Global macro overview for 17/10/2018
October 17, 2018 8:24 amVideo
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- Will the euro manage to save itself? April 17, 2024
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- 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
Mary Daly, the head of the FED of San Francisco and a member of the FOMC, spoke at the question and answer session. Her comments indicate that there are no signs to stop interest rate increases. Inflation is at the target, and the level of full employment has been exceeded in the labor market. The economic growth is also strong.
Asked about the situation on the market, Daly said that the current downward correction does not have to be a negative thing and you should not worry about it hastily. In her opinion, there is rarely one reason why such movements occur.
Coming back to the economy, one of the driving forces behind the current dynamic growth is fiscal policy and financial conditions. An independent central bank is essential for maintaining a healthy economy. These last words are probably a reaction to the words of Trump, who said very little that currently, the biggest threat to his policy is the Federal Reserve. It looks like the US president has found a scapegoat in the event of a country crash.
Let’s now take a look at the US Dollar Index technical picture at the H4 time frame. The market has made a local low at the level of 94.79, just above the 61% Fibo retracement of the previous swing up. When the low was made, the price bounced and now is its way towards the level of 95.38, which is the nearest technical resistance. The larger time frame trend remains up, so the market might again try to resume the rally soon.
The material has been provided by InstaForex Company – www.instaforex.com
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