“Several members judged that it would be appropriate to increase the target range for the federal funds rate relatively soon if economic developments unfolded about as the committee expected,” the minutes from the Sept. 20-21 gathering in Washington showed. “It was noted that a reasonable argument could be made either for an increase at this meeting or for waiting for some additional information on the labor market and inflation.”
Posted in: Daily Market News,
Tags: Core Retail Sales m/m USD, crude oil inventories, FOMC Meeting Minutes, German ZEW Economic Sentiment, PPI m/m USD, Retail Sales m/m - USD, Trade Balance - CNY, Unemployment Claims - USD,
Hi all. Welcome to another trading week, and a new improved layout for our daily analysis. We are close to a turning point in these three markets, both the wave counts and the technical picture in each of the markets point to an overbought Dollar. The market demands a correction of these extremes, and the technical indicators are already showing signs of diverging momentum.
Posted in: Elliott Wave Analysis,
USDJPY had another positive week. The pair rallied and closed the week just above 114 handle. There was a major change in speculative positions this week. Smart money covered 22K long positions. This makes they hold least longs in over 6 weeks. At the same time, they kept their shorts unchanged from the previous week At the moment speculators are 46K net long, this is DOWN from 69K last week. They hold 52% of the total Open Interest in shorts, DOWN from 62% last week
Posted in: Commitments of Traders,
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