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Summary The doves won the day at the last FOMC meeting of 2023. The Federal Reserve left its policy rate unchanged at its December 12-13 meeting, a move that was widely anticipated. More important were the changes to the post-meeting statement and the latest Summary of Economic Projections (SEP). The new statement noted that inflation […]

The post December FOMC: Dipping Dots – The Monetary Policy of the Future appeared first on Action Forex.

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25/03/2024

Sunset Market Commentary

Markets Wednesday’s Fed dots & Powell’s press conference brought a diffuse message, hampering an unequivocal market reaction. Higher/above neutral growth, a material uplift in especially this year’s inflation forecast and the unemployment rate holding below NAIRU contrasted with the interest rate dots confirming the scenario of 75 bps rate cuts this year. Powell at the […]
12/12/2023

EURJPY Rotates Higher, But Trend Risks Remain

EURJPY pauses sharp downfall near 200-day SMA Oversold, but trend signals remain discouraging EURJPY turned oversold near its 200-day simple moving average (SMA) after a heavy bearish storm squeezed the pair from fifteen-year highs to a four-month low of 153.00 last week. The latest freefall in the price has breached the June-November bullish channel, charting a new lower […]
06/09/2024

Intraday Elliott Wave Expects Further Correction in Dow Futures (YM)

Short Term Elliott Wave in Dow Futures (YM) suggests that pullback to 38532 low on 8.5.2024 ended wave ((4)). The Index then turned higher and made a new all-time high in wave ((5)) as an impulse. Up from wave ((4)), wave 1 ended at 39619 and wave 2 pullback ended at 38689. The Index then […]