Subscribe to RSS

FOMC meeting minutes doves expose USD to more pressures

Global Markets

The dovish FOMC meeting minutes dealt a sharp blow to the already vulnerable Dollar on Thursday. September’s meeting minutes continued to lack any real direction on when the US central bank will begin raising interest rates. While most members of the Federal Reserve are giving indications that the conditions for hiking US rates in 2015 are close to being achieved, the persistent concerns about low inflation, with this being weighed further down by depressed commodity prices, are acting as a barrier. An additional prerequisite for a hike remains further progress in the labour force but considering the widespread disappointment with the recent NFP report which was released before the FOMC meeting, traders are finding compelling reasons to suggest that a 2015 rate hike is fading into the distance.

The Sterling declined against most of its counterparts excluding the USD and JPY as a result of the BoE maintaining its bank rate at 0.5%. Even though the UK economy has been able to withstand some international pressures, persistent weakness in the UK inflation level has offered the BoE a solid reason to hold off raising UK interest rates until 2016. This can be seen in the GBPAUD which has sunk below the 2.1100 support; however any further GBP weakness will encourage a further decline to the next relevant support at 2.0900.

Although the GBP continues to be exposed to pressures, the FTSE100 has enjoyed the recent positive momentum and will conclude the week with further confidence following another WTI rally providing a bounce in oil stocks. Speaking of global equity markets, they concluded the day positively following the FOMC minutes. The rally in Wall Street may disorient some, especially considering that there is widespread confusion on when the Fed will finally begin raising US interest rates. For now though, investors are being tempted into the equity markets with the thought that if US rates are left unchanged for longer than expected and with the additional WTI rally, that this would also help sentiment. Any further fears on global economic health would be as this risk which may translate to a buildup of anxiety and more erratic moves in the global markets.

NZDJPY

The NZDJPY is technical bullish on the daily timeframe. Prices have breached the previous lower high of 78.80 and the MACD has crossed to the upside. With the candlesticks based above the daily 20 SMA, the next relevant resistance is based at 82.00.

NZDJPY

EURCAD

The EURCAD remains technically bearish on the daily timeframe. Prices are trading below the daily 20 SMA and the MACD has crossed to the downside. A clear break below the 1.4650 support may open a path to the next relevant support at 1.4390.

EURCAD

EURNZD

After an extended period of consolidation the EURNZD has become technically bearish on the daily timeframe. A breach below the 1.7250 has opened a path to the next relevant support at 1.6700.

EURNZD

AUDJPY

The AUDJPY is in the process of turning technically bullish on the daily timeframe. A solid breach and daily close above the 87.50 resistance may open a path to the next relevant level based at 89.50. Prices must keep above the 86.00 support for this view to remain valid.

AUDJPY

fxtm

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

123% Tradable Deposit Bonus Promotion – FreshForex

123% Tradable Deposit Bonus Promotion – FreshForex(0)

Get 123% Tradable Deposit Bonus Promotion gives a real chance to start Forex trading with low investment and double return. Start efficient Forex trading with Tradable Bonus 123% Campaign. Link:  123% Tradable Deposit Bonus Promotion Link:  $5 Forex No Bonus Promotion Ending Date:  31 December 2017 Available to:   New Clients only Bonus Offer: Get 123%

500 Cent Forex No Deposit Welcome Bonus – FortFs

500 Cent Forex No Deposit Welcome Bonus – FortFs(0)

Get 500 Cent Forex No Deposit Welcome Bonus 2017-2018 to All New Traders. Open a forex real trading account, pass the personal data verification procedure and get the 500 Cent Free Forex Welcome Bonus! Link:  Up to 50% Bonus of Every Deposit Link:  500 Cent Forex No Deposit Bonus Link:  15% Support Margin Bonus Available

$10000 Monthly Challenge Live Trading Contest – FXCM

$10000 Monthly Challenge Live Trading Contest – FXCM(0)

$10,000 Monthly Challenge Live Trading Contest Compete to Win Cash Prizes. The Contest only available to FXCM Mini Account clients Join the monthly Live Trading Contest by opening an FXCM Mini Account with as little as $50. Link:  $10000 Monthly Challenge Contest Available to: All Mini Account clients Contest offer: $10,000 Monthly Challenge Live Trading

$1000 Free No Deposit Forex Bonus – Grand Capital

$1000 Free No Deposit Forex Bonus – Grand Capital(0)

Contests for Forex trader Main Prize $1000 Free No Deposit Forex Bonus. The Contests main prize is $1000 Free No Deposit Forex Bonus with fully withdraw able profit Link:  $1000 Free Bonus‎ Trader Contest Link:  $500 Forex No Deposit Welcome Bonus Link:  Up to 444% Profit Receive for a single trade Link:  40% Forex Deposit

Up to $5000 Trading Credits Bonus Promo – HYCM

Up to $5000 Trading Credits Bonus Promo – HYCM(0)

25% Forex Credit Bonus Promo available on your Deposits. Experience Some of HYCM New Features, Services and Offers Receive 25% Forex trading credit bonus Link:  25% Trading Bonus on your Deposits Ending Date:  31 December 2017 Available to:   New Clients only Bonus Offer: 25% Forex Trading Bonus Promo Available on your deposits to New Clients only.

$20 Forex No Deposit  Bonus Promo Action – NPBFX

$20 Forex No Deposit Bonus Promo Action – NPBFX(0)

$20 Free No Deposit Bonus Promo action. $20 Free No Deposit Bonus Client must submit application of requesting the accrual of bonus funds with indicating the number of trading account by email  info@npbfx.com. Link:  $20 Free Bonus Promo Action Ending Date:  1 March 2017 Available to:   New Clients only Bonus Offer: $20 Free No Deposit

300% Forex Tradable Bonus Promotion 2017 – MarketsYes

300% Forex Tradable Bonus Promotion 2017 – MarketsYes(0)

300% Forex Tradable Bonus Promotion All New and existing clients. MarketsYes is offering all prospective clients deposit for up to 3000 USD/EUR/GBP a 300% Tradable Bonus. Link:  300% Tradable Bonus Promotion Available to: All New and existing clients Ending Date: 31 December 2017 Bonus offer:  300% Tradable Bonus Promotion All New and existing clients. SETTLEMENT

FX Zones Forex Demo Trading Contests – Forex Time

FX Zones Forex Demo Trading Contests – Forex Time(0)

FX Zones Forex Demo Trading Contests 2017 Win up to a total of $12,000. ForexTime is doing something extra special with its trading contests this year, starting with FX Zones Forex Demo Trading Contest  2017 Link:  Demo Forex Trading Contest Link:  Loyalty Cashback Promotions Link:  200% Withdraw-able Cashback Rebates Available to:   New Clients only Contest

Get $88.8 Forex Free No Deposit Bonus – FBS Inc

Get $88.8 Forex Free No Deposit Bonus – FBS Inc(0)

Get $88.8 Forex Free No Deposit Bonus when you open your first FBS Real Account. The $88.8 Free Forex bonuses is credited automatically after account opening, upon verification of the clients phone number and e-mail. Link:  $123 Forex No Deposit Bonus Promotion Link:  $88.8 Lucky No Deposit Required Bonus (for Malaysian traders) Link:  100% Forex

100% Welcome Bonus to Your First Deposit – AvaTrade

100% Welcome Bonus to Your First Deposit – AvaTrade(0)

100% Special Welcome Bonus Offer to your first deposit Up to $300. Start trading today and in honor of our Irish roots we’ll give you a St. Patrick Day special Welcome bonus of up to 100% Link:  100% Special Bonus to Your First Deposit Available to: All new account Ending Date: 31 December 2017 Bonus

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories