Day: April 1, 2015

April 1
2015

FOMC Launches Revolutionary Interest Rate Setting Mechanism

While all the progressive Forex trading community was trying to guesstimate the date of the next interest rate increase by the Fed, the FOMC Chairwoman acted in unexpected manner. Yesterday, in her late night speech, Janet Yellen has announced an innovative mechanism of fed funds rate fixing. Its primary objective is to eliminate the traditional lack of consensus when the rate vote is performed during the Federal Open Markets Committee meetings and to exclude […]

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April 1
2015

Dollar Loses Upward Momentum amid Soft US Data

The dollar’s rally lost momentum on Wednesday as economic data from the United States was disappointing for the most part. It allowed EUR/USD to carve out gains even as the eurozone had its own share of problems. ADP employment grew by 189k in March on a seasonally adjusted basis. The increase was markedly below the predicted 227k the February’s increase by 214k. (Event A on the chart.) Markit manufacturing PMI rose from 55.1 to 55.7 in March. The median […]

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