Fed Cuts Rates by an Oversized 50 Basis Points

AUDUSD marks new higher high, breaks key resistance area Short-term bias positive, but 0.6715 zone adds some pressure AUDUSD experienced a spectacular rally after a dovish FOMC policy meeting earlier this week, crawling as high as 0.6727 on Thursday – the highest level since the end of July. The bulls have finally breached the resistance […]

The Federal Reserve Open Market Committee (FOMC) maintained the federal funds rate in the 5.25% to 5.50% range and announced it would continue its balance sheet runoff. The Fed adjusted its language to acknowledge the recent easing in economic data, stating “recent indicators suggest that growth of economic activity has slowed from its strong pace […]

The week kicked off with a pause in the equity rally on both sides of the Atlantic Ocean. Nikkei index is mostly flat on Tuesday and the yen consolidates above 151 following yesterday’s threat from a Japanese official about a potential intervention to stop excessive bleeding in the yen. The Japanese will likely intervene if […]