• Powell Q&A: Asked about 'mid-cycle adjustment' says they see a favorable economic outlook Link
    ForexLive Wed 18 Sep 2019 18:41
    Notes that there are risks to a positive global outlook and says that if economy does turn down then deeper cuts would be appropriateWe're going to be highly data dependent and we're not on a pre-set courseWe're going to be looking carefully meeting by meetingPowell particularly monitoring global growth and trade developments, we see those risks as more heightened
  • EURUSD extends below its 200 hour moving average and 38.2% retracement Link
    ForexLive Wed 18 Sep 2019 18:41
    The EURUSD has moved to new session lows as Powell begins his press conference. The fall has now taken the price below its 200 hour moving average at 1.10415 as well as its 38.2% retracement at 1.10353.  Staying below those levels keeps the bears more in control.  Moving back above will muddy the waters for the bears.
  • Powell basically brushed off higher short-term rates.
    ForexLive Wed 18 Sep 2019 18:41
  • Powell: Rates are not on a pre-set course and that is certainly the case today
    ForexLive Wed 18 Sep 2019 18:41
  • Fed's Powell: Rate cut was due to developments and insurance against risks Link
    ForexLive Wed 18 Sep 2019 18:36
    Notes lower growth abroad and trade developmentsElevated uncertainty has weighed on business investmentWe expect economy to continue to expand at a moderate rateNotes falling manufacturing outputPace of job gains has eased this year but we expected some slowingParticipation in labor force has been increasing  We expect the jobs market to remain strongWe still expect inflation to rise to 2%Inflation pressures clearly remain muted, we're mindful that continued below-target inflation could lead to a downward slide in long-term inflation expectationsSince last meeting we've seen additional weakness abroad and a rise in trade tensionsFuture course of policy will depend on how economy evolvesRates are not on a pre-set course and that is certainly the case today
  • zing! Link
    ForexLive Wed 18 Sep 2019 18:31

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  • Trump says Powell has no guts, no sense, no vision Link
    ForexLive Wed 18 Sep 2019 18:31
    I mean, he cut rates... Was he expecting 50 bps and QE today? Maybe but I don't think he wants an economy where he would be getting 50 bps and QE.
  • Watch live: Powell hosts press conference to discuss FOMC decision Link
    ForexLive Wed 18 Sep 2019 18:31
  • Summary of what markets are doing after the Fed Link
    ForexLive Wed 18 Sep 2019 18:26
    Spot gold was trading at $1509.83 up $8.45 before the decision. It currently trades down -$5 at $1496. WTI crude oil futures was trading at $58.17 or $-1.17 before the decision. It currently trades at $57.72 that is down $-1.62S&P index is trading at 2997.36, down -8.34 points. It currently trades at 2982.15, down -23.96 pointsNASDAQ composite index is trading at 8141.33, -44.68 points. It currently trades at 8102, -83.93 points2 year yields 1.6656%, -5.92 basis points.  the current yield is at 1.723%, -0.1 basis points10 year 1.747%, -5.3 basis points. The current yield is at 1.77%, -3.1 basis points30 year 2.215%, -5.2 basis points. The current yield is at 2.227%, -4.03 basis points
  • The S&P 500 would be down 2% if it wasn't hoping Powell would save stocks.
    ForexLive Wed 18 Sep 2019 18:21
  • US dollar jumps with dot plot showing no more cuts this year Link
    ForexLive Wed 18 Sep 2019 18:21
    The dot plot shows 10 members forecasting flat or higher rates this year while seven expect a single further cut. Next year the dots show 8 seeing a single cut while 9 see no change or higher rates.
  • Dollar moves modestly higher on the initial reaction to the FOMC decision Link
    ForexLive Wed 18 Sep 2019 18:11
    The USD's initial reaction was to the upside on the back of the Fed decision headlines, but the initial run higher has seen the dollar move back lower over the last few minutes as changes remain moderate.
  • Redline of the changes in the FOMC statement shows little difference Link
    ForexLive Wed 18 Sep 2019 18:11
  • FOMC central tendencies for GDP, employment, inflation from September 2019 meeting Link
    ForexLive Wed 18 Sep 2019 18:06
  • The FOMC dot plot from the September 2019 meeting Link
    ForexLive Wed 18 Sep 2019 18:06
  • The FOMC September 2019 full statement Link
    ForexLive Wed 18 Sep 2019 18:01

    Information received since the Federal Open Market Committee met in July indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low. Although household spending has been rising at a strong pace, business fixed investment and exports have weakened. On a 12-month basis, overall inflation and inflation for items other than food and energy are running below 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed.

    Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In light of the implications of global developments for the economic outlook as well as muted inflation pressures, the Committee decided to lower the target range for the federal funds rate to 1-3/4 to 2 percent. This...

  • Fed lowers interest rates by 25 basis points, as expected Link
    ForexLive Wed 18 Sep 2019 18:01
    Fed funds target rate lowered to 1.75%-2.00%Prior Fed funds rate was 2.00%-2.25%IOER lowered to 1.80% vs 1.85% expectedIOER spread widened to 20 bpsStatement repeats that economic activity is rising at a moderate rateGeorge and Rosengren dissented previously
  • RT @bespokeinvest: When Powell speaks, traders sell. Link https://t.co/FghvrE2JiD
    ForexLive Wed 18 Sep 2019 18:01
  • Four things to watch for in the Fed decision Link https://t.co/o6BNn8qXJE
    ForexLive Wed 18 Sep 2019 17:51
    Powell's final speech before the blackout was in Zurich and what wasn't fully appreciated was his change in tone on inflation. He commented that the Fed strategy is to avoid inflation expectations getting stuck in the 1.5-2.0% range, while he also highlighted that the relationship between economic tightness and inflation has faded. This is an abandonment of the 'neutral' framework and could be the Fed's justification for shifting to an outright-dovish stance. Ultimately, this is what could steal all the headlines and I'm surprised that more people aren't talking about it.
  • Trump on Iran (also Trump on the Fed) https://t.co/HLTyi3cuf1
    ForexLive Wed 18 Sep 2019 17:46
  • Trump says his thinking on Iran has not changed much Link
    ForexLive Wed 18 Sep 2019 17:41
    If US has to do something [on Iran] it will do so without hesitationWill have an announcement about a response to attacksDecision not to strike Iran previously is a sign of strength, it is very easy to attack
  • For reference: Here is the previous Fed statement, projections and dot plot Link
    ForexLive Wed 18 Sep 2019 17:31

    Information received since the Federal Open Market Committee met in June indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low. Although growth of household spending has picked up from earlier in the year, growth of business fixed investment has been soft. On a 12-month basis, overall inflation and inflation for items other than food and energy are running below 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed.

    Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In light of the implications of global developments for the economic outlook as well as muted inflation pressures, the Committee decided to lower the target range for the federal funds rate to 2 to 2-1/4...

  • Stocks dip to new lows ahead of FOMC decision Link
    ForexLive Wed 18 Sep 2019 17:21
    The US stocks have dipped to new session lows ahead of the FOMC decision. In the process, both the S&P index and the NASDAQ index have moved below their 50 hour moving averages.
  • RT @rationalwalk: Sources: A heated debate is taking place at the Eccles building regarding whether to order takeout or to grill up the $BY…
    ForexLive Wed 18 Sep 2019 17:11
  • The fake-meat bubble is bursting Link
    ForexLive Wed 18 Sep 2019 17:06

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