FX Expert Funded

US dollar corrects higher after the FOMC rate decision

The USDs reaction has been a modest rise in the USD as the Fed chooses to forecast only 1 cut between now and the year’s end.

EURUSD: The EURUSD has moved down toward the 50% midpoint of the June trading range at 1.08175. The price low reached 1.08145. The 100-day MA comes in lower at 1.08034. The current price trades at 1.0828. The 200 bar MA on the 4-hour chart is at 1.0832. Moving back above and staying above would give sellers some cause for pause.USDJPY: The USDJPY fell below the 200-hour MA this morning at 156.395. The low price reached 155.73. The move higher after the rate decision has taken the price back to test the 200-hour MA. The high price just reached 156.41 just above the 200 hour MA. The price is trading at 156.33.GBPUSD:The GBPUSD has moved back below the high from last week at 1.28192 and a swing area between 1.2822 and 1.28272. The current price trades at 1.2827 after reaching a low at 1.2807. The 1.2819 to 1.2827 is the key barometer for the buyers and sellers.

Looking at the US debt market:

2-year yield moved from 4.697% to 4.714% currently – up 1.7 bps5 year yield moved from 4.265% to 4.277% currently – up 1.2 bps10 year yield moved from 4.267% to 4.277% currently – up 1.0 bps30-year yield moved from 4.432% to 4.443% currently – up 1.1 bps

Looking at the major indices:

Dow Industrial Average average moved from 38787.77 to 38768.47 currently (down -19 points)S&P index moved from 5432.67 to 5431.75 currently (down around -1 point)NASDAQ index moved from 17661.60 to 17649.69 currently (down around -12 points)

This article was written by Greg Michalowski at www.forexlive.com.

Leave a Comment

Your email address will not be published. Required fields are marked *

Call Now