FOMC

Bitcoin price is trading sideways ahead of the FOMC 2-day meeting starting Tuesday. However what could likely help BTC rally towards and above $10K?

Much like last week, Jerome Powell will testify before the Senate Banking Committee on Tuesday. Today’s forex market outlook reveals what else traders expect.

GBPUSD struggles near 1.30 may invite more Bears. After breaking the 1.2960 area, Bulls managed to push the price near 1.30 resistance again.

Will the Bank of England will cut interest this week? What other event will drive the market this week? Stay updated with this weekly market overview.

GBPUSD is trying to overcome the market pessimism of the YouGov MRP poll. Here is the GBPUSD Fundamental Analysis of 11 December, 2019. 

EURUSD rises to weekly highs near 1.1770, ahead of crucial Eurozone data. EURUSD benefited from FOMC-led broad USD weakness and trade concerns.

This week has a bunch of economic data releases from most major countries. Besides the BREXIT uncertainties, the other vital announcements are the FOMC, Non-Farm payroll, and the BOJ rate decision. 

UK Parliament vote will be held on Saturday and investors becomes cautious of the Brexit vote. Here is the EURUSD fundamental outlook for 18th October.

The US Dollar Index is under pressure, adding to Friday’s losses and is testing fresh lows in the sub-98.00 area ahead of the opening bell in Euroland.

In a much-anticipated move, the Federal Reserve cut its main interest rate yesterday by 25 basis points.

The sidelined performance in both the Japanese safe haven and the European currency is prompting EURJPY pair to follow suit, exchanging up and downs around 121.00.

The US dollar pulls back from the 109.00 level against the Japanese yen, following bearish comments from President Trump towards Sino-US trade talks.

The US dollar index is sticking to the positive territory so far on Tuesday, managing well to keep the trade above the key 98.00 barrier.

The Dow Index ended modestly higher as it gained 28 points to end at 27221. The price managed to hold above the ascending trend line from June 27th low.

The US Dollar Index (DXY), which tracks the greenback vs. a bundle of its main competitors, keeps the buying interest well and sound above the key handle at 98.00 the figure.

It is worthy to note that the daily RSI reading is trending lower leaving the Dow vulnerable to break below the psychological support at the 27000 level.

The greenback ended sharply higher against most of its major peers on Friday, but failed to hold most of the gains against the Loonie, thus the USDCAD pair closed only 0.25% higher.

The USDJPY pair found support around 107.70s and the 50-day moving average, and now it looks like the momentum has been picked up.