Fed lifts U.S. rates by quarter percentage point

The U.S. Federal Reserve raised interest rates on Wednesday, as expected, and left its monetary policy outlook for the coming years largely unchanged amid steady economic growth and a strong job market. In a policy statement that marked the end of the era of “accommodative” monetary policy, Fed policymakers lifted the benchmark overnight lending rate by a quarter of a percentage point to a range of 2.00 percent to 2.25 percent. It still foresees another rate hike in December, three more next year, and one increase in 2020. Read More @ https://www.reuters.com/article/us-usa-fed-instantview/instant-view-analysts-react-to-fed-rate-hike-idUSKCN1M62N9

U.S.-Canada NAFTA fight looks set to run past this week’s deadline

The U.S. has said it will sign a deal with Mexico by the end of November, with or without Canada;  Canada is signalling that this week’s NAFTA deadline could come and go without a deal — with Prime Minister Justin Trudeau citing a “range of paths” forward while his U.S. envoy digs in on two issues. Trudeau and David MacNaughton, the ambassador to Washington, each addressed the North American Free Trade Agreement in separate appearances on Wednesday, striking upbeat tones without giving any indication of a frenzied push to reach an agreement. The U.S. is planning to publish the text of its deal with Mexico on Friday, three people familiar with the matter said. Trudeau, however, downplayed the urgency of that deadline. Read More @ https://business.financialpost.com/news/economy/u-s-canada-nafta-fight-set-to-run-past-its-latest-deadline

WHAT IS THE USD INDEX SAYING?

The USD stays at re-test line and below $94; the market have already priced in FED Rate Hike; now we just wait for the price to break the re-test line or the support at $93.50. President Trump will not be happy with a strong dollar moving forward as he maintains the trade war.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.

  1. 2.00pm – Germany will release their consumer climate – expect price movement. We buy EURO.
  2. All Day – Germany will release their Prelim CPI data – expected volatility.
  3. 4.00pm – ECB will release their Economic Bulletin – It reveals the statistical data that the ECB Governing Board evaluated when making the latest interest rate decision, and provides detailed analysis of current and future economic conditions from the bank’s viewpoint.
  4. 8.30pm – US will release their Core durables Orders – t’s a leading indicator of production – rising purchase orders signal that manufacturers will increase activity as they work to fill the orders – volatility expected. US will also release their GDP today – expect volatility after this morning hawkish statement from the FED. We are expecting no change to GDP data.
  5. 9.30pm – ECB Mario Draghi will speak – expect price movements for EUR pairs.
  6. 10.00pm – US will release pending homes sales – which is a leading Indicator.

Overall the market is still fragile with lose monetary policies and low lending rates across the central banks – 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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