The much anticipated FOMC statement was released on Wednesday and while it was widely expected US rates to be left unchanged, the cautionary tone of the statement dealt a blow to global confidence. The current financial environment may not warrant a rate hike but with the March meeting still seven trading weeks away, a lot can change. WTI Oil experienced a sharp rise as speculations grew around Russia and OPEC forming a deal to slash production.
– The EURUSD is flat but a daily close below 1.080 should encourage a selloff towards 1.070
– The GBPUSD is bearish and the momentum should send prices towards 1.4150
– WTI is bearish, if $33 can defend then prices may decline towards $30
The much anticipated FOMC statement was released on Wednesday and while it was widely expected US rates to be left unchanged, the cautionary tone of the statement dealt a blow to global confidence. The current financial environment may not warrant a rate hike but with the March meeting still seven trading weeks away, a lot can change. WTI Oil experienced a sharp rise as speculations grew around Russia and OPEC forming a deal to slash production.
– The EURUSD is flat but a daily close below 1.080 should encourage a selloff towards 1.070
– The GBPUSD is bearish and the momentum should send prices towards 1.4150
– WTI is bearish, if $33 can defend then prices may decline towards $30
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