Risk Off after FOMC Statement

Risk Off after FOMC Statement

2020-09-17 • Updated

eurusd 30 min.png

EURUSDM30.png

gbpusd 30 min.png

GBPUSDM30.png

Ichimoku Kinko Hyo

CAD/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.

CADJPYM30 ich.png

Fibonacci Levels

 XAG/USD: Silver has started a downside correction and stands on the key 50% retracement area.

XAGUSDM30 fib.png

EU Market View

FOMC left rates on hold as expected, sees rates unchanged at least through 2023 and maintained the asset purchase schedule. The USD was choppy in the aftermath of the FOMC, although the DXY has since strengthened and temporarily broke above 93.50. Looking ahead, highlights from macroeconomic calendar include Eurozone CPI, US building permits, weekly jobs, ECB's de Guindos speech.

 

EU Key Point

  • OPEC will not talk about a need for deeper oil cuts
  • USD strengthens further in the post-FOMC Asia session
  • Bank of Japan monetary announced no change to policy

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