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,...
Gold rallies to a record high after the Fed slashes rates by 50 basis points
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,...
Watch live: The FOMC press conference for September 18, 2024
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 USD knee jerk is to the downside after Fed cuts by 50 bps
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,...
US dollar index falls to 14-month low as the Fed cuts rates by a half-point
AI imageFederal Reserve Chairman Jerome Powell delivered the razzle dazzle on Wednesday with a 50 basis point cut to start the rate-lowering cycle. Economists didn't expect the move but markets had sniffed it out with Fed funds futures pricing in a 55% chance of a...
A comparison of the July 2024 FOMC statement to the September 2024 FOMC statement
July 31September 18, 2024Federal Reserve issues FOMC statementFor release at 2:00 p.m. EDTRecent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have moderatedslowed, and the unemployment rate has moved up but remains low....
FOMC September 2024 dot plot and central tendencies of economic forecasts
Here is the dot plot from June 2024:Here is the dot plot from September 2024:Below is the table economic forecasts for GDP, Unemployment, PCE inflation and Core PCE inflation.Summary of the eocnomic projections:GDP steadyUnemployment rate moved higher with 4.4% the...
The full statement from the September 2024 FOMC rate decision
The full statement from the September 2024 rate decision:September 18, 2024Federal Reserve issues FOMC statementFor release at 2:00 p.m. EDTRecent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have slowed, and the...
Federal Reserve September interest rate decision: 50 basis point cut
Federal ReserveBowman dissents in 11-1 voteNo change to QE, as expectedEconomists widely expected a 25 bps cutFed funds futures priced the likelihood of 50 bps at 59%Fed funds were in range of 5.25% to 5.50% before the decisionNow says: The Committee has gained...
For reference: Here is the prior FOMC statement along with the dot plot and forecasts
Here is the July 31 FOMC statement:Recent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have moderated, and the unemployment rate has moved up but remains low. Inflation has eased over the past year but remains somewhat...
Bank of Canada minutes:
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,...
Video: One spot to fade after today’s FOMC decision
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,...
Stocks little changed as the clock ticks toward the Fed decision
The major US stock indices are trading within 0.03% of unchanged as the market calmly wait for the FOMC rate decision at 2 PM ET. The S&P index reached a high price today of 5642.84. Yesterday, a new all-time high price was reached intraday at 5670.82. The high...
GBPUSD extended higher and above a target level but reverses back down ahead of the FOMC
The GBPUSD did make a run to the upside in the early US session and in the process extended above a swing area between 1.3221 and 1.3230. I talked about that area in the earlier video starting at the 7-minute mark. The move above that level extended the price of the...
USDCAD going sideways ahead of FOMC rate decision. What would break the pair higher/lower
The USDCAD has been trading in a sideways pattern even though CPI data out of a Canada yesterday was weaker than expected. The unemployment rate is also moving higher with that at the highest level since 2017 (if you take out the spike from 2020 to 2021).The...
Odds of a 50 basis point rate cut slip to 55%
What a day this is turning out to be.The implied odds of a 50 bps were almost 70% yesterday but have slipped back to 55% in a steady grind. The market just doesn't know what's coming but there is clearly some anxiety today about under-delivering. That's led to a...
European close: Trepidation ahead of the Fed decision
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,...
Former Fed Pres. Mester: It is a really close call. Good case for a series of 25 bp cuts
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,...
What is the technical roadmap for the USDCHF through the FOMC rate decision.
In this video, I take a look at the technical roadmap for traders through the FOMC rate decision. What would increase the bearish bias and why? What would shift the bias more to the bullish side - at least in the short term.With the price lower and trading near 2024...
Atlanta Fed GDPNow growth estimate for Q3 falls to 2.9% from 3%
The Atlanta Fed GDPnow growth estimate for Q3 falls to 2.9% from 3.0% last. The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2024 is 2.9 percent on September 18, down from 3.0 percent on September 17. After this...