Global macro overview for 10/10/2018
October 10, 2018 8:22 amVideo
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
FED Chairman Jerome Powell gave recently speech in Indonesia. He said that the US labor market is “very strong” and inflationary pressure is not yet visible. Transparency and open communication are the keys to minimizing the global misunderstanding of policies and market problems.
The normalization of monetary policy is beneficial for everyone because it reduces the imbalance in the financial markets. So far, the United States has not been repulsed by the Chinese in the trade war. Williams believes that there is currently a large disproportion between the economic situation in the US and the rest of the world. Nevertheless, the FED will likely continue to increase the interest rates as the economy prosper. According to CME FED watch tool, the target possibilities for 8th November FOMC meeting are at the level of 98% for a rate range of 2.00-2.25%, but for the 19th December FOMC meeting are at the level of 81% for a rate hike to 2.5.%.
Let’s now take a look at the EUR/USD technical picture at the H4 time frame. The price of the dollar slightly weakened last night against the euro, but rather it was not influenced by the words of the FOMC member. EUR/USD has found a few pips above 1.15. The next technical resistance is seen at the level of 1.1543 – 1.1550. The momentum is currently neutral as the RSI is on its fifty level, but the move up is a rection for the bullish divergence between the price and momentum. Please notice, the market is bouncing from the oversold conditions, so the move up might be only short-lived.
The material has been provided by InstaForex Company – www.instaforex.com
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