September
Building Permits and FOMC UpdateHello folks.
I wanted to tell you that I'm not supposed to trade on Building Permits because it has a weak volatile movement, but I got out with +60,00 profit anyway.
For FOMC, if you want my point of view, they won't be raising any rates until December. So I believe we're going to trade nicely tomorrow. You'll be surprised of how I will know whether it will go Long or Short, you're not going to be disappointed. We'll have to wait a little more time though.
That was just a small update, folks, stay tuned!
MACRO VIEW: IRX HINTS NO SEPTEMBER RATE HIKE BY FEDIRX (13-week treasury bill index) failed to hold above relevant highs of 0.07% and reverted back to hear-zero levels.
Due to its correlation to Effective Fed Funds rate, IRX will serve as an expectations indicator of upcoming federal reserve rate hike
Most likely reason of the lack of expectations regarding the rate hike in September is another leg of downtrend in oil happening currently, which will again drive US inflation towards zero and away from the FED's 2% targat (one of 2 key conditions of the perspective rate hike)
