The dollar edged higher yesterday but is looking weaker this morning. President Trump tweeted that at the request of the Vice Premier of China and due to the 70th anniversary of the People’s Republic of China, the US will be moving their tariff increases from the 1st of October to the 15th of October. Before this, China released a list of the US goods that will be exempt from tariffs, including animal feed and anti-cancer drugs. This comes as the two sides prepare to hold fresh talks on a possible trade deal.
President Trump once again criticised the Federal Reserve for refusing to make aggressive interest rate cuts. He tweeted to say that the Fed should ‘always be paying the lowest rate.’ This comes ahead of the Federal Reserve’s next interest rate decision, which is due to take place next week.
Today, we will see the release of US inflation rate data, which is forecast to come in at 1.9% year-on-year, up from the previous figure of 1.8%.
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