Powell credits Fed policy for the US economy being ‘in a good place’

Powell Says Strong Economy Faces Headwinds as Fed Weighs Policy

Federal Reserve Chairman Jerome Powell said the U.S. economy is strong but could face headwinds next year as policy makers weigh how far and fast to raise interest rates. “We have to be thinking about how much further to raise rates, and the pace at which we will raise rates,” Powell said during a question and answers session Wednesday in Dallas moderated by Dallas Fed chief Robert Kaplan. The goal is to “extend the recovery, expansion, and to keep unemployment low, to keep inflation low.” While generally upbeat about the U.S. economic outlook, Powell listed potential challenges including slowing growth abroad, fading fiscal stimulus and the lagged effect on the economy of the Fed’s eight rate increases since late 2015. Read More @ https://www.bloomberg.com//news/articles/2018-11-15/powell-says-fed-paying-close-attention-to-rate-cycle-impact?srnd=markets-vp

WHAT IS THE USD SAYING NOW?

USD stays firm and tonight retail sales will make USD move; FED optimism of the US economy and more rate hike next year will push the USD for new demands.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.

  1. 09.30am – RBA Debelle speaks – expect some volatility
  2. 5.30pm – UK will release their retail sales – expect GBP volatility.
  3. 6.00pm – EURO will release their Trade Balance – expected to be no change or weak.
  4. 9.30pm – CAD is expected to make its move – we are expecting good data.
  5. 9.30pm – US will release their retail sales – expected to be good as the festive season arrives.
  6. 11.00pm – FOME Member Quarles speaks – expect to be bullish.

The market remains sideways with optimism only for the USD for now; be cautious and always maintain good money management.

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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