Forecast for Q1'16 - levels for GBP/USD - page 7
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Press review
Sergey Golubev, 2016.03.29 21:17
"The FOMC left the target range for the federal funds rate unchanged in January and March, in large part reflecting the changes in baseline conditions that I noted earlier. In particular, developments abroad imply that meeting our objectives for employment and inflation will likely require a somewhat lower path for the federal funds rate than was anticipated in December.
Given the risks to the outlook, I consider it appropriate for the Committee to proceed cautiously in adjusting policy. This caution is especially warranted because, with the federal funds rate so low, the FOMC's ability to use conventional monetary policy to respond to economic disturbances is asymmetric. If economic conditions were to strengthen considerably more than currently expected, the FOMC could readily raise its target range for the federal funds rate to stabilize the economy. By contrast, if the expansion was to falter or if inflation was to remain stubbornly low, the FOMC would be able to provide only a modest degree of additional stimulus by cutting the federal funds rate back to near zero.9
One must be careful, however, not to overstate the asymmetries affecting monetary policy at the moment. Even if the federal funds rate were to return to near zero, the FOMC would still have considerable scope to provide additional accommodation. In particular, we could use the approaches that we and other central banks successfully employed in the wake of the financial crisis to put additional downward pressure on long-term interest rates and so support the economy--specifically, forward guidance about the future path of the federal funds rate and increases in the size or duration of our holdings of long-term securities. While these tools may entail some risks and costs that do not apply to the federal funds rate, we used them effectively to strengthen the recovery from the Great Recession, and we would do so again if needed."======
14 pips price movement for EURUSD was immediate effect after Fed Chair Yellen Speech. The medium term situation related to this Speech after publishing it on Federal Reserve website are the following:
1. EURUSD M5: 82 pips price movement by Fed Chair Yellen Speech news event :
2. GBPUSD M5: 106 pips price movement by Fed Chair Yellen Speech news event :
3. USDJPY M5: 55 pips price movement by Fed Chair Yellen Speech news event :
4. GOLD (XAU/USD) M5: 1,406 pips price movement by Fed Chair Yellen Speech news event :
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Market Condition Evaluation based on standard indicators in Metatrader 5
Sergey Golubev, 2016.03.30 08:55
Quick Technical Overview for GBP/USD: breakout with 1.4514 bullish target tto re-enter
GBP/USD: bullish breakout. Intra-day H4 price is on breakout located above Ichimoku cloud and Senkou Span line which is the virtual border between the primary bearish and the primary bullish trend on the chart. The price is breaking 1.4403 resistance level to above for the breakout to be continuing with 1.4514 as a target to re-enter.
There are the following news events which will be affected on GBP/USD price movement for the week: