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
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
Gold
Bullish
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • Currency Strategist,@PaulRobinsonFX is a Swing trader. What is your #tradingstyle? Take the quiz and let us know: https://t.co/LPBOcS0Vtd https://t.co/WzRYeqRhUL
  • Despite what your #tradingstyle is, you should be keeping a trading journal. How can you start keeping a trading journal? Find out: https://t.co/0akgWbyJEw https://t.co/4ehMlN4zv1
  • The Euro’s struggle to move higher against a range of currencies continues and without further support this is likely to continue into the year-end. Get your $EURUSD market update from @nickcawley1 here: https://t.co/myZ7R0eGUb https://t.co/12WJd53Cx4
  • The #Dow Jones moved confidently higher last week as it added onto recent gains. Now, #stocks will aim to continue their rally while enjoying support from prior all-time highs. Get your technical analysis on #equities from @PeterHanksFX here: https://t.co/Qb89HIWxBY https://t.co/HMguTvD157
  • How can you trade #forex after a major release? Find out: https://t.co/sdxcXb8q60 #tradingstyle https://t.co/LNcbvVhIc2
  • Have you been catching on your @DailyFX #podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/mk1w1DM2Rh https://t.co/m763epaH2C
  • Crude #oil prices, $NOK and $SEK may rise if Donald Trump’s speech on trade war developments amplifies market buoyancy against the backdrop of critical US CPI and retails sales data. Get your market update from @ZabelinDimitri here:https://t.co/5rdK7xsQNq https://t.co/YnlQjKNZdS
  • RT @next_china: U.S., China chief trade negotiators spoke by phone on Saturday, Xinhua reports https://t.co/dMQtd0g4jY
  • The $AUDUSD and $EURUSD downtrend may prolong as traders counterintuitively buy into their descent. Meanwhile, the USD/CAD uptrend may accelerate on rising net-short bets. Get your market update from @ddubrovskyFX here: https://t.co/dlzJ31kf3f https://t.co/xp8P9MmCgb
  • As we head into next week, Cable is continuing to digest the massive leg higher last month, which at some point soon could mean another surge. Get your $GBPUSD technical analysis from @PaulRobinsonFX here: https://t.co/LJ42YhDe3X https://t.co/5hGwhGBpLB
Strategy Webinar: USD Majors in Focus as FOMC Takes Center Stage

Strategy Webinar: USD Majors in Focus as FOMC Takes Center Stage

2017-06-12 16:00:00
Michael Boutros, Technical Strategist
Share:

Talking Points

  • Review of current / active setups in heading into the FOMC rate decision
  • Updated targets & invalidation levels
  • Join Michael for Live Weekly Trading Webinars on Mondays at 12:30GMT

The FOMC is expected to hike rates for the second time this year by 25bps on Wednesday and heading into the release the focus is on the majors. The DXY turned just pips ahead of key support last week and the focus range into the open is 96.80-97.51.

Markets have largely priced in this hike – the focus will be on the updated quarter projections as they pertain to growth (GDP), employment and inflation. Highlighting the release will be the updated interest rate dot-plots and markets will be eyeing any shifts in the terminal (or longer-running) interest rate which currently stands at roughly 3%.

Growth was disappointing in the first quarter and although the employment picture has remained rather consistent, wages have continued to stagnate (Note that May CPI data is released just hours ahead of the Fed on Wednesday alongside retail sales). With that said, we’ll be looking for remarks by Federal Reserve Chair Janet Yellen in the subsequent presser for more forward guidance and should the committee site concerns over the inflation outlook, interest rate expectations could soften at the expense of the USD. As it stands, markets are pricing a roughly 50% chance we’ll get another hike in December. Keep in mind this week’s hike will be just the fourth since the financial crisis.

See our 2Q projections on the majors in the DailyFX Trading Forecasts.

In this webinar we discussed textbook examples of basic median-line analysis and reviewed both current and pending setups & updated technical levels on DXY, EURUSD, GBPUSD, AUDUSD, USDCAD, USDJPY, NZDUSD, EURCAD, NATGAS, Crude, Gold, GBPJPY and SPX500.

What do shifts in retail positioning hint about the broader trend? Learn how Sentiment can help your trading in this free guide!

---

Key Data Releases

Strategy Webinar: USD Majors in Focus as FOMC Takes Center Stage

Other Setups in Play:

---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michaelon Twitter @MBForex contact him at mboutros@dailyfx.com or Click Here to be added to his email distribution list.

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

DISCLOSURES

News & Analysis at your fingertips.