Our last EURUSD SETUP: "Short & Reversal"
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TheAnonymousBanker
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"I think the key question is, are we going to get sufficient growth in the economy, put downward pressure on the unemployment rate, get an acceleration in wages," said William Dudley, president of Federal Reserve Bank of New York. "If we get that, I'll be reasonably confident inflation returning to 2 percent."
Dudley, a voting member of the Fed and vice-chairman of the Federal Open Market Committee, was speaking in an exclusive interview with CNBC. He said that weaker global developments, particularly in China, could potentially slow the U.S. economy. A stronger dollar has also weighed on American exports. "It's a mixed picture, the domestic side of the economy looks really good, some temporary drag from inventories and some more persistent drag from the trade sector," he said.
We are also awaiting October 30 when we will be meeting with the Bank of Japan, this will be the last piece of our puzzle, let's not forget that USDJPY is currently a major driver for us.
IvanLabrie
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Decisive week, and month ahead.
Check out NZDUSD, seems to have hit rock bottom.
TheAnonymousBanker
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Ivan... not "seems" ...but "have"... :) We like commodities currency at the moment, this our last setup about audusd:
IvanLabrie
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Nice I had the same analysis and entry. Nice going ;)
TheAnonymousBanker
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at the moment we still see a possible fake signal, but next Tuesday we could have a better idea....
smitheric1970
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Oil has pressured equities as well, this would definitely help to create a scenario that would allow for a rate hike. Are you short term bullish on equities as well? I agree with your DX target; however, the markets seem very hesitant to allow for a drop in the dollar with the constant looming 'potential' rate hike...
TheAnonymousBanker
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That's right, we think the Fed can get out of this situation only in this way, thanks for your opinion.
smitheric1970
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Would definitely create the perfect storm. Have a great weekend, I am a big fan of your work!
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