S&P 500 Breaks Tight Range and Overtakes 200-Day Moving Average, Inflation and NFPs Ahead

With less than two weeks to go until the last FOMC rate decision of the year, Fed Chairman Jerome Powell addressed the markets with remarks to suggest a smaller pace of rate hikes is ahead but that the end point for the benchmark is still higher than previously thought. A S&P 500 break suggests the market focused on the tempo.

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US Dollar Sails South as Powell Puts the Fed Case Forward. How Low Can USD Go?

The US Dollar was smashed after hawkish comments by Federal Reserve Chair Jerome Powell overnight were interpreted as a dovish tilt by markets. Will real yields drive the DXY (USD) Index?

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Crude Oil Rises a Third Day from 76 Support as Risk Appetite Adds to Supply Data

Crude oil prices charged higher for a third straight session, further setting the 76 support level established by the 61.8 percent Fibonacci level of the commodity’s historical range. But what would keep the market advancing from here?

from DailyFX – Market News https://bit.ly/3XDSQDA
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ADP Employment Misses Estimates, Biggest Slowdown Since January 2021

ADP Employment data miss strengthens the case for a slowdown in rate hikes from the Fed. Will Fed Chair Powell dent market optimism of a slowdown later in the day?

from DailyFX – Market News https://bit.ly/3VrsG5K
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USD in Review Ahead of PCE data – Inflation Remains a Key Driver of USD

Recent hawkish rhetoric from the Fed appeared to have little lasting effect on the dollar. Current short USD positioning reveals the market’s bet on lower inflation

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