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Fed stands pat

Yesterday's FOMC decision proved to be a non-event. The committee made a couple of adjustments to the statement but the message remained basically the same and there was no hint of a timing of the next rate hike.
The market did what it usually does after high impact releases that change nothing - it ran stops on both sides before returning to pre-release range. Tomorrow's U.S. Q1 Advance GDP will likely provide a better signal as to the direction.
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JuliannaS avatar
JuliannaS 28 Apr.

informative)

al_dcdemo avatar
al_dcdemo 29 Apr.

I'm glad you like it. :)

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USD/JPY fails at 124.50 again

US Advance GDP report may appear soft when we look at the headline GDP q/q figure, but the Real Consumer Spending and Q1 revision make it a solid one.
Advance GDP q/q: 2.3% vs. 2.6% expected, 0.6% previous (revised up from -0.2%)
Real Consumer Spending: 2.9% vs. 2.7% expected, 1.8% previous (revised down from 2.1%)
But not solid enough for USD/JPY to break and hold above the strong resistance near 124.50. This was the second time this month and the fourth time in the past month and a half that t…
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fxsurprise8 avatar

I agree with your view trend is up. Maybe the reason for the false breaks is summer trading? Downturn in China is also a factor.

al_dcdemo avatar
al_dcdemo 31 July

Yes, I'd definitely say that low liquidity plays an important role here.

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EURo falls after FOMC meeting

Even though the FOMC statement wasn't particularly hawkish, the committee slightly upgraded its assessment of jobs market progress and that was enough for the Dollar bulls to sell the Euro down to 1.10. The pair continued to fall overnight and in the morning but with signs of demand coming in from below 1.0950.
US Advance GDP will be released today at 12.30 GMT and until then the pair is likely to remain near the current levels. Support is seen between 1.0925 and 1.0950 (July 24th low, Weekly Pi…
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