Sep 17: all eyes on the Fed

17 September, 2013

US dollar is trading near a 4-week low on Tuesday as traders wait for the outcome of the Federal Fed’s 2-day policy meeting at which it’s expected to announce a modest reduction in its bond-buying stimulus. Also pay attention to US CPI data at 12:30 GMT.

EUR/USD is consolidating in the $1.3325/42 range. Yesterday the pair closed 60 pips lower from the $1.3385 high, but left the opening bullish gap open. Pay attention to the ZEW sentiment indices at 9:00 GMT – they are expected to reach the new highs. GBP/USD strengthened from the daily low of $1.5888 to $1.5915. Great Britain will release a bunch of inflation data at 8:30 GMT.

USD/JPY rose to 99.35. USD/CHF is correcting down a bit after it added about 40 pips yesterday to 0.9278. AUD/USD is trading just above $0.9300 after it tested $0.8185 earlier today. Aussie weakened after the minutes of the Reserve Bank of Australia’s last policy meeting released today showed that the central bank retains the option of reducing interest rates and said a further decline in the local currency would aid the economy. NZD/USD closed yesterday below the 200-day MA at $0.8180. Kiwi’s supported around $0.8155. USD/CAD has slightly recovered from the yesterday’s low of 1.0280 to 1.0325.


Source link  
Will EUR/JPY resume the downtrend?

EUR/JPY spent more than a month correcting up after its spike down at the start of January. It seems that the time the downtrend finally resumes is getting nearer...

How the Fed may affect the USD?

As you may know, the Federal Reserve will announce its official rate and publish its monetary policy statement today at 21:00 MT time. The release...

Will oil outperform its triumph?

During 2018, the world was waiting for oil at $100. However, the oil market ended the year at lows of 2017. Will 2019 bring the momentum to oil prices...


Which assets will outperform in 2019?

The market sentiment may be positive or negative. When investors have risk appetite, they choose higher-yielding currencies like the AUD...

Bulls going to deliver wave 5

There's a possible triangle pattern in wave 4. So, if the price fixates above 6/8 MM Level, bulls are likely going to deliver wave 5. In this case, we should...

Market going to climb even higher

The last "Flag" pattern has been broken, so the price is rising. The main intraday target is the nearest resistance at 1.3345 - 1.3374. If a pullback...


Euro area's PMI

The euro area will release manufacturing and services PMI at 10:00 MT time on August 22. PMI or Purchasing Managers Indexes come from surveys of purchasing managers in manufacturing...

RBA meeting will set the way for AUD

The monetary policy of the Reserve Bank of Australia (RBA) is the key driver of the Australian dollar. The RBA will announce the results of its August meeting...

German IFO business climate

German Ifo business climate will be out at 11:00 MT time on July 25. Germany is the leading economy in the eurozone, so significant changes...

  


Share it on:   or