in the House of Representatives. Judging by the statement, now that the Democrats have received a majority, he will blame them for all the failures for which he was so criticized by supporters of the democratic party.

As for international relations, the US president once again rejected Russia's influence in the 2016 presidential election and also said that he was pleased with the progress in the situation with North Korea. Trump intends to meet with Kim Jong-un in early 2019.

As for the fundamental data, a good report on the growth of consumer lending in the United States in September of this year supported the US dollar.

According to the Federal Reserve, the unsecured consumer lending increased by 3.33% equivalent to 10.92 billion US dollars in September 2018 compared with the previous month. Economists had expected lending to grow by $ 14.5 billion.

Exchange Rates 08.11.2018 analysis

Renewable loans for the reporting period decreased by 0.36% compared with the same period of the previous year, while non-revolving loans showed an annual growth of 4.65%.

The Reserve Bank of New Zealand left the official interest rate unchanged at 1.75%, which did not lead to significant changes in the NZD/USD pair. The Reserve Bank of New Zealand said it expects the key rate to remain at 1.75% throughout 2019 and partially in 2020.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Eder Anderson,
Analytical expert
InstaForex Group © 2007-2018
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