Trading Insights: Fed keeps the bulls running, ECB up next
If you're reading this you most likely heard that the US FED increased the US Fed funds interest rate yesterday.
- US Fed Chairman Powell did say that current policy has not been restrictive enough eg. the door is open for further interest rate hikes
- The FOMC upgraded its view on the economic growth of the US economy
Bottom line: The better economic growth outlook implies that the US economy can handle higher interest rates.
The Bulls are in a strong position…..
Dowjones 30 five day price action
Today’s economic calendar
European Central Bank (ECB) expected to hike +0.25%
- It's expected to raise +0.25%
- Current interest rate 4%
- Expected new rate 4.25%
Source: TradingView / J. Knobel July 26 2023 6:38 AM UTC
ECB Interest rate decision on deck today at 12:15 PM UTC
Today’s Price Action Spotlight:
EUR/USD current price 1.1124, strong support spotted near the 1.0940s, watch the 1.1275 bull trigger
Germany 40 current price €16,263, price remains above its 40 day moving average, upside extension towards €16,790s, downside risk seen below the €14,684 support (see chart).
Do you have an opinion on where financial markets are heading? Express your opinion and trade with CFDs.
Not investment advice. Past performance does not guarantee or predict future performance.
Chinese property giant Evergrande's default places additional pressure on stocks. Oil prices dip while US treasury yield...
Bank of Japan made the decision to keep rates in negative territory earlier today, bolstering the EUR/JPY and USD/JPY cu...