Quadruple witching is gone and now there are no reasons for the market to hinder. From banks statements and economic data to gas storage reading and Fed’s Powell speech – get ready for active trading.
Is the Fed holding the rate?
The Federal Funds Rate is announced at 21:00 MT time on December 11.
At the November session, the Federal Reserve cut the country’s main interest rate to 1.75%. It was the third decrease and expectedly the last during 2019. At the time, the Fed Chair Mr. Powell stated that the main inclination of the policymakers was to stop the rate-cutting cycle and observe the results. However, he also expressed the readiness to act as appropriate, leaving the space for the monetary maneuvers in case the trade war or the global economic slowdown takes the toll on the US economy. Eventually, this point was removed from the Fed statement, reassuring the public that the Fed’s monetary stance is more solid than it was previously thought. If the December rate announcement confirms that, it should strengthen the US dollar because the unchanged rate would signal the resilience of the American economy.
- If the Fed is hawkish, the USD will rise;
- If the Fed is dovish, the USD will fall.
The US showed strong retail sales for August despite the spread of the Delta virus strain. As a result, the US dollar rocketed and gold dropped by 2286 points in half an hour after the release.
The United States will release MoM Retail Sales data on September 16, 15:30 GMT+3.
A selloff in stocks stopped. S&P 500 has reversed up from the 100-day moving average. It should be the perfect time to buy the index.
Did the era of the Dogecoin, the most famous cryptocurrency, come to its end, or it is just a calm before the storm? Let’s find out!
The FOMC, a committee within the Federal Reserve, will hold an important meeting and press conference on September 22 at 21:00 MT time (GMT+3).