We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bearish
Bitcoin
Mixed
More View more
Real Time News
  • Trade deal bets kept the Singapore Dollar, Philippine Peso, Indonesian Rupiah and Malaysian Ringgit afloat despite $USD strength. This is the key fundamental driver for #ASEAN FX.Get your market update from @ddubrovskyFX here: https://t.co/aB8qP3JsB4 https://t.co/oAF2XxyNak
  • European Opening Calls from IG: #FTSE 7330 +0.51% #DAX 13262 +0.62% #CAC 5932 +0.52% #AEX 599 +0.61% #MIB 23636 +0.66% #IBEX 9217 +0.47% #STOXX 3712 +0.63%
  • The $USDINR rate could rise as the Nifty 50 sinks after Indian Industrial Production shrank by the most since 2011, fueling RBI rate cut bets amid the ongoing US-China trade war. Get your market update from @ddubrovskyFX here:https://t.co/1PzYH3xCdV https://t.co/AqdtzJN0w1
  • (Analyst Pick) USD/JPY Outlook Bearish on Yen Chart Breakout, Trade Wars $USDJPY #Yen #TradeWars - https://www.dailyfx.com/forex/analyst_picks/todays_picks/daniel_dubrovsky/2019/11/15/USDJPY-Outlook-Bearish-on-Yen-Chart-Breakout-Trade-Wars.html?CHID=9&QPID=917702 https://t.co/5CKAA0e7Pc
  • #GBP, #NOK and #SEK are expected to be the most-active #G10 currencies against the #USD with one-week implied volatility at 7.85, 7.82 and 7.15 respectively [delayed]
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.63%, while traders in France 40 are at opposite extremes with 87.34%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/wyEJd6C1d2
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.18% 🇦🇺AUD: 0.10% 🇳🇿NZD: 0.05% 🇬🇧GBP: -0.00% 🇨🇭CHF: -0.11% 🇯🇵JPY: -0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/PmNFR94G9T
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: France 40: 0.49% Germany 30: 0.49% US 500: 0.37% Wall Street: 0.35% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/36B4iG0q0W
  • A chart from my trading video for today ('S&P 500 Trading Quiet and Divergence Builds Pressure, Dollar, Aussie and Kiwi Drop' https://www.dailyfx.com/forex/video/daily_news_report/2019/11/15/SP-500-Trading-Quiet-and-Divergence-Builds-Pressure-Dollar-Aussie-and-Kiwi-Drop.html?CHID=9&QPID=917719) showing $EURUSD and the Euro volatility index https://t.co/2uMzpD4tuC
  • Why should you set trading goals? How can it help regardless of what your #tradingstyle is? Find out: https://t.co/AYdD7ODlv1 https://t.co/MS0SW4Fozm
Dow Jones, Nasdaq 100, S&P 500 Forecasts Following the Fed's Rate Cut

Dow Jones, Nasdaq 100, S&P 500 Forecasts Following the Fed's Rate Cut

2019-10-30 21:00:00
Peter Hanks, Junior Analyst
Share:

Dow Jones, Nasdaq 100, S&P 500 Forecasts:

Dow Jones, Nasdaq 100, S&P 500 Forecasts Following the Fed's Rate Cut

Stock market participants may have been offered a new reason to be bullish after Wednesday’s Federal Open Market Committee meeting. At the meeting, it was revealed the central bank issued yet another 25-basis point cut, as markets expected. While the materially dovish development should help to buoy equities, it had little impact on the various stock indices – suggesting the rate reduction was already fully priced in. On the other hand, an effectively hawkish decision to remove language of further accommodation initially sparked bearishness, but Chairman Powell’s commitment to sustaining the current expansion outweighed the apparent conclusion of the mid-cycle adjustment.

S&P 500 Price Chart: 1 – Minute Time Frame (October 30) (Chart 1)

S&P 500 Price Chart

To that end, Chairman Powell revealed rate hikes in the near term are highly unlikely. On the matter, Mr. Powell argued the case for rate hikes would require a serious uptick in inflation – a metric that is currently running significantly under target. Consequently, the decision to pause rate cuts accompanied by the assurance that rate hikes are not on the table - unless inflation rises notably - essentially signals the bank’s next move is more likely to be lower than higher and the market’s bullish reaction would suggest a majority of traders arrived at a similar conclusion.

S&P 500 Price Chart: Daily Time Frame (January 2018 – October 2019) (Chart 2)

S&P 500 Price Chart

With that in mind, the Fed’s policy is arguably clearer than what it has been in recent months. Unless inflation rises significantly, there is no reason to hike rates and if data continues to disappoint, the Fed may act as appropriate and lower rates even further. In turn, Chairman Powell’s position could have just laid the groundwork for another leg higher for the Dow Jones, Nasdaq 100 and S&P 500 as the central bank stands to protect economic expansion. With the three markets trading near all-time highs, check out a technical outlook for the indices and follow @PeterHanksFX on Twitter for further updates and analysis.

--Written by Peter Hanks, Junior Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

Read more:Amazon Earnings and Consumer Appetite, Will Trade Wars Steal Christmas?

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.