• Welcome to forex.pm forex forum binary options trade. Please login or sign up.
 

Forexlive Americas FX news wrap: Powell says no "need to be in a hurry to lower rates"

Started by forex4you, Nov 15, 2024, 04:42 am

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

forex4you

Forexlive Americas FX news wrap: Powell says no "need to be in a hurry to lower rates"

Markets:

  • Gold down $9 to $2564
  • US 10-year yields flat at 4.45%
  • WTI crude oil up 21-cents to $68.62
  • S&P 500 down 0.6%
  • USD leads, NZD lags

Several post-election themes ebbed today but not US dollar strength. The dollar had been trending lower in US trade until Powell changed his tone and delivered a speech saying:

"The
economy is not sending any signals that we need to be in a hurry to
lower rates. The strength we are currently seeing in the economy gives
us the ability to approach our decisions carefully."

That knocked December rate cut odds down to 60% from 85% at the start of the week and that was no-doubt the aim. It comes after other Fed officials this week highlighted upbeat US growth and the potential for sticky inflation.

USD/JPY touched as high as 156.42 as it continues to cruise while the euro briefly fell below 1.05 in early European trade before bouncing 80 pips and then sliding to 1.0522 after Powell.

Commodity currencies were sold throughout the day and USD/CAD broke 1.40 for the first time since 2020. AUD and NZD both finished the day near the lows as equity markets sold off late and the US dollar climbed. On Friday we get the latest retail sales report and that should keep markets moving.



                This article was written by Adam Button at www.forexlive.com.

Source: Forexlive Americas FX news wrap: Powell says no "need to be in a hurry to lower rates"

forexlive.com
Forex4you offers wide range of trading accounts with DDE, NDDE and STP executions including more than 100 instruments. Forex4you is based on MetaTrader 4 trading platform. Clients have the advantage of daily technical and fundamental analysis, one-click trading, economic calendar, mobile trading applications, news and forecasts from Dow Jones (UK) and signals from Trading Central (US). In addition, Forex4you offers Forex dictionary, educational materials and lot of "How to" guides about Forex.

forex4you.com   share4you.com   betiforex.com Forex  beginners-guide-to-iq-option-complete-review forex4you review forex4you Forex4you Review - One of the Best Forex Brokers Forex4you Review - One of the Best Forex Brokers forex4you - PAMM forex broker review and feedback from traders forexbinaryoption.ae aroundworld24.com  Affiliate programs  Forex4you Affiliate programs   



forex4you.com