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Forex today: bid-up dollar on hawkish FOMC rolls over on trade war angst

FX today was volatile and traders homed in on the FOMC and finally responded to trade war threats, turning the marks risk-off, offsetting the hawkish tone of the FOMC and taking pulling the bid out of the dollar where it weakened against most G10 currencies. As well telegraphed, the FOMC raised the target range for

NZD/USD Technical Analysis: Kiwi remains close to major resistance, but swing lows are digging for more

The Kiwi is continuing to trade into flat resistance as swing lows begin to steepen. Markets roiled quickly on Wednesday after the US Fed raised interest rates 25 bps, but markets have recovered. Hourly indicators remain close to their middles; sellers will be looking for a small bump higher before shorting again. NZD/USD Chart, 1-Hour

Next steps for US-North Korea talks – Reuters

As reported by Reuters, the recent Trump-Kim summit was heavy on promises but light on specific details, and the path forward for developments between the two countries remains unclear. Key quotes “Speaking in Seoul, Pompeo said he expected the United States and North Korea to resume contacts within the next week or so. “I would anticipate

AUD/USD Technical Analysis: Aussie remains confined by declining trendline depsite recovering from Fed selloff

The Aussie fell off steeply after the US Fed hiked interest rates by 25 bps, but recovered quickly and ended Wednesday mostly flat. The run-up into Wednesdays US session gave a re-tap of the current descending trendline, confirming a bearish bias. Long-term technical correction set to face challenges. AUD/USD Chart, 1-Hour Spot rate: 0.7578 Relative

US Trump to decide on Chinese tariffs sometime on Thursday

US President Donald Trump is reportedly going to be making a decision on whether or not to impose tariffs on Chinese goods this Thursday. Trump will be meeting with his advisors sometime during Thursday’s US session, and if he decides to give his waiting-in-the-wings tariff packages targeting billions of dollars in Chinese goods the go-ahead,

A slightly more hawkish Fed add one more rate hike in 2018 – NBF

Analysts at NBF Economics and Strategy explained that the overall changes to the central tendency of economic projections have moved marginally stronger across the horizon.  Key Quotes: “Given their economic outlook and confidence that the risks to this outlook appear roughly balance, now a majority of participants see the fed funds rate moving up to 2.375%

FOMC review: largely in line with our expectations – Nomura

Analysts at Nomura explained that today’s FOMC meeting was largely in line with our expectations.  Key Quotes: “We continue to expect a total of four hikes in 2018, including two more after today’s hike, and two additional hikes in 2019. For today, as we expected, the FOMC raised the federal funds rate target by 25bp

Crude oil WTI Technical Analysis: Black Gold bulls close higher for the 3rd day in a row holding $66.00 a barrel

Crude oil is slowly grinding higher as it was supported at the 66.00 level throughout the day before spiking up. The next hurdle to overcome for bulls is 66.85, May 1 key swing low. If the bulls fail to break above this level we might see a consolidation phase in the coming days with supports

Fourth hike for 2018 is still hanging in the balance – Rabobank

Analysts at Rabobank noted that, as well telegraphed, the FOMC raised the target range for the federal funds rate to 1.75-2.00% from 1.50-1.75% Key Quotes: One higher dot, one extra hike? “There were no dissenting votes. More interestingly, the dot plot looked more hawkish as the median projection now implies 4 hikes in 2018 instead

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