The dollar is weak today on the back of the Federal Reserve’s interest rate cut. Whilst they failed to repeat their “act as appropriate” mantra for future cuts, they still left the door open to more cuts next year.
President Trump has weighed in on the Fed’s interest rate decision, tweeting that they have “got it wrong from the beginning” and that the US “should have lower interest rates than Germany.”
A series of economic data for the US will feature today, including the release of Non-Farm Payrolls. They are expected to increase by just 89,000, which would be a fall from last months figure of 136,000. ISM manufacturing data will also be released following a poor result last month, when it reached it’s lowest level since 2009.
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