EUR/USD falls below 1.16 as ECB keeps rates steady, Fed suggests a break
EUR/USD experienced a decline on Thursday following the European Central Bank’s (ECB) decision to maintain interest rates. Traders were still processing the “hawkish” rate cut announced by the Federal Reserve on Wednesday, which kept EUR/USD below the 1.1600 mark. As of now, the pair is 0.30% lower, standing at 1.1565. ECB’s Lagarde says policy is […]
USDJPY Technical Analysis: Powell from the Fed appears assertive while the Bank of Japan remains neutral
Basic overview The US dollar strengthened yesterday, thanks in part to some forceful remarks from Fed Chairman Jerome Powell. The Federal Reserve’s decision was largely as anticipated, but one key statement stood out: “A December rate cut is not a foregone conclusion; in fact, we are far from it.” Powell emphasized this multiple times, hinting […]
Bitcoin and Ethereum fall after Fed chair suggests that a 25-point rate cut could be the final one in 2025.
Crypto Markets Dip After Fed Chair’s Remarks Cryptocurrency markets experienced a slight decline on Wednesday after Federal Reserve Chairman Jerome Powell suggested that a 25-point rate cut in October might be the last one until 2025. The value of Ethereum, the second-largest cryptocurrency, dropped around 2%, landing just above $3,900. Overall, the entire cryptocurrency market […]
GBP/USD returns to downward trend as Fed rate cut strengthens Dollar
GBP/USD Declines Amid Fed Rate Cut The GBP/USD exchange rate saw a notable drop during the US market session on Wednesday, reaching the 200-day exponential moving average (EMA), which indicates a deeper bearish trend for Cable. It’s striking that the GBP/USD pair has closed lower in eight out of the last nine trading days, with […]
Bitcoin and Ethereum Drop After Fed Lowers Rates, but Powell Indicates Another Cut is Uncertain
Simply put The CME FedWatch tool, using futures trading data to gauge trader sentiment, indicated a high likelihood of a rate cut. The Conference Board’s Expectations Index, an indicator of business confidence, remains below the level that typically signals an impending recession. Bitcoin is significantly lower than its all-time high reached earlier this month. The […]
GBP/USD declines following confirmation of Fed rate cut and plans to reduce QE
The GBP/USD pair experienced new falls during intraday trading after the Federal Reserve cut interest rates by 25 basis points on Wednesday, an action that was largely anticipated. The Federal Open Market Committee (FOMC) met the expectations but, interestingly, their lack of strong commentary meant that the market didn’t react dramatically. After the Fed’s announcement, […]
EUR/USD declines as Fed implements rate cut and indicates conclusion of QT
On Wednesday, EUR/USD fluctuated between the 1.1650 and 1.1635 marks after the Federal Reserve lowered interest rates by 25 basis points, which was anticipated. However, there were two dissenting voices in the meeting. As of the latest updates, the currency pair was experiencing volatility as traders awaited insights from Federal Reserve Chairman Jerome Powell. Dollar […]
Gold price update for Wednesday, October 29: Gold remains steady before Fed rate announcement
Gold Futures and Interest Rates Update Gold futures opened on Wednesday at $3,967.20 an ounce, showing barely any change from Tuesday’s closing price of $3,966.20. Interestingly, gold prices actually climbed above $4,000 early in the trading session. The U.S. Federal Reserve is widely anticipated to reduce interest rates by 25 basis points today. A forecasting […]
Dollar gains as traders assess trade discussions and the Fed
Market Update: Dollar Strengthens Amid Trade Hopes TOKYO/LONDON, Oct 29 – The dollar gained strength against European currencies, particularly the pound, as expectations grow for a trade truce between the United States and China. Traders are also keenly awaiting a Federal Reserve meeting scheduled for later in the day. In a speech given in South […]
Dollar weakens ahead of anticipated Fed rate cut, Aussie rises on CPI
Dollar Remains Steady Ahead of Fed Rate Decision The U.S. dollar was trading close to its one-week lows against major currencies on Wednesday, just before a widely anticipated interest rate cut by the Federal Reserve later today. It dropped further against the Japanese yen after U.S. Treasury Secretary Scott Bessent indicated that the new Japanese […]