China took action against nine U.S. military-affiliated companies on Wednesday in response to U.S. arms sales to Taiwan, freezing their assets within China. This move is the latest effort to increase pressure on the United States to cease its weapons sales to the...
Forexlive Americas FX news wrap 18 Sep: Fed starts rate cuts with a 50 bp cut
The Federal Reserve Bank started the easing cycle with a cut of 50 basis points. The Fed "recalibrated" the policy stance away from when inflation was high and employment low. The baseline is now inflation is steady, and the employment is not as low. The Fed wants to...
ICYMI – US regulators to allow shares to trade in increments of half a penny
The focus of the Wednesday session was, of course, on the Federal Open Market Committee (FOMC).But, ICYMI, a development for stock exchanges of note. The share market top regulator, the U.S. Securities and Exchange Commission (SEC),has voted to allow stock exchanges...
Economic calendar in Asia 19 September 2024 – data from New Zealand and Australia
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,...
Trade ideas thread – Thursday, 19 September, insightful charts, technical analysis, ideas
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 equity close: Big Fed cut can’t fuel an 8th day of gains
The Fed delivered a big cut but it was a case of 'sell the fact' as equities couldn't keep the winning streak going.I think at the end of the day, you have a 'Fed put' now and that wins out but we could see a squeeze tomorrow.S&P 500 -0.2%Nasdaq Comp -0.2%DJIA...
EURUSD moves back to 100 hour MA and swing area
The EURUSD moved higher (lower USD) after the Fed cut rates by 50 bps. The price extended higher and toward swing highs for the year. The 2nd to last swing high target was at 1.11897, and that level was reached. What wasn't reached was the double top at 1.12009 from...
The ‘ole FOMC ‘sell the fact’ hits again
We've seen this one before.You can game out the Fed decision as much as possible but the market loves to punish both sides of the trade. That's exactly what we're getting at the moment as the US dollar recoups all its FOMC losses, and in some cases more than that.I...
The USDCAD is back above the cluster of MAs
The USDCAD moved lower with the dollar but as the comments from the Fed chair were sprinkled with the "economy is not doing badly", gave the USD a boost.Looking at the USDCAD, moving below the cluster of MAs between 1.3580 to 1.3588 could not be helped but the 100 bar...
USDJPY moves back above the 100 hour MA at 141.07
The USDJPY has announced higher after all and below the low from last Wednesday at 140.71 but stalling ahead of the December 2023 low price at 140.248. The low price reached 140.43.With the price back above the 100-hour moving average at 141.07, it keeps the buyers in...
Crude oil settles down eight cents at $69.88
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,...
Powell Q&A: We concluded that 50 basis point cut was the right thing
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,...
Powell opening statement: We’re committed to preserving our economy’s strength
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...