Fed’s Powell, in apparent dovish shift, says rates near neutral

U.S. Federal Reserve Chair Jerome Powell injected investors with a strong dose of optimism on Wednesday, saying that the central bank’s policy rate is now “just below” estimates of a level that neither brakes nor boosts a healthy U.S. economy, comments that many investors read as signaling the Fed’s three-year tightening cycle is drawing to a close. Read More @ https://www.reuters.com/article/us-usa-fed-powell/feds-powell-in-apparent-dovish-shift-says-rates-near-neutral-idUSKCN1NX286?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

ECB’s Lane says don’t be ‘overly dramatic’ about slowdown

It is important not to be overly dramatic about a loss of some momentum in the euro zone economy, which to a large extent is a reversal of a better-than-expected 2017, European Central Bank governing council member Philip Lane said on Wednesday. The ECB plans to end its 2.6 trillion-euro bond purchase scheme this year and raise interest rates next autumn for the first time in years, but growth has been disappointing since the summer. Lane’s comments were in line with those of his boss, ECB President Mario Draghi, who said this week that the slowdown was mostly normal and not enough to derail plans to dial back stimulus. Read More @ https://www.reuters.com/article/us-ecb-policy-lane/ecbs-lane-says-dont-be-overly-dramatic-about-slowdown-idUSKCN1NX1XX

WHAT IS THE USD INDEX TECHNICAL CHART SAYING?

USD Pullback is a good sign for next rally – be cautious as the FED puts brake on further rate hike and normalisation process – we believe the FED won’t stop the rate hike moving forward. USD will continue its technical move to $98-100.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.

  1. ALL DAY – Germany will release their CPI data – volatility is expected – no change change to data is expected.
  2. 3.45pm – FRANCE & SPAIN will release their consumer spending and CPI data – volatility is expected.
  3. 4.00pm – Mario Draghi ECB will speak and WE EXPECT no change to his tone. We maintain SELL.
  4. 4.55pm – Germany will release their Unemployment change – expected to be good.
  5. TENTATIVE – ECB will release Financial Stability Review – It’s an assessment of conditions in the financial system and potential risks to financial stability – the evidence on strains and imbalances can provide insight into the future of monetary policy.
  6. 9.30pm – Canada will release their Current account data and is expected to be weak. We maintain SELL for CAD.
  7. 9.30pm – US will release their – CORE PCE price index, Personal spending, Personal Income and unemployment – all are expected to be good. We maintain BUY for USD.
  8. 11.00pm – US will release Home Sales – which is a leading economic indicator. Expected to be good.

High Risk Investment Warning:

Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary.

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