the Federal Open Market Committee (FOMC) reduced the target range for the federal funds rate to a range of 1.50% to 1.75%. As in the previous decision, Esther George and Eric Rosengren dissented in favor of leaving the rate unchanged.
In line with the September statement, today’s release characterized the labor market as strong and “that economic activity has been rising at a moderate rate.” However, it also noted that business investment and exports “remain weak.”
The statement once again pointed to global developments as well as muted inflation pressures as reasons for cutting rates. However, it removed from the statement the proviso that it will “act as appropriate to sustain the expansion, “noting simply that “it will continue to monitor the implications of incoming information…as it assess the appropriate path of the target range for the federal funds rate.”
Analysis GOLD
H1 has reversal pattern, bulish englufing gold candle appeared to confirm the uptrend.
Today's buying strategy
buy limit GOLD 1491.68 SL 1489 TP 1506
Signal short : GOLD buy 1494 TP 1501 SL 1492
In line with the September statement, today’s release characterized the labor market as strong and “that economic activity has been rising at a moderate rate.” However, it also noted that business investment and exports “remain weak.”
The statement once again pointed to global developments as well as muted inflation pressures as reasons for cutting rates. However, it removed from the statement the proviso that it will “act as appropriate to sustain the expansion, “noting simply that “it will continue to monitor the implications of incoming information…as it assess the appropriate path of the target range for the federal funds rate.”
Analysis GOLD
H1 has reversal pattern, bulish englufing gold candle appeared to confirm the uptrend.
Today's buying strategy
buy limit GOLD 1491.68 SL 1489 TP 1506
Signal short : GOLD buy 1494 TP 1501 SL 1492
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GOLD TP 1501
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