Posts Tagged ‘forex’

The Fed Cut Benchmark Rates

May 8th, 2019

The trade in today's dollar The U.S. dollar ended lower, low start in Asia The Fed cut interest rates, but only a 50 BP The stock market was firm Night view The USD will consolidate It should be a calm night session since the data coming tomorrow to Thursday All times EASTERN (-4 GMT) 8:30 am USD Advance GDP q / q 8:30 am USD Advance GDP Price Index q / q 8 : 30am, FOMC Member Kroszner will speak 8:30 am USD Unemployment Claims 10:35 am USD Natural Gas Storage The USD ended the day lower, but still the market volatility, many traders moved to sell positions DOLLARS, and limited volumes exaggerated the move. USD / CAD fell over 400 points, registering the lowest in the 1.2124 area and reaching the 1.2200 area. The market situation is delicate, and the value of oil is estimated that support the loonie and the Euro during the day. Cowan may not feel the same. The EUR traded in the 1.3000 area, and recorded highs in the 1.2993 area and then fall, when volatility dropped, the pair recorded values in the area of 1.2800 for a lapse. Fears of global recession, plus the possible interventions in the market limited the increase in the value of the Yen, however, the center stage today was the announcement of the FOMC interest rate. As was expected, the Fed cut benchmark rates, but expected a bigger cut of 50 BP, several operators said they were "disappointed" as it waited for a bigger cut, but this gives the Fed the possibility of cutting rates in the future if necessary. .