FOMC Hikes Policy Rate by 75 Basis Points, Signals Many More to Come
The Federal Reserve Open Market Committee (FOMC) lifted the federal funds rate to the 3.0% to 3.25% range and reaffirmed a continuation of its balance sheet runoff. The Fed updated its language stating that “recent indicators point to modest growth...
AUDUSD Wave Analysis
AUDUSD broke key support level 0.6700 Likely to fall to support level 0.6600 AUDUSD currency pair recently broke the key support level 0.6700 (previous monthly low from July, which also reversed the pair earlier this month). The breakout of the...
US Dollar Index Reaches Highest Level Since June 2002 ahead of the Fed
The US Dollar Index (DXY) reached its highest level in over 20 years today rising to an intra-day high of 110.87, eclipsing the September 7th highs of 110.79. With the FOMC meeting concluding today, the central bank is expected to...
Pound Falls to New 37-year Low, Fed Looms
The British pound continues to lose ground. GBP/USD is trading at 1.3436. down 0.33%. Earlier in the day, the pound fell to 1.1304, its lowest level since 1985. Fed expected to hike by 0.75% The Federal Reserve holds its policy...
XAG/USD: The Price in Bearish Correction (b) May Fall to 15.055
XAGUSD seems to be forming a correction wave b of the cycle degree, which is part of the global zigzag. It is assumed that the correction b is a primary triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The first four parts of it have...
AUD/USD At Risk of More Losses, Fed Decision Next
Key Highlights AUD/USD declined below the key support at 0.6780. It is facing resistance near 0.6750 and 0.6780 on the 4-hours chart. Gold and crude oil price is showing signs of bearish continuation. The Fed interest rate decision is scheduled...
EUR/USD: Euro Loses Steam on Disappointing Economic Data, All Eyes on Fed
The Euro turned to red in European trading on Tuesday, following a four-day recovery after a sharp post-US inflation report’s drop. Bounce rose above parity level but failed to register a clear break higher. Underlying bears received fresh support today...
Another Fed Hike is Coming; Mind the Dots
We have a very busy week ahead of us with four central bank meetings on the agenda, but the one to stand out may be the FOMC decision, scheduled on Wednesday at 18:00 GMT. Following last week’s hotter-than-expected CPIs for...
Natural Gas Futures Drop Sharply after Rebound Falters
Natural gas futures (October 2022 delivery) have drifted lower again after their recent advance failed to cross above the 9.210 mark. Even though the latest downward spike seems to have encountered significant support at the lower Bollinger band, the near-term technical picture is constantly deteriorating. The momentum indicators...
Week Ahead: It’s all about the FOMC and the BOE
The focus for the markets this week will be on the FOMC meeting on Wednesday and the BOE meeting on Thursday. Both central banks are expected to high rates. Monday will be the funeral for Queen Elizabeth II. As a...