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Fed cuts funds rate by 0.25%-EUR/USD slides on prospect of slower Fed easing next year
As was entirely expected, the US Federal Reserve have lowered their Fed Funds rate by 0.25% this evening. However, at the same time they have changed their Dot Plot outlook for interest rates in 2025, 2026 and 2027. So, this does suggest a slower pace of easing going forward. It is that news which has. The USD/JPY was trading around 153.80 leading into this announcement. It has charged above 154 on this news and the EUR/USD has slumped to fresh session lows on this news, below 1.0450. This shift in the outlook has surprised the markets and sent the dollar on a tear higher
Market News
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Nasdaq 100 futures on the drift lower just now
Yesterday the tech sector and the Nasdaq 100 did stage a recovery and that saw the index rise after the European close. The Nasdaq 100 rose above 19... -
Important Addendum to the penultimate update on the DAX
This might yet prove to be important by the end of the day, but in the penultimate update on the DAX it was noted the index had tested the record high... -
German ZEW index beats forecasts but not on current conditions- EUR/USD unmoved so far
The March reading of the German ZEW, economic sentiment index has now been released. As noted earlier, it was expected to show a marked improvement...
