Bitcoin is on sale, oil is on the way to $75
The Bitcoin “death cross” has occurred. The S&P 500 rallied the most in five weeks! Crude oil and gold jumped as the US dollar weakened.
Trade the USD on the extreme volatility
The Federal Reserve will make its monetary policy statement and announce the official rate on December 19, at 21:00 MT time.
The market anticipates the rate hike from 2.25% to 2.5%, as was suggested during November's meeting. If the Fed increases the interest rate, it will be the fourth rate hike in 2018. In addition, the tone of the statement by the Fed Chair Jerome Powell may provide the volatility to the US Dollar. During the last month, a few members of the Federal Open Market Committee pointed on the increased uncertainty regarding the effects of current fiscal and trade policies on economic activity and inflation. Also, they told not to underestimate the current trade tensions with China. These comments made traders worried. The current Fed statement is anticipated to shed light on its future monetary policy.
• If the Federal Reserve increases the interest rate, the USD will rise;
• If the Federal Reserve leaves the interest rate unchanged, the USD will fall.
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PMI reports on Wednesday will influence EUR, GBP, and USD
Wednesday will please traders as many economic indicators will be out! The USA, UK, and Euro Area will release PMI reports on June 23 from 10:15 to 16:45 MT.
Trade ideas for June 21-26
Last week the USD soared versus other major currencies, while gold headed for the biggest weekly loss in 15 months. Let’s see what new moves await us this week!
Latest news
US PCE Price Index is going out
US PCE Price Index will be out on Friday at 15:30 MT.
Microsoft rocketed, markets calmed down
Microsoft joined Apple in the $2 trillion dollar club! Follow PMI reports from the US, UK, and EU throughout the day!
BOE meeting will influence the GBP
The Bank of England will release its statement and announce its monetary policy decision on June 24 at 14:00 MT.
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