Open trading account 
Fed was arguably more hawkish than expected, now seeing four hikes this year, or cumulative 100 bp. In addition, the bank is going to hold press conferences after every meeting, starting January 2019, which could be seen as more opportunity to hike further, provided that the economy maintains current pace. U.S. dollar spiked higher initially but reversed the very next hour, which is telling. We'll see what European traders have to say before heading to pubs and TV screens, as FIFA World Cup star…
al_dcdemo's Blog
Cable awaits BOE QIR
Pound is again in focus with the BOE QIR a.k.a. "Super Thursday" meeting scheduled to conclude later today. There will be public releases at 11:00 GMT and a press conference at 11:45 GMT.
I think the bank will need to come up with something really dovish to send Cable below 1.43 - 1.4350 area (100 DMA, 50 DMA, Q4 2015 - Q1 2016 support/resistance line). The main risk is that they remain neutral and the pair will rally through 1.45.
I think the bank will need to come up with something really dovish to send Cable below 1.43 - 1.4350 area (100 DMA, 50 DMA, Q4 2015 - Q1 2016 support/resistance line). The main risk is that they remain neutral and the pair will rally through 1.45.
ECB hints on further easing
ECB left interest rates unchanged at today's meeting. However, there were some strong hints about further policy easing to come in March. President Mario Draghi expressed concerns about downside risks stemming from recent developments in financial and commodity markets and their influence on inflation outlook.
Mirroring a sell-off in Euro, Swissie jumped about 100 pips and then added another 20 after an initial pullback. Although violated, strong 1.0125 level held and remains the first obstacle …
Mirroring a sell-off in Euro, Swissie jumped about 100 pips and then added another 20 after an initial pullback. Although violated, strong 1.0125 level held and remains the first obstacle …
BOC holds rates
Contrary to what many expected, BOC held the overnight rate at 0.50%. Canadian dollar weakened a lot in anticipation of their move and was bought heavily after the decision.
The pair (USD/CAD) was marked down immediately but it turned around swiftly and retested pre-meeting range in anticipation of a dovish press conference. That never came and the pair continued lower, leaving a big reversal candle on the daily chart.
The pair (USD/CAD) was marked down immediately but it turned around swiftly and retested pre-meeting range in anticipation of a dovish press conference. That never came and the pair continued lower, leaving a big reversal candle on the daily chart.