Global macro overview for 02/11/2017
November 2, 2017 1:23 pmVideo
Latest News
- Euro will return to parity April 12, 2024
- Trading Signals for ETH/USD (Ethereum) for April 12-15, 2024: buy above $3,435 (3/8 Murray – 200 EMA) April 12, 2024
- EUR/USD. Analysis for April 12th. The euro falls down under the pressure of the news background April 12, 2024
- GBP/USD. Analysis for April 12th. A significant event: the pound fell below the 25-figure April 12, 2024
- Trading Signals for EUR/USD for April 12-15, 2024: buy above 1.0620 (-2/8 Murray – rebound) April 12, 2024
- GBP/USD: trading plan for the US session on April 12th (analysis of morning deals). The pound followed the euro April 12, 2024
- EUR/USD: trading plan for the US session on April 12th (analysis of morning deals). The euro continues to fall April 12, 2024
- EUR/USD and GBP/USD: Technical analysis on April 12 April 12, 2024
- EUR/USD: Dovish signals from the ECB and rising PPI April 12, 2024
- EUR/USD. April 12th. ECB meeting: confidence in rate cut increased in June April 12, 2024
- GBP/USD. April 12th. British economy continues to stagnate April 12, 2024
- Analysis and trading tips for EUR/USD on April 12 (US session) April 12, 2024
- Analysis and trading tips for USD/JPY on April 12 (US session) April 12, 2024
- Analysis and trading tips for GBP/USD on April 12 (US session) April 12, 2024
- Weekly Forex Outlook: 12/04/2024 – More inflation data on the way as rate cut bets in disarray April 12, 2024
- Technical Analysis – GBPUSD ticks down to new 5-month low April 12, 2024
- Bitcoin holds above $70,000 as halving event looms – Crypto News April 12, 2024
- Week Ahead – More inflation data on the way as rate cut bets thrown into disarray April 12, 2024
- Bitcoin will thrive during supply crisis April 12, 2024
- Technical Analysis – EURUSD plummets after US CPI and ECB decision April 12, 2024
The FOMC meeting statement did not bring any surprises. There is a similar optimism regarding economic activity in September. The hurricane-induced decline in employment is combined with an under-declining unemployment rate. At the same time, the Fed highlights the weakness of inflation, although it still assumes it is reaching the 2.0% target in the medium term. In general, the message leaves the door open to a December hike.The US Dollar is on the defensive move due to doubts about the reform of the tax system. It seemed that the specific progress in this field in the previous weeks supported the US Dollar. Now there is a typical chaos of the Trump administration, a lack of details and a collision course with some of the politicians of his own group. The market is also dominated by the belief that J. Powell will be the new Fed head (such a choice is already in prices). It is important to keep in mind that the FOMC’s decision-making structure will change slightly towards “hawkish” bias if the Taylor or Warsh will join to the FOMC Board of Governors – such signals could support the US Dollar across the board.
Let’s now take a look at the US Dollar Index technical picture at the H4 time frame. The price has bounced from the technical support at the level of 94.47 but did not rally yet towards the new high. Nevertheless, the progression of higher highs and higher lows is still continuing and as long as the golden trend line is not violated, the bias remains bullish.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: