Author: FX
FOMC INTEREST RATE DECISION KEY POINTSThe Fed holds interest rates steady at its January meeting, in line with expectationsPolicymakers drop their tightening bias in favor of a more neutral stance, but signal a rate cut is not imminentGold price trim gains as the U.S. dollar and yields attempt to mount a recovery Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: US Dollar Tech Setups– EUR/USD, GBP/USD, USD/JPY, USD/CAD; Volatility AheadThe Federal Reserve concluded its first monetary policy gathering of 2024 today and voted by…
The full statement from the January 2024 Federal Reserve meeting:January 31, 2024Federal Reserve issues FOMC statementFor release at 2:00 p.m. ESTRecent indicators suggest that economic activity has been expanding at a solid pace. Job gains have moderated since early last year but remain strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated.The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals are moving into better balance. The economic outlook…
Share: The Canadian Dollar recovered some ground after GDP surprised to the upside. Canada saw 0.2% GDP growth in November, which beat consensus. Fed rate call and press conference due in the latter half of the US trading session. The Canadian Dollar (CAD) edged higher on Wednesday after Canadian Gross Domestic Product (GDP) figures beat expectations to post growth for the first time since May. The Federal Reserve’s latest rate call is due at 19:00 GMT, with a press conference to be headed by Fed Chairman Jerome Powell at 19:30 GMT. Canada saw growth in its MoM GDP…
Cable (GBP/USD) Analysis Recommended by Richard Snow Get Your Free GBP Forecast A Big Couple of Days for Major Central Bankers (Fed, BoE)The Fed is all set to provide an update on its policy settings but there is a strong expectations there will be no change in the interest rate. Instead, markets are looking for clues on the bank’s thinking and whether a March or May cut is preferred. However, the data-dependent Fed is more likely to bide its time, opting to digest incoming data before making such a decision.Then tomorrow the Bank of England (BoE) will have its turn…
franckreporter/iStock via Getty Images AllianceBernstein indicated that investors should consider opportunities in places such as quality growth, value, high dividend, and low volatility positions. The investment institution highlighted that the U.S. consumer has supported growth so far this year, but the firm anticipates that the edge will begin to ease off this year largely in part because physical support has been taken away. From a macro snapshot AllianceBernstein said: “Core inflation should tail off toward 2.5%, with real GDP growth moderating to a below-trend 0.8%. Rate cuts, which will likely kick off around midyear, will likely end up somewhere between…
© Reuters. FILE PHOTO: People carry their shopping bags in downtown Hamburg, Germany, January 25, 2018. REUTERS/Fabian Bimmer//File Photo By Maria Martinez BERLIN (Reuters) -German inflation eased slightly more than expected in January to 3.1%, preliminary data from the federal statistics office showed on Wednesday, helped by a drop in energy prices. German consumer prices, harmonised to compare with other European Union countries, had risen by 3.8% year-on-year in December. “The drop in German inflation will fuel speculation about an early European Central Bank rate cut, but underneath a favourable headline inflation there are still enough price pressures to worry…
EUR/USD Forecast – Prices, Charts, and AnalysisGerman inflation continues to fall as energy costs tumble.FOMC and US NFPs will steer EUR/USD in the short term.Download our Q1 Euro Technical and Fundamental Reports Below: Recommended by Nick Cawley Get Your Free EUR Forecast Most Read: Euro (EUR/USD) Pares Recent Losses After German and Euro Aera Q4 ReleasesGerman inflation fell by more than expected in January, official data showed today, hitting the lowest level since June 2021, as goods inflation fell sharply. Energy costs fell by 2.8%, compared to a 4.1% increase in December, while food inflation fell from 4.5% to 3.8%.For…
Japanese Yen (USD/JPY) Analysis and ChartsUSD/JPY has ticked up for a second straight sessionHowever it remains confined to its broad trading rangeThe Fed isn’t expected to move on rates, but will it push back market views of when it might?Learn How to Trade USD/JPY with our Free Guide Recommended by David Cottle How to Trade USD/JPY The Japanese Yen is a little weaker against a United States Dollar benefitting from some general strength as markets await the Federal Reserve’s first interest-rate call of the year.That will be coming up after European markets wind down on Wednesday, at 1900 GMT. The…
Prior +3.7%Market index 202.5 vs 218.2 priorPurchase index 154.5 vs 174.3 priorRefinance index 445.6 vs 438.4 prior30-year mortgage rate 6.78% vs 6.78% prior This article was written by Justin Low at www.forexlive.com. Source link
FTSE 100, DAX 40, and S&P 500 Analysis and ChartsFTSE 100 continues to grind higherThe FTSE 100’s swift advance on Friday amid rallying luxury good stocks and general risk-on sentiment has slowed but the index remains bid ahead of Thursday’s Bank of England (BoE) monetary policy meeting. A rise above Tuesday’s 7,685 high would engage the 11 January high at 7,694 and also the mid-October high at 7,702.Minor support below Friday’s high and Tuesday’s low at 7,653 to 7,642 can be found around the 12 December 7,609 high and at the 16 January 7,587 high.FTSE 100 Daily ChartRetail trader data…