- 
- 
- 
Welcome,
Guest!
TechnicalCentral BanksForex Brokers
Trading Tools |
Spotlight on FOMC rate announcement.
0
votes
Currency Trading Summary U.S. Dollar Trading (USD) was range bound as traders remained tepid ahead of the much anticipated FOMC rate announcement on Wednesday. On last measurement the markets had priced a 74% possibility that the Fed officials will move to cut rates by a further 50 bps. On the data front, Durable Goods for the month of December was released well above expectations at 5.2% (Forecast: 1.5%) whilst the Previous was revised higher to 0.5%, causing doubt that the Federal Reserve would cut the lending rate by half a percentage point. In U.S. share markets the NASDAQ was up by 8.15 points (+0.35%) whilst the Dow Jones up by 6.94 (+0.43%). Crude oil prices rose slightly by US$0.43 a barrel to US$91.43 on the back of expectations that a rate cut in the US will buoy demand for oil. Looking ahead, all focus will be placed on the FOMC rate announcement tonight, with markets anticipating a 50 bps rate cut. Accompanying the Rate announcement will be the fourth quarter release of GDP. The Euro (EUR) remained well supported on Tuesday holding firm above key levels, suggesting the Euro had upside potential in light of the Fed rate announcement due Wednesday. Overall the EURUSD traded with a low of 1.4737 and a high of 1.4798 before closing the day at 1.4776 in the New York session. Key data out of the Eurozone will surround the German IFO index. The Japanese Yen (JPY) fell against a number of majors, as global stock rallied ensuring the USDJPY returned to its funding role. On the data front Household Spending was released at 2.2% (Forecast: -0.2%; Prior: -0.6%), Unemployment Rate 3.8% (Forecast: 3.9%; Prior 3.8% and Retail Sales 0.2% (Forecast: 0.1%; Prior: 1.6%). The USDJPY traded with a low of 106.40 and a high of 107.24 before closing the day at 106.98 in the New York session. The Sterling (GBP) rose to its highest level against the dollar so far this year after a report calmed fears over the UK retail sector and dampened expectations of aggressive rate cuts by the BoE. Although CBI retail sales survey did touch a 14 month low, analysts did note that sales volumes in January were still stronger than expected. Overall the GBPUSD traded with a low of 1.9814 and a high of 1.9928 before closing the day at 1.9895 in the New York session. The Australian Dollar (AUD) was steady as financial markets await the US Federal Reserve interest rate decision at 1915GMT on Wednesday. The AUD did get a light boost from rebounding global stocks. Overall the AUDUSD traded with a low of 0.8860 and a high of 0.8905 before closing the day at 0.8886 in the New York session. Gold (XAU) was little changed throughout the day ahead of the FOMC rate announcement. XAU traded with a low of 917.50 and a high of 933.10. TECHNICAL COMMENTARY
Euro – 1.4765 Next Analysis:
Content Provided by:
Easy Forex
Easy-Forex™ Trading Platform, founded by a group of bankers, Forex and Internet experts, offers Forex traders direct access to the global currency markets. Easy-Forex™ revolutionary Online FX trading platform is the first online FX trading system allowing clients to deal Forex as a ...
Disclaimer:
The information and data entailed in this website or otherwise made accessible to you on this website are provided to Easy-Forex™ by a third party provider. Such information and/or data are made accessible for informative purposes only and they can under no circumstances be considered as a recommendation to you by Easy-Forex™ or any Easy-Forex™ personnel to engage in any trade. Hence, neither Easy-Forex™ nor any of its personnel can under any circumstances be held responsible for any outcome of trading decisions or trades in regard to any of such information and/or data. You hereby acknowledge that accessing and reviewing any of such information and/or data and/or using any of the information entailed in this website or otherwise made accessible to you on this website is your sole responsibility and at your own risk and you will have no claims with regards to any such information and/or data against Easy-Forex™ or any of its personnel. If you are unable to agree to this, you should not access and/or make use of any such information and/or data. Easy-Forex™ endorses responsible and moderate trading. Forex trading (OTC Trading) involves substantial risk of loss, and may not be suitable for everyone and we would like to recommend you not to risk any money, you cannot afford to lose. The transaction of such financial instruments known as Forex, fx, or currency, and dealt on a valued basis known as 'spot' or 'forward', 'day trading' and 'option', can contain a substantial degree of risk. Before deciding to undertake such transactions with Easy-Forex™, and indeed, any other firm offering similar services, a user should carefully evaluate whether his/her financial situation is appropriate for such transactions. Trading foreign exchange may result in a substantial or complete loss of funds and therefore should only be undertaken with risk capital. The definition of risk capital is funds that are not necessary to the survival or well being of the user. Easy-Forex™ strongly recommends that a user, who is considering trading foreign exchange products, read through all the main topics contained in the Easy-Forex™ website so that he/she may obtain a clear and accurate understanding of the risks inherent to ‘forex’ trading. Opinions and analysis on potential expected market movements contained within the Easy-Forex™ website are not to be considered necessarily precise or timely, and due to the public nature of the Internet, Easy-Forex™ cannot at any time guarantee the accuracy of such information. Information provided on this website is intended solely for informational purposes and is obtained from sources believed to be reliable and accurate. Information is in no way guaranteed. Easy-Forex™ and the Easy-Forex™ logo are trademarks and/or registered trademarks of Easy-Forex™ in the United States and/or other countries.  Related Products  Price: $ 49.95 Overview Adaptation is the name of the game in long term trading success. Join Fernando Gonzalez ...
 Price: $ 49.95 Overview This course is more than simple rules, this class explores and shows you how to ...
|
|
||
|
||
What do you think about our new site? |
||
 |
||
|
