Currencies and commodities – slightly higher dollars – economy

Looking ahead to the start of the two-day US Federal Reserve meeting, investors held back on the forex market. “The Fed will undoubtedly stress that it will act decisively if inflation does not move in the direction of its target value after the end of the expected slowdown in securities purchases,” predicted Steve Englander of Standard Chartered Bank. . At the same time, it will repeat its mantra that price pressure will ease as delivery bottlenecks ease. In this context, the dollar appreciated slightly on Tuesday, in return the euro fell by a quarter of an American cent to 1.1576 dollars.

Cyber ​​currencies were in demand again. Ethereum, the second largest cryptocurrency after Bitcoin, gained 4% and was more expensive than ever at $ 4,498. It benefits from speculation that a listed fund (ETF) will soon be admitted to the cryptocurrency, said analyst Timo Emden of Emden Research. In the case of Bitcoin, investors have also grabbed hold of it. The rate rose five percent to $ 63,950. This brought the largest and oldest virtual currency closer to its previous high of $ 66,979.60. “The series of profit-taking seems to have stopped for now,” Emden said. “In addition to the recent introduction of Bitcoin futures ETFs in the United States, it is latent inflation that is attracting investors.”

In the oil market, a barrel of North Sea Brent fell slightly to $ 84.50. However, oil prices are still near multi-year highs. They are motivated in particular by strong demand, which has recovered significantly from the severe Corona crisis. In this environment, supply remains too scarce, even though the Opec + crude oil network has gradually increased its production since the summer. On Thursday, the 23 producing countries will decide their short-term course.

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