– The decline in the price of bitcoin and other cryptocurrencies this week is most likely due to investors anticipating the upcoming decision by the US Federal Reserve regarding a rate cut. The announcement will be made following the conclusion of the meeting on 18 September. However, as some analysts have noted, the timing of…
Fundamental Overview Last Thursday, WSJ’s Timiraos published an article which seemed suggesting that a 50 bps cut was still being discussed. The market responded by raising 50 bps cut probabilities to around 40% from 13% before the news. Nick Timiraos is considered a Fed “insider”, so the market is attentive to all of his pieces…
With the Federal Reserve likely to implement monetary policy that is already fully anticipated, the dollar has a bearish outlook. This suggests that the GBPUSD market is targeting a previously reached resistance. Let’s take a closer look. Key Price Levels:Resistance Levels: 1.3300, 1.3500, 1.3700Support Levels: 1.3200, 1.3000, 1.2800 GBPUSD Trades Above an Important Level Price…
Will There Be a Forex Trading Surprise This Week? – Forex Forum September 16, 2024 /Posted byGVI Forex / 80 / Source link
Will the Fed Cut Rates by 25 or 50 bps.? – Forex Forum September 16, 2024 /Posted byGVI Forex / 467 / Source link
Weekly FX Chart Outlook Sept 16-20 If you are looking to trade the news in the you will find plenty to focus on in the week ahead. This should be a week where the reaction to new will likely be more important than the news itself baring any surprises. While there is a full…
EUR/USD: Storms and Tempests on September 18, 19, and 20 ● The past week can be divided into two parts – from September 9 to 11, and from the 12th to the 13th. Initially, the dollar strengthened, then it lost ground. The trend shift occurred after data released on Wednesday, September 11, indicated a…
GBP/USD tallied another day of losses falling below 1.3050. US CPI came in mixed and markets reduced the odds of a 50 bps cut. Earlier in the session the UK reported weak GDP figures. The GBP/USD pair remains under pressure, trading near 1.3045 as the market reacted to the latest US inflation data. Economic activity…
A Fresh USDJPY Update from the Savvy Trader – Forex Forum September 11, 2024 /Posted byGVI Forex / 76 / Source link
Fundamentals surrounding the US dollar suggest that the greenback is gaining traction. Consequently, this has initiated a continued downward correction in the GBP/USD pair. From the better-than-expected Nonfarm payroll data to the decreasing unemployment rate, the US seems to be performing well. This may influence the upcoming rate cut. Key Price Levels:Resistance Levels: 1.3100, 1.3250,…