The markets are so far little changed after the FOMC meeting minutes. The playbook is for the Fed to tighten policy to restrictive (target 4.25%-4.5%
The markets are so far little changed after the FOMC meeting minutes. The playbook is for the Fed to tighten policy to restrictive (target 4.25%-4.5% target range at year end and 25 basis points more in early 2023), then wait.
Whether that is too much or will be too little is open for debate. The Fed playbook calls for rates to stay steady for an extended period of time in 2023.
The EURUSD is seeing a little bit of a bid. It trades just above the 0.9700 level. The falling 100 hour moving average is down to 0.97315. If the buyers are to take more control in the short-term, getting above – and staying above – the 100 hour moving average is required
GBPUSD above the 100 hour MA
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