News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/WQLZ1X7gIY
  • but the next major point in my view to monitor will be 52.76 - at least in the short term.
  • #Brent having broken above the pre-OPEC drop off at 45.51 is a huge deal considering it failed to crack resistance there in August (leading to the invalidation of "uptrend 2") and the psychological significance of that level https://t.co/LkEyRxFhnq
  • The New Zealand Dollar looks poised to extend its push higher against its haven-associated counterparts on robust economic data and a less dovish stance from the RBNZ. Get your $NZD market update from @DanielGMoss here:https://t.co/vytr4OR1Jy https://t.co/ZcxEUWIm8O
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2020? Find out from @JohnKicklighter here: https://t.co/1oeXWEsJkb https://t.co/x8uyOHLtgE
  • The Swiss Franc may continue higher against the US Dollar as technical pressure favors USD/CHF bears..Get your $USDCHF market update from @FxWestwater here:https://t.co/yqJbbhAWiu https://t.co/CaMR0Vqd1m
  • The US Dollar lost ground to most ASEAN currencies as Emerging Market assets climbed despite US economic woes. USD/INR is eyeing third-quarter Indian GDP at the end of the week. Get your market update from @ddubrovskyFX here:https://t.co/urDN2b5Nwd https://t.co/toSDbVZCSi
  • The global stock market can be categorized into specific groups or ‘stock market sectors’. Organizing the vast number of stocks in this way helps traders to view assets in a more manageable way. Get your stock market sectors basics here: https://t.co/5gbiHmY8yl https://t.co/mQ6ty8Yalv
  • The Euro looks poised to continue gaining ground against haven-associated currencies and may reverse higher against the British Pound in the near term. Get your #Euro market update from @DanielGMoss here:https://t.co/oRIHju7ZzK https://t.co/dIEErVzWEY
  • Gold and silver prices have come under significant pressure recently. However, this correction lower could prove short-lived as price analysis hints at a reversal higher. Get your $XAUUSD market update from @DanielGMoss here:https://t.co/K1qL0fsGwy https://t.co/tRfjlN6X22
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, 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