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-Fed news The Fed is holding interest rates at 5.5%, which was expected beforehand. However, Jerome Powell pointed out that the Bank is likely going to reduce rates at least three times by 25 basis points during the next year. This rather dovish move caused the USD to lose steam sharply. The EUR has gained about 130 pips since the news event while the JPY was able to gain nearly 4 cents against the Dollar. No further rate hikes should be expected for now. This is the first time since March 2021 that the Fed is sending out clear signals. With the recent weakness of the USD, stock markets gained sharply and bond prices were able to move higher with yields falling strongly. -BoE and ECB to Follow… Today traders will await the next moves from the Bank of England. Whether similar dovish potential might be seen remains the biggest question for investors today. After sharp gains of the GBP in particular against the Greenback such moves could intensify current trends but the BoE as well as the ECB, which is also due today, had followed later with their rate adjustments and might hence be rather careful with their communication. Rates for the UK are at a 15-year high currently and the ECB is also expected to remain with their current approach, potentially signalling a strong data dependency moving forward. -UBS Effort The UBS Bank is increasing their effort to get back bonuses, which Credit Suisse has paid to their managers before the collapse of the bank. Those bonuses have been seemingly made to keep some of their dealmakers. The Bank is currently trying to regain access to about CHF 1.2 billion by offering multi-year payment plans to several hundred of their bankers. -Market talk The Dollar is currently showing a mixed picture against its counterparts. The Greenback is not gearing up much momentum against the EUR and the GBP, though it looks set to rise against the AUD, as current trends on weekly charts suggest. This might be a preview for the equities market, which remains well-bid on the other hand. Recent retracements have seemingly been used by market participants to get cheaper entry prices again. Prices for oil and cryptos currently don’t offer much momentum to the upside. Instead, USOIL seems to have fallen further and is now trading at USD , which remains well below the psychological USD level. Today, Fed’s interest rate decision might add fresh volatility to markets, so trading should be executed with extra caution! Check the UPCOMING WEBINARS here: • Download the BDSwiss iOS app: • Download the BDSwiss Android app: • Join our Telegram Channel: • Like us on Facebook: • Follow us on Twitter: • Follow us on LinkedIn: • Follow us on Instagram: • Subscribe to our Channel: Your capital is at risk. T&Cs apply.
