Interest rates could hit new decade high even if Fed does nothing at its meeting
- The Fed is unlikely to make any new comments at all after its meeting Thursday, but that could cause rates to rise in the bond market.
- Bond strategists say some market players may be looking for the Fed to give a nod to the market volatility that drove the S&P 500 down nearly 7 percent in October.
- The Fed’s statement, at 2 p.m., is expected to keep the Fed on track for further rate hikes, and that could send the 2-year Treasury yield higher, to a new, more than decade peak. Read More @ https://www.cnbc.com/2018/11/08/interest-rates-could-hit-new-decade-high-even-if-fed-does-nothing-at-its-meeting.html
Brexit deal set to be done within a week, EU boss Donald Tusk claims as Theresa May flies to Brussels for talks
After a series of phonecalls earlier this week, the PM will now hold face-to-face talks with other EU leaders over a working dinner with Nato heads tonight; It comes as the PM flies to Brussels tonight, to plead with EU bosses to give her enough time to win round her Cabinet. After a series of phone calls earlier this week, the PM will now hold face-to-face talks with Nato members this evening. She is then expected to gather the Cabinet on Monday or Tuesday to get their blessing for the Brexit deal. Read More @ https://www.thesun.co.uk/news/7688711/brexit-deal-latest-done-week-donald-tusk-theresa-may/
WHAT IS NEXT FOR USD?
USD Rallied back to almost $97 after FED stays on course for December Rate hike; Double Top pressure for price pattern is still in-tact; if breaks we should see new highs for USD.
TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.
- 8.30am – AUD will go to action with RBA monetary policies.
- 9.30am – China will release their CPI & PPI – volatility expected.
- 5.30pm – GBP will go to action with BOE releasing their GDP, Manufacturing, Business Investment and GoodsTrade Balance data and is expected to be good.
- 9.30pm – US will release their Core PPI & wholesale inventories – expected no change.
- 11.00pm – US will release their Uom Consumer sentiment and is expected to be good.
Overall the demand for USD continues; all other major currencies took a beating yesterday. The market will continue to stay volatile as all central banks will start moving forward for rate hike to slow down the market. Easy money will do no good for the global market.
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