FX Breakout Monitor September 19 2019
The latest FX Breakout monitor, which highlights new highs and lows (on a daily closing basis) in major and some minor FX crosses, as well as gold and silver, on the short and medium term time horizons, highlighting where the market action is. The monitor also generates automated trade setups for traders looking to trade breakout developments, in hopes that momentum will continue.
FX Update: Powell says TOMO to come another day
Yesterday’s FOMC meeting made clear that the Fed’s interest rate setting regime is not the chief focus here, but rather how the Fed will continue to respond to funding issues like the one that showed up this week and required an emergency liquidity injection on Tuesday. While the Fed put a friendly face on the situation, it is clear that it is effectively losing control of its balance sheet.