Forex Market This Week Started With unsteady steps

US Dollar, Euro and Yen began with sluggish movement at the opening of the market this week, investors chose to wait for the announcement of the Fed is going to raise rates or not. The euro changed little in the range of USD 1.1342, last at 1.8 percent rise last week. Similarly greenback was also sluggish at 120.65, while the euro around 136.80 against the Yen.

source : beiruttimes

Disappointing report on China released Sunday also failed to move the market. Growth in Chinese investment and factory output in August was better than expected, increasing the risk of further slowdown in Chinese economic growth below 7 percent in the third quarter, which has never happened again since the global financial crisis (2009). "The weakening in China's industrial production and fixed asset investment data at the end of last week will affect the AUD and NZD, but market participants are still waiting for (action) the Fed," said ANZ analyst notes on his client.

The Fed will hold a two-day meeting on September 16 to 17 and market participants can only speculate whether the interest rate will be increased this month, whether December or early next year. This uncertainty is also seen in US Government Securities whose value has shrunk in the range of 2.109 percent to 2,254 percent in the past three weeks.

Before the meeting the Fed, Bank of Japan (BOJ) will hold a meeting on 14-15 September and released Tuesday the results tomorrow. There are blowing news that the BOJ is likely to continue its policy of monetary stimulus, but the source of the nearby told Reuters that there was no desire to take such action this week.