Daily wrap up – 19 September

19 Sep 2017 06:39 PM

Today's trading was fairly calm as markets awaited FED's decisions tomorrow, the FOMC meeting started today to discuss continuing tightening of monetary policy as well as the continued calm in the North Korean crisis that eased demand for safe havens.

The US dollar reached its highest level against the Japanese yen over the course of 8 weeks, where the USDJPY rose to 111.87 before falling slightly to the levels of 111.50.

Earlier in the morning, the Reserve Bank of Australia (RBA) meeting minutes has released, where interest rates were kept at 1.5%. RBA refers to that labor market continued to improve besides that the policymakers emphasized the negative impact of Australian dollar rising on growth and inflation, AUDUSD rose after that to reach its highest levels since yesterday at 0.8014.

Crude oil prices rose to a daily high of 50.79$, near their highest level in five months, as some Middle Eastern oil producers continued their commitment to a cut production agreement, before declining to trade near to a support at 49.70$ and with breaking this level, prices would form a double top pattern that could target levels of 48.80$ a barrel.

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