US DOLLAR/ Dollar dips on FED hike view
The US DOLLAR has topped out and now beginning it correction. This is very bullish/positive for US Stocks for a new "potential" indication set up for them to breakout on a impulsive wave up.
It had touched my previous forecast of 110 as my last target.
Federal Reserve will take a more aggressive approach in hiking interest rates next week.
Expectations for a 100 basis points rate hike by the Fed at its policy meeting next week stood at about 29%, according to CME's FedWatch Tool after reaching as high as 80% last week.
The Fed seems to be leaning more towards 75 basis points than to 100 basis points," said Jim Barnes, director of fixed income at Bryn Mawr Trust.
A strong start to the trading session for stocks on Wall Street fizzled out, however, as a drop in Apple Inc (AAPL) weighed following a Bloomberg report that the iPhone maker plans to slow hiring and spending growth next year in some units to cope with a potential economic downturn
It had touched my previous forecast of 110 as my last target.
Federal Reserve will take a more aggressive approach in hiking interest rates next week.
Expectations for a 100 basis points rate hike by the Fed at its policy meeting next week stood at about 29%, according to CME's FedWatch Tool after reaching as high as 80% last week.
The Fed seems to be leaning more towards 75 basis points than to 100 basis points," said Jim Barnes, director of fixed income at Bryn Mawr Trust.
A strong start to the trading session for stocks on Wall Street fizzled out, however, as a drop in Apple Inc (AAPL) weighed following a Bloomberg report that the iPhone maker plans to slow hiring and spending growth next year in some units to cope with a potential economic downturn
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