- If you have a view (look our previous analysis here: https://www.tradingview.com/chart/EURUSD...), put your stop loss in BE and let run your profit.
- if you are a view (speculative), look at 1.066 for potential reversal area with stop below 1.062 and target @ 1.076/1.079
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- ECB Publishes Account of Monetary Policy Meeting (12.30 London Time)
- Initial Jobless Claims (13.30 London Time)
- Continuing Jobless Claims (13.30 London Time)
- FOMC Member Lockhart Speaks (17.30 London Time)
- FOMC Member Stanley Fischer Speaks (21.45 London Time)
1) The Fed policy makers purposefully included language into the October FOMC statement so as to emphasize “while no decision had been made, it may well become appropriate to initiate the normalization process at the next meeting ”
2) It was noted in the minutes “that beginning the normalization process relatively soon would make it more likely that the policy trajectory after liftoff could be shallow… It was noted that the expected path of the federal funds rate, rather than the exact timing of the initial increase, was most important in influencing financial conditions and thus in affecting the outlook for the economy and inflation” and,
3) There remains significantly differing opinions among the FOMC members whether the necessary conditions have been met for normalizing/tightening policy as “some participants thought that the conditions for beginning the policy normalization process had already been met. Most participants anticipated that, based on their assessment of the current economic situation and their outlook for economic activity, the labor market, and inflation, these conditions could well be met by the time of the next meeting. Nonetheless, they emphasized that the actual decision would depend on the implications for the medium-term economic outlook of the data received over the upcoming intermeeting period. Some others, however, judged it unlikely that the information available by the December meeting would warrant raising the target range for the federal funds rate at that meeting.
- Policymakers may not be gaining sufficient tractions to achieve the inflation target
- Must re-examine degree of policy accommodation in Dec and be ready to act if necessary
- Policymakers expect a delay in achieving the inflation target
- Revision of inflation outlook is potentially worrisome