US Dollar Price Action Setups Pre-FOMC: EUR/USD, SPX, Gold
Markets are coiled and ready for tomorrow’s FOMC rate decision as the Fed nears a shift back into a pattern of tightening. The question now is by how much and how soon.
Markets are coiled and ready for tomorrow’s FOMC rate decision as the Fed nears a shift back into a pattern of tightening. The question now is by how much and how soon.
The Nasdaq 100 gives up gains and ends the day sharply lower as traders become increasingly concerned about the Fed policy outlook and its implications for valuations and the economy
The S&P 500 gave back overnight gains in a choppy session as market participants looked to Apple earnings after the closing bell.
Fresh data prints coming out of the US economy may push USD/CAD towards the monthly high (1.2814) as inflation is expected to increase for the fourth consecutive month.
Bitcoin (BTC) prices have recovered slightly after failing to breach $32,000. With the Fed rate decision on the horizon, key technical levels remain intact.
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The British Pound (GBP) continues to decline against the greenback after hawkish Fed press boosts demand for the safe-haven Dollar
The Euro curiously managed to hold up even as some major currencies sank against the US Dollar while brutal selling gripped global stock markets.
GDP’s annual growth rate is 6.9% for Q4 of 2021 despite the surge of Omicron, beating median 5.5% estimates.
The MPC has unsurprisingly decided to increase the repo rate by 25bps from 3.75% to 4%. USD/ZAR reaction muted after markets priced in rate hike.