Frank Walbaum
FX Strategies.Asia
Important news for the day
- Wed, 19th, 03:35 CET JP BoJ interest rate decision
- Wed, 19th, 19:00 CET US Fed interest rate decision
Fed interest rate decision
The interest rate decision of the Federal Reserve Bank of the US will guide markets today. In Japan, the BOJ did not adjust their rates today and the JPY did not move much after the release of the news. The same will be expected from the FED but Jerome Powell’s words might still cause markets to move. Any hints towards a potential further rate cut might move the Dollar, potentially causing it to weaken. According to news from Bloomberg, market participants currently price in more than 57 basis points until the end of the year. Equity markets might start to resume fresh upside momentum after potentially dovish news.
Market talk
The Dollar has remained in a sideways pattern throughout today’s trading so far. Fresh momentum might be found during the news event this evening. Equity markets might resume some upside, as recent support levels still remain positive for now. Oil prices remain trading to the downside. During yesterday’s phone call between Trump and Putin it seems that not much progress has been made. It seems that the US rather took over the Russian perspective as well.
Tendencies in the markets
- Equities positive, USD sideways (FED!), cryptos positive, oil weak, Silver sideways, Gold strong, JPY weak.
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