Fed picks its side in inflation debate and sends market a message — no rate hikes for years
The Fed does not expect to see inflation pick up for years, and it is willing to keep rates at zero even after it does. Stocks initially surged after the Fed released its post-meeting statement and its latest economic forecast,...
EUR/USD Dropped Below 1.1800
On Wednesday, the EUR/USD currency pair dropped to the support level formed by the weekly and monthly S1s near 1.1760. During today’s morning, the pair reversed north. It is likely that the exchange rate could face the resistance formed by...
Oil Rally Fizzles, Gold Stays Steady
Oil impressive overnight rally peters out Oil prices rocketed higher overnight, as Hurricane Laura worries and a dramatic fall by 4.4 million barrels for US Crude Inventories provoked an aggressive short squeeze of speculative positioning. Brent crude rose 4.0% to...
Oil Bulls Aiming For W H5 Camarilla Pivot
Oil made a retracement and the price bounced again. There are two POC zones where we might expect a bullish bounce. 38.28-38.69 is the first POC zone. There is a confluence of 61.8, W H3 and bullish order block. If...
Fed Shifted to Outcome-Based Forward Guidance, Upgraded Economic Projections
The Fed left the policy rate unchanged at 0-0.25% and the asset purchases program unchanged in September. There are substantial changes in the policy statement, reflecting the formal adoption of average inflation targeting. Updated economic projections revealed a more optimistic...
Dollar Surges as FOMC Risks Cleared, on Asian Risk Aversion
Dollar surges broadly today partly because FOMC announcement and projections overnight removed the risk of extra dovishness. Also, Hong Kong led decline in Asian stocks is providing extra support to the greenback. Yen is following closely as the second strongest...
All-star investor Rich Bernstein: ‘We want to be somewhat optimistic’ and play offense
Institutional Investor Hall of Famer Richard Bernstein predicts more momentum in stocks closely tied to the economy. He expects more enthusiasm surrounding the state of the recovery will drive more investors away from richly valued mega cap growth names, which...
Fed leaves rates unchanged – Three experts on what that means
The Fed left rates unchanged in its last meeting before the 2020 presidential election in November. It also indicated rates were unlikely to rise until at least 2023. Three experts weigh in on what the Fed decision means. David Kelly,...
Yelp data shows 60% of business closures due to the coronavirus pandemic are now permanent
Yelp on Wednesday released its latest Economic Impact Report, revealing business closures across the U.S. are increasing as a result of the coronavirus pandemic’s economic toll. As of Aug, 31, 163,735 businesses have indicated on Yelp that they have closed....
Fed holds rates steady near zero and indicates it will stay there for years
The Federal Reserve kept its pledge to keep interest rates anchored near zero and promised to keep rates there until inflation rises consistently. As the central bank concluded its two-day policy meeting Wednesday, it said short-term rates would remain targeted...
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