Forex Market Silently Waiting For Fed Action Today

Forex Market Silently Waiting For Fed Action Today

By: Oliver Miller | Where To Trade | On:28-01-2015 12:46
Back

Key Highlights

  • A big event lining up as the Fed interest rate decision is lined up later today.

  • Fed is expected to keep the interest rates unchanged, but all eyes would be on policy statement.

  • The German GfK Consumer Confidence was released, which came in at 9.3 for February higher than the forecast of 9.1 and above the previous reading of 9.

  • German Import price index, released by Deutsche Bundesbank declined by 1.7% in December 2014, down from the November’s decline of 0.8%.

  • Swiss Consumption Indicator published by UBS increased from the previous reading of 1.29 to 1.42 in December 2014.

  • France consumer confidence released by INSEE measures the moods of the consumers came in at 90 unchanged whereas the market was expecting a rise from 90 to 91 in January 2015.

  • US MBA Mortgage Applications released by the Mortgage Bankers Association declined by 3.2% this time, compared to the last increase of 14.2%.

  • Pairs such as EURUSD and GBPUSD were seen consolidating in a range as investors await fed’s policy statement.

US MBA Mortgage Applications

Earlier during the NY session, the US MBA Mortgage Applications was released by the Mortgage Bankers Association. It registered a reading of -3.2% whereas the last reading was around 14.2%. There was no major impact on the US dollar, as the market was mostly silent and waiting for the fed interest rate decision which is likely to be a major market mover. There is no major change expected from the fed, but the central bank’s view on the interest rates high would be the one market might pay attention to.

Earlier today, there was hardly any movement in EURUSD and GBPUSD. The mentioned pairs were broadly seen trading in a range. Let us wait and see how pairs react after the fed interest rate decision.

London Session Recap

Earlier during the London session, there was hardly any major event except the German GfK Consumer Confidence, which just came above the expectation. The forecast was slated for a minor rise from the last reading of 9 to 9.1. However, the outcome was a bit positive, as the German GfK Consumer Confidence climbed to 9.3 for February. The most important point is that this is the highest level in 13 years. The report stated that significant increases were recorded in both economic and income expectations. Moreover, increase in the willingness to buy was also noted, as the German consumers appear to be considerably more optimistic. One optimistic point to note was the mention that economic expectations recorded a second strong increase and climbed by 8 points to 22. German consumers feel that their economy is currently improving and might gain ahead.

Technically, the EURUSD pair managed to stay above the 1.1320 support area and tested the 1.1380 level Intraday. However, it broadly traded in a range. On the downside, the 1.1320-00 area holds a lot of importance as if the Euro sellers manage to pierce it, then more losses are likely moving ahead.

Oliver Miller

Oliver Miller

"Patience is the key for success"

Oliver Miller is one of the best financial analyst with 18 years of online trading experience

EURUSD Slow and Steady Uptrend

EURUSD Slow and Steady Uptrend

By: Ben Myers | Where To Trade | On:02-05-2015 11:21

Euro traded higher versus the US Dollar Intraday, and registered a new weekly high as buyers were optimistic after a report which points that better growth is possible in the Euro Area.

Euro Above 1.1200 And Looks Set For More Gains

Euro Above 1.1200 And Looks Set For More Gains

By: Simon Furman | Where To Trade | On:30-04-2015 11:11

Euro continued to gain momentum against the US dollar as the latter one weakened recently, which means there is more room for gains in the EURUSD pair.

EURUSD Moved Above 1.1000, Eyes a Test of 1.1040

EURUSD Moved Above 1.1000, Eyes a Test of 1.1040

By: Oliver Miller | Where To Trade | On:29-04-2015 11:06

UK Nationwide Housing Prices highlighting the value of the houses prices in UK and indicate current movements in the housing market posted an increase of 1% in April, compared to the preceding month.

EURUSD Looks Set To Break 1.0920

EURUSD Looks Set To Break 1.0920

By: Darryl Frankfort | Where To Trade | On:28-04-2015 10:53

Euro managed to gain bids during the London session against the US dollar, and it looks like the pair might break the recent high of 1.0920 to trade close to the 1.0950 level.

FX Market Continues To Consolidate Post Dollar Losses

FX Market Continues To Consolidate Post Dollar Losses

By: James Ansher | Where To Trade | On:27-04-2015 10:46

US dollar continued to weaken against a few currencies and managed to recover some ground against currencies like the Euro and the British Pound

StockPair

Press Release

YesOption Voted Best Technical Analysis by DailyForex

YesOption Voted Best Technical Analysis by DailyForex

August 12, 2014 - London, UK, - Leading online forex and binary options trading platform - www.yesoption.com has once again made the news by being awarded the prestigious award of ‘Best Technical Analysis of 2014’ ...
24option binary options broker review

24option binary options broker review

Plus500Findings.com is recently launched online to help traders decide which broker they could open an account. 24Option, one of the popular trading platform online is reviewed whether it is legitimate broker or scam. This reviews and findings are of great benefits for traders, especially for those novice ones, who are just starting in the trading industry. ...
Banc De Binary Expands Investment Research Service

Banc De Binary Expands Investment Research Service

Leading Investment Firm, Banc De Binary, which specializes in binary options trading, has added a new weekly video series and trading webinars to the investment research service that it provides to its clients. ...

Articles

Citigroup Inc. is to pay $25 million amends

Citigroup Inc. is to pay $25 million amends

Citigroup accepted to pay the amends without denying the accusation ...
Netflix added 7.1 million new subscribers

Netflix added 7.1 million new subscribers

Netflix Inc. managed to add in the last quarter of 2016 more subscribers than expected ...
The Federal Reserve Chair Janet Yellen is set to have another speech on Thursday

The Federal Reserve Chair Janet Yellen is set to have another speech on Thursday

On Wednesday, Federal Reserve Chair Janet Yellen spoke about the interest rates and about the United States' economy ...
StockPair

Featured Listings