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

FX Circuits Live Forex Trading Contest – Forex Time

FX Circuits Live Forex Trading Contest – Forex Time(0)

ForexTime latest Live Contest Win cash prizes from a $400,000 total prize pool. FX Circuits rewarding clients with real, withdrawable from a $400000 total prize pool.* Link:  FX Circuits Live Trading Contest Link:  Demo Forex Trading Contest Link:  Loyalty Cashback Promotions Link:  200% Withdraw able Cashback Rebates Available to:   New Clients only Contest Offer: ForexTime

20% Unlimited Bonus on Your First Deposit – FidelisCM

20% Unlimited Bonus on Your First Deposit – FidelisCM(0)

20% Unlimited Bonus On Your First Deposit to All new traders. If you have a $30 Deposit Account with FidelisCM then add wings to your ambitions and receive a 20% Tradable Bonus Link:  20% Bonus On Your First Deposit Available to: All new traders Ending Date: 30 June 2017 Bonus Offer: Get 20% Unlimited Bonus

100% Real Money Cash-Back Bonus Promotion – UFX

100% Real Money Cash-Back Bonus Promotion – UFX(0)

100% Real Money Forex CashBack Promotion to all new and existing clients. Join and gain exclusive access to the ONLY online trading 100% Forex Cashback rewards bonus program Link:  $5000 BitCoin Rewards Bonus Promo Link:  $50 Forex No Deposit Special Bonus Link:  $50 Free No Deposit Bitcoin Bonus Link:  100% Real Money CashBack Promotion Bonus

Get 25 EUR Welcome Free Forex Promotion – Tradeiam

Get 25 EUR Welcome Free Forex Promotion – Tradeiam(0)

Get 25 EUR Welcome Free Forex Promotion first 100 persons who become a client of the Tradeiam Company in any country. The Free Bonus amount of €25 will be deposited by the Company in the Clients Trading Account Link:  25 EUR Free Welcome Promotion Available to: All new traders Ending Date: 31 December 2018 Bonus

100% Bonus on your $100 Minimum Deposit – AvaTrade

100% Bonus on your $100 Minimum Deposit – AvaTrade(0)

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

100% Binary Cash Match up to $1000 – Markets World

100% Binary Cash Match up to $1000 – Markets World(0)

100% Binary Options Cash Match up to $1000. We’ll match your first deposit with up to $1000 To claim this match , simply enter voucher code 100CM in the deposit section. Link:  $10 Binary Options No Deposit Bonus Link:  100% Binary Options Deposit Bonus Bonus Ending Date: 31 December 2018 100% Binary Options Cash Match

Free Forex Trading Signals via SMS and Email – Trade12

Free Forex Trading Signals via SMS and Email – Trade12(0)

Receive Forex Trading Signals for Free via Phone SMS and Email to all Trade12 new traders and 100% Forex Welcome Deposit Bonus to your Live Trading Account. Link:  Free Daily Forex Trading Signals Link:  Get 100% Welcome Deposit Bonus Link:  50% Exclusive Deposit Bonus Available to: All new clients Ending Date: 31 December 2016 Bonus

$100 Free Bonus and $30 No Deposit Bonus – AYREX

$100 Free Bonus and $30 No Deposit Bonus – AYREX(0)

$100 Free Win in just one hour No deposit required bonus Binary Blast the Contest is a competition open to all AYREX account holders via demo accounts created automatically upon registration and used solely for contest participation Link:  $100 Free Win in Just One Hour Link:  $30 Binary Options No Deposit Bonus Link:  30% Binary

Welcome Bonus Account Risk-Free with $30 – Tickmill

Welcome Bonus Account Risk-Free with $30 – Tickmill(0)

Free Welcome Bonus Account Risk-Free with $30. Experience one of the best forex trading environments in the industry risk-free with $30 Welcome Bonus Account. Link:  Weekly Demo Race Trading Contest Link:  $30 Forex Free Welcome Bonus Link:  Forex Monthly Live Trading Contest Available to: All new traders Ending Date: 31 December 2018 Bonus Offer: Free

Earn $30 Forex Trade-able Credit Bonus – Forex Time

Earn $30 Forex Trade-able Credit Bonus – Forex Time(0)

Switch to ForexTime and Earn $30 Forex Trade able Credit Bonus. Join the hundreds of thousands of traders around the world who have already chosen ForexTime as a broker and Earn $30 tradeable credit as a thank you for switching. Link:  Receive $30 Tradeable Credit Bonus Link:  Loyalty Cashback Promotions Link:  $4 Cashback back for

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