US Interest Rate Preview – last hours remaining to book trades! Decision due at 19:00 GMT today.

by John Knobel

 

US Rate Decision Preview 

  • 19:00 GMT  US Interest Rate Decision is due forecast rates to remain on hold at 1.75%
  • High price action is expected across USD assets as investors will look for clues about the direction of the US FED’s next move
  • If FED signals that they will do nothing and let the US economy “run hot” stock markets should continue to advance higher…
  • High price action across commodities , USD FX pairs and US stock indices expected
  • Are markets pricing in a 0.25% US Fed rate cut for October? If so, stock indices may continue to trend higher....
  • No one is expecting the FED to cut rates today,but looking 9 months out the odds are increasing for another rate cut…
Global Trading Strategy
Gold: long positions technically supported for $1,600 - $1,630 upside provided price remains above the $1,536 support, current price $1,570.25 above its 10 day moving average, both 13, and 6 period rate of change momentum indicators above zero.
Crude Oil (CL) 20/02/2020: long positions above $52  support level for $56.10, today's US Crude Oil Inventories report to create high price action, downside seen limited to $52 - $51.10 in the very short term, otherwise a break below $52 opens up a move lower towards $51.10.
Source: FXGM Investment Research Department / Bloomberg