{"id":44084,"date":"2013-05-01T09:03:00","date_gmt":"2013-05-01T09:03:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-u-s-dollar-broadly-lower-as-the-market-anticipates-no-change-in-feds-policy\/44081\/"},"modified":"2013-05-01T09:03:00","modified_gmt":"2013-05-01T09:03:00","slug":"forex-market-update-u-s-dollar-broadly-lower-as-the-market-anticipates-no-change-in-feds-policy","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/forex-market-update-u-s-dollar-broadly-lower-as-the-market-anticipates-no-change-in-feds-policy\/44084\/","title":{"rendered":"Forex Market Update: U.S. Dollar Broadly Lower as the Market Anticipates No Change in Fed\u2019s Policy"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>The euro climbed to a two-month high against a broadly weaker U.S. dollar on Wednesday as expectations are abound that the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> will keep its aggressive monetary policy unchanged in an effort to provide more stimulus to the economy.<\/p>\n<p><span id=\"more-44084\"><\/span><\/p>\n<p>At around 8:30 a.m. EST, the euro jumped 0.56% $1.3241.<\/p>\n<p>Meanwhile the ICE dollar index, a gauge on U.S. unit\u2019s performance against a basket of six major traded currencies, hit as low as 81.495, which is its lowest level since late February, according to Reuters.<\/p>\n<p>The U.S. dollar also fell to a two and half month low against the pound sterling following the release of less-than-feared UK\u2019s April PMI data.<\/p>\n<p>The Markit\/CIPS Manufacturing Purchasing Managers&#8217; Index (PMI) climbed to 49.8 in April from an upwardly revised 48.6 in March. A reading more than 50 signifies economic expansion. Economists\u2019 consensus estimate was for a reading of 48.5.<\/p>\n<p>At last check, the sterling gained 0.32% to $1.5582.<\/p>\n<p>Speaking to Reuters, Philip Shaw, an economist at Investec said, \u201cIt&#8217;s a relatively decent result&#8230; The manufacturing sector is still weak &#8211; the PMI remains below the 50 breakeven level &#8211; but there is some semblance of stabilization, which could imply a gentle building of recovery momentum across the economy.\u201d<\/p>\n<p>Meanwhile the entire spotlight will remain on the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Fed<\/a>\u2019s policy rate statement on Wednesday, which is scheduled to be announced at 2:15 EST.<\/p>\n<p>The European Central Bank is expected to announce its monetary policy on Thursday. Speculation is rife that the ECB will slash its prime lending rate by 25 basis points to 0.50%.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20130503114226\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.4\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fforex-market-update-u-s-dollar-broadly-lower-as-the-market-anticipates-no-change-in-feds-policy%2F44084&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n<script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130503114226js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> \n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/tempur-pedic-q1-profits-plunge-78-tpx\/44140\">\nTempur-Pedic Q1 Profits Plunge 78% (TPX)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/open-table-provides-weak-revenue-guidance-on-q2-and-fy-2013-open\/44139\">\nOpen Table Provides Weak Revenue Guidance on Q2 and FY 2013 (OPEN)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-sharply-higher-15\/44131\">\nStocks End Sharply Higher<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-gain-silver-prices-also-edge-higher-7\/44129\">\nGold Prices Gain; Silver Prices Also Edge Higher<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-extend-gains-in-mid-day-trading-25\/44127\">\nStocks Extend Gains in Mid-Day Trading<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-euro-steady-against-broadly-lower-u-s-dollar\/44124\">\nForex Market Update: Euro Steady against Broadly Lower U.S. Dollar<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-edge-higher-in-early-trading-15\/44121\">\nStocks Edge Higher in Early Trading<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20130503114226im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n\n<!--script type=\"text\/javascript\">\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\n<\/script>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script-->\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The euro climbed to a two-month high against a broadly weaker U.S. dollar on Wednesday as expectations are abound that [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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