FED DECISION: US DOLLAR CLINGS ONTO GAINS AFTER THE FOMC LEAVES RATES UNCHANGED AS EXPECTED BUT WILL EXTEND REPURCHASE AGREEMENT
FED DECISION: US DOLLAR CLINGS ONTO GAINS AFTER THE FOMC LEAVES RATES UNCHANGED AS EXPECTED BUT WILL EXTEND REPURCHASE AGREEMENT OPERATIONS (REPOS)
- The US Dollar stays on its entrance foot after the January 2020 Fed assembly revealed that the FOMC left rates of interest unchanged and acknowledged it’ll proceed repo operations by way of April
- Modifications to Fed language discovered within the newest FOMC press assertion embody a less-optimistic tone concerning family spending and feedback on firming inflation
- The Dow and spot Gold are extending intraday features following the FOMC resolution as merchants await additional particulars from Fed Chair Powell
As broadly anticipated, the Federal Reserve left its benchmark rate of interest unchanged at a goal vary of 1.50-1.75%.
Modifications made to the January 2020 FOMC press assertion from the central financial institution’s prior financial coverage replace have been sparse and thus warrant a muted response within the US Greenback up to now.
Likewise, the response within the Dow Jones Industrial Common and spot Gold costs have been restricted.
US DOLLAR INDEX PRICE CHART: 15-MINUTE TIME FRAME (JANUARY 28, 2020 TO JANUARY 29, 2020)
Chart created by @RichDvorakFX with TradingView
The US Greenback Index continues to commerce above the 98.00 deal with after eclipsing this technical barrier on the again of strong financial information yesterday.
USD worth motion might battle to increase…