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Fundamental Analysis
Daily Market Analysis by FxGrow
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[QUOTE="FxGrow Support, post: 87268, member: 34135"] [B][SIZE="4"]Daily Market Analysis – 30th July, 2015[/SIZE][/B] [I]By FxGrow Research & Analysis Team[/I] [B][SIZE="5"]FOMC - September Rate Hike Remains Open[/SIZE][/B] [IMG]http://i1148.photobucket.com/albums/o568/onestore40/fomc5_zpstlkba3m1.png[/IMG] Federal Open Market Committee (FOMC) released its policy statement which showed that the members are locked in a debate on the timing of the rate hike as the US labor market continues to improve with solid job gains and declining unemployment. The statement from the July meeting of FOMC suggests that September rate hike remains open as FOMC is on track to deliver a 25bp rate hike at the next meeting in September. Information received since the Federal Open Market Committee met in June indicates that economic activity has been expanding moderately in recent months. The labor market continued to improve, with solid job gains and declining unemployment - FOMC. Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with appropriate policy accommodation, economic activity will expand at a moderate pace, with labor market indicators continuing to move toward levels the Committee judges consistent with its dual mandate - FOMC. To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate. In determining how long to maintain this target range, the Committee will assess progress - both realized and expected - toward its objectives of maximum employment and 2 percent inflation - FOMC. When the Committee decides to begin to remove policy accommodation, it will take a balanced approach consistent with its longer-run goals of maximum employment and inflation of 2 percent. The Committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run - FOMC. Following the FOMC statement US dollar rose against its major counterparts with EURUSD touching 1.0948 and GBPUSD 1.5593 in the European trading session today. USDJPY crossed the 124 handle to reach 124.20 while NZDUSD is trading at 0.6614 Global equity markets are up with the Dow Jones industrial average up by 121.12 points to close at 17,751.39; S&P 500 gained 15.32 points to close at 2,108.57; the Shanghai Composite index was up 0.7% to 3,819.27; the Nikkei Stock Average was up 1.1%; Australia’s S&P ASX 200 was up 0.6% today as Fed remains on track to hike interest rates later this year. Greek PM Alexis Tsipras is facing opposition from Syriza party over the €86bn bailout deal and a series of economic reforms as demanded by its European creditors. "I would be the last person to want elections, if I had the secured parliamentary majority to make it through to the end of the four-year term" - Greek PM Alexis Tsipras. German consumer confidence index remained flat at 10.1 points amid uncertainty about Greece's financial stability. "German consumers apparently assume that the hard-won solution in the debt dispute with Greece will have negative consequences on the German economy" - GfK analyst. UK Retail sales growth slowed in the month of July according to a report by the Confederation of British Industry (CBI). CBI Retail sales balance dropped to +21 in July while analysts expectations were for a rise to +30. Crude oil prices have stabilized at $48.91 following the FOMC statement. Gold is trading lower in the Europe at 1086.71, while Silver is flat at 14.67 [B][I][SIZE="1"]30th July 2015 – 07:57hrs GMT[/SIZE][/I][/B] [I][SIZE="1"][B]Note:[/B] This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.[/SIZE][/I] [/QUOTE]
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