Speculation that US President Donald Trump is a radical head of the Federal Reserve when the current Chairman, Janet Yellen kept the period, the dollar steadily on Tuesday morning.
On Monday reports showed that trump the advantage for Stanford economist John Taylor, a well-known policy hawk, had previously been thought to the bottom of the list of candidates.
The dollar was unchanged against the yen as of 1:30 am HK/SIN, but it was against a number of other trading partners, including the Canadian and Australian dollars and the Swiss franc The dollar was also up against the euro, trading at $1.1776.
Nevertheless, Shin Kadota, senior analyst at Barclays in Tokyo, said to Reuters that the “news in terms of the Fed Chairman is in constant change and the market finds it hard to move in the corresponding direction, up to some clarity.”
Oil Prices Struggle
Oil prices stalled on Tuesday morning after a strong showing during Monday’s Asian session. U.S. WTI futures fell by 0.15% to $51.79 per barrel, Brent futures were down a modest 0.02 percent, to $57.81 per barrel. On Tuesday, Fatih Birol, the Director of the International energy Agency (IEA) confirmed that OPEC compliance with cuts stands at 86 percent, a higher rate than ever. He did note that the compliance with the constantly varies, so there is no way for sure to know whether this high compliance rate to continue into November, however, that if compliance remains stable, the markets into balance in the coming months.
Birol also noted that it is too early to measure whether the constant political tensions between Iraq and Kurdistan and the potential for increased sanctions by the US on Iran have a significant impact on oil prices.