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The FOMC kept rates unchanged but the dot plot forecasts 50 basis point hikes between now and the end of the year.The initial reaction was to the downside in stocks,Dow Industrial Average was down -428.58 points at the lowsS&P index was down -31.17 points at the...
There is a little bit of this and a little bit of that in the Fed Chair comments and in the markets:In the forex, the major indices saw the dollar spike higher and then retrace. The US yields moved higher and came back off. The US stocks fell and recovered.EURUSD: The...
The Fed inarguably delivered a surprise on Wednesday by raising the dots plot to signal a year-end rate of 5.6% and the initial reaction was what you would expect -- selling of risk assets and buying in the dollar. However after some time to digest, the market...
The Feds dot plot was a hawkish pause. However, the comments from the Fed chair have been a little less scary. As a result, we are seeing a rebound in stocks. The NASDAQ index turned back into positive territory after trading down as low as -117.33 points. The index...
AI imagePowell explained that it seemed like a 'natural' evolution of policy to switch to a slower pace of hiking as they reach the final destination. However we didn't talk about doing an 'every other meeting' approach.We didn't make a decision about JulyI do expect...
The full effects of our policy have yet to be feltNearly all policymakers view some further rate hikes this year as appropriateThe labor market remains very tightInflation has moderated somewhat since the middle of last yearInflation still has a long way to goIf the...
The Federal Reserve exerted a hawkish pause by skipping a rate hike but raising the terminal rate to 5.6% from 5.1%. That implies 50 more basis points hikes between now and the end of the year.The market which was thinking in terms of no change and the potential for...
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
The US dollar is 50-70 pips higher across the board following the FOMC decision.The announcement of no change in rates was largely priced in but what caught the market off guard was a rise in the Fed's dot plot to indicate that the median of policymakers see rates at...
The FOMC dot plot for May 2023 show the median rate at the end of 2023 at 5.6% versus 5.1% in March 2023For 2024, the median fed funds target rate is 4.6% vs 4.3% in MarchFor 2025, the median fed funds target rate is 3.4% vs 3.1% in MarchBelow is the dot plot for June...
Recent indicators suggest that economic activity has continued to expand at a modest pace. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated.The U.S. banking system is sound and resilient. Tighter...
Powell AI imageThe Fed previously hiked rates on May 3 to 5.00-5.25%Statement continues to say "inflation remains elevated"Recent indicators suggest that economic activity has continued to expand at a modest paceJob gains have been robust in recent months"Holding the...
Below is a snapshot of the markets ahead of the FOMC rate decision:EURUSD 1.0853USDJPY 139.39GBPUSSD 1.2683USDCHF 0.8978USDCAD 1.3301AUDUSD 0.6814NZDUSD 0.6221DXY 102.75US stocks:Dow industrial average down -154 points at 34058.49S&P index up 6.40 points or 0.15%...
EURUSD buyers are more in control.So what levels are in play through the FOMC rate decision?The EURUSD extended up to - and then through - the 200 bar moving average on the 4 hour chart at 1.08334 (see green line on the chart above). The price has moved to a high of...
AI imageThe FOMC decision on interest rates is due at 2 pm ET (1800 GMT). Here are five things to watch for:1) No change in ratesIn May, this looked like a close call but just before the Fed blackout hit, a pair of Fed officials offered strong hints about skipping the...
USDCAD trades to new low going back to FebruaryThe USDCAD is trading to a low of 1.32722. That took out the swing low from February 15 at 1.3273 and trades at the lowest level since February 2. The low price for the year was also on February 2 at 1.32613. Move below...
The USDCHF is moving sharply to the downside as sellers take firm control. The pair moved below the 50% midpoint of the move up from the May low. That midpoint level comes in at 0.8983 and is now close risk. On the downside, a swing area between 0.8969 and 0.89769 is...
Shares of Nvidia has reached a new all-time high of $422.76. That took out the high price from May 30 at $419.38. For the trading year, the price is now up 188.26%. The price closed in 2022 at $146.14.Shares of Apple are trading up $0.94 or 0.51% $184.21. That would...
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
EURUSD continues its run higherThe dollar selling continues and that includes a move to new highs for the EURUSD.Looking at the 4-hour chart above, the price has now moved above a swing area between 1.08424 and 1.08485 (see video from earlier today). The next target...