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Analysts predict fall in exchange rate of US dollar

Finance Materials 18 November 2019 18:28
Analysts predict fall in exchange rate of US dollar

BAKU, Azerbaijan, Nov. 18

By Nargiz Ismayilova – Trend:

The exchange rate of the US dollar decreased against the leading currencies on international currency exchanges after the US president criticized the Federal Reserve System - Fed, Trend reports referring to InvestAz company.

InvestAz experts predict the further change in the exchange rates of the world currencies.

Thus, the exchange rate of euro against the US dollar also increased from $1.10 to $1.1061 and given such growth rates it can increase up to $1.11 and $1.12.

The positive fundamental indicators of the development of Germany’s economy affected this.

At the same time, the growing political risks in Europe remain in the spotlight.

British pound

There is an increase in the exchange rate of the British pound against the US dollar. Presently, the exchange rate is around $1.2944 per British pound and may increase up to $1.30.

Turkish lira

The decrease in the exchange rate of the US dollar on the world currency exchanges also affected the exchange rate of the US dollar against the Turkish lira. In accordance with the analysis, the rate varying within 5.77 Turlish liras may fall up to 5.72 liras.

Oil and other energy resources

The Brent oil price in Europe began to fall on the energy exchanges after the price reached $64 per barrel and may fall up to $61.

The analysts are also waiting for the data on oil and gas reserves in the US, which will be disclosed on Nov. 20. They think that these data may have a great impact on the prices of the energy resources on the commodity exchanges.

Gold

The demand for gold in the non-ferrous metals markets increased again and the price reached $1,473 per ounce ($47.4 per gram). We are witnessing an increase, based on an analysis of the minimum and maximum trading prices per ounce last week, amounting to $1,446 ($46.5 per gram).

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