Global macro overview for 06/03/2017
March 6, 2017 9:11 amVideo
Latest News
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- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
- EUR/USD: trading tips for beginners for European session on April 16 April 16, 2024
Global macro overview for 06/03/2017:
Last week began with markets pricing in about a 50% chance of a hike in the federal funds rate at the Federal Open Market Committee meeting this month but ended with markets almost fully pricing in a quarter-percent hike. The set of comments from FED policymakers on Friday, including FED Chairperson Janet Yellen, indicated that a rate hike was near, perhaps at next week’s monetary policy meeting. Bill Dudley, New York Federal Reserve President said last Friday: “I think the case for monetary policy tightening has become a lot more compelling”, and the other Fed officials remarks were as hawkish as his. Even Yellen again reiterated her hawkish statement, saying: “We currently judge that it will be appropriate to gradually increase the federal funds rate if the economic data continue to come in about as we expect”, and: “Indeed, at our meeting later this month, the Committee will evaluate whether employment and inflation are continuing to evolve in line with our expectations, in which case a further adjustment of the federal funds rate would likely be appropriate”. In conclusion, the hawkish statements are very popular among the Fed policymakers, so the question remains: will the Fed deliver on March 15th and how much of the rate hike expectations are already priced-in?
Let’s now take a look at a Gold technical picture at the H4 time frame. The price violated the technical support at the level of 1,225, but no follow through occurred so far. The price is now trading just below the technical resistance at the level of 1,236 and due to the oversold market conditions might try to break out above this level and test the golden trend line again from the below.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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