There's no doubt that the Fed will hike its funds rate later today. The accompanying FOMC statement and economic projections will be of much more interest. The comittee took a step toward a more neutral bias at their most recent meeting. Should they continue in that direction, the dollar is bound to get sold. EUR/USD is trading in an ever tighter short-term range but any breakout will probably be limited, with ECB decision coming up tomorrow.
al_dcdemo's Blog
USD/JPY rally stalls ahead of 110
Fed's meeting ended without big surprises. FOMC statement has been seen as a bit less hawkish than expected. Perhaps it's time for some consolidation/correction ahead of the U.S. labour market report tomorrow. USD/JPY rally stalled ahead of 110 resistance which is backed by 200 DMA. 109.5 is the initial support.
U.S. dollar looks supported after the FOMC decision
FOMC left federal funds rate in 1.25% - 1.50% range, as expected. The statement was seen as slightly more hawkish than expected. March hike appears to be a done deal with some quarters now expecting as many as four rate hikes this year. U.S. dollar looks supported but will it last?
EURo rallies as FOMC left rates unchanged
Euro printed an outside day reversal candle yesterday after the FOMC left interest rates on hold. A hawkish dissent, positive risk assessment and overall improvement of the tone of the statement was not enough to keep the U.S. dollar sellers at bay.
The pair surged about a cent from the lows and is currently stalling near 200 DMA. 1.11 and 50 DMA are the next levels where stronger supply may be expected. 1.10 shall now hold, if this is truly a bullish market.
The pair surged about a cent from the lows and is currently stalling near 200 DMA. 1.11 and 50 DMA are the next levels where stronger supply may be expected. 1.10 shall now hold, if this is truly a bullish market.
Kiwi approaches 0.69
Remarks in the speech by the Fed governor Janet Yellen sparked a dollar sell-off across the board. Recent hawkish tones by a number of Fed speakers had markets expecting something a bit less dovish than the latest FOMC statement.
The winner of the day was the Kiwi, which rose 80 pips before the event and about 70 pips afterwards. We can expect some buy stops to be triggered at and above 0.69 but probably plenty of new supply into 0.70.
The winner of the day was the Kiwi, which rose 80 pips before the event and about 70 pips afterwards. We can expect some buy stops to be triggered at and above 0.69 but probably plenty of new supply into 0.70.
EURo falls after FOMC meeting
Even though the FOMC statement wasn't particularly hawkish, the committee slightly upgraded its assessment of jobs market progress and that was enough for the Dollar bulls to sell the Euro down to 1.10. The pair continued to fall overnight and in the morning but with signs of demand coming in from below 1.0950.
US Advance GDP will be released today at 12.30 GMT and until then the pair is likely to remain near the current levels. Support is seen between 1.0925 and 1.0950 (July 24th low, Weekly Pi…
US Advance GDP will be released today at 12.30 GMT and until then the pair is likely to remain near the current levels. Support is seen between 1.0925 and 1.0950 (July 24th low, Weekly Pi…
EURo through the roof
Euro has convincingly broken above late March and early April highs near 1.1050. It was trading below 1.10 during most of the European session but then much weaker than expected US Advance GDP release sent it through the roof.
It busted January low (1.1098) and all three daily pivot point resistances in the process, before stalling ahead of 1.12 level and Weekly Resistance 3 just above that. Hawkish FOMC statement then offered longs an excuse to take some off the table and the pair subsequently …
It busted January low (1.1098) and all three daily pivot point resistances in the process, before stalling ahead of 1.12 level and Weekly Resistance 3 just above that. Hawkish FOMC statement then offered longs an excuse to take some off the table and the pair subsequently …