TRADELINE LIVE LATEST NEWS UPDATE :
This afternoon the Federal Reserve concluded this month’s Federal Open Market Committee (FOMC) meeting. Immediately following the conclusion of today’s meeting, the Fed released a statement. There was no press conference held after the meeting. However, Chairman Powell has stated that next year every meeting will conclude with a press conference.
“The labor market has continued to strengthen and ... economic activity has been rising at a strong rate.”
As anticipated, the statement that was released confirmed that the Federal Reserve will hold interest rates steady and said that ongoing strong job gains and household spending have kept the U.S. economy on track. Currently, the Fed has its benchmark target for interest rates (Fed funds rate) at 2% to 2.25%.
The statement also confirmed that there is a high probability that they will move forward with one more rate hike this year which will be announced at the conclusion of the December FOMC meeting. “The Committee expects further gradual increases in the target range for the federal funds rate.”
The tone of today’s statement was very much in line with the existing Federal Reserve’s monetary policies. In fact, the only change from the last statement released by the Fed was that members noted that “the growth of business investment had moderated in the third quarter.”
According to the CME’s FedWatch tool, the probability remains high that there will be one more rate hike in December. This tool is predicting that there is a 71.4% probability that there will be a quarter percent increase in the Fed funds rate, a 6.4% probability that there will be a half a percent rate hike and a 22.2% probability that the Federal Reserve will leave rates unchanged in December.
The silver bears have the overall near-term technical advantage, but recent price action suggests a market low was put in place in September. Silver bulls' next upside price breakout objective is closing prices above solid technical resistance at $15.00 an ounce. The next downside price breakout objective for the bears is closing prices below solid support at the September low of $13.965. First resistance is seen at this week’s high of $14.775 and then at the October high of $14.95. Next support is seen at last week’s low of $14.24 and then at $14.00. Wyckoff's Market Rating: 2.5.
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This afternoon the Federal Reserve concluded this month’s Federal Open Market Committee (FOMC) meeting. Immediately following the conclusion of today’s meeting, the Fed released a statement. There was no press conference held after the meeting. However, Chairman Powell has stated that next year every meeting will conclude with a press conference.
“The labor market has continued to strengthen and ... economic activity has been rising at a strong rate.”
As anticipated, the statement that was released confirmed that the Federal Reserve will hold interest rates steady and said that ongoing strong job gains and household spending have kept the U.S. economy on track. Currently, the Fed has its benchmark target for interest rates (Fed funds rate) at 2% to 2.25%.
The statement also confirmed that there is a high probability that they will move forward with one more rate hike this year which will be announced at the conclusion of the December FOMC meeting. “The Committee expects further gradual increases in the target range for the federal funds rate.”
The tone of today’s statement was very much in line with the existing Federal Reserve’s monetary policies. In fact, the only change from the last statement released by the Fed was that members noted that “the growth of business investment had moderated in the third quarter.”
According to the CME’s FedWatch tool, the probability remains high that there will be one more rate hike in December. This tool is predicting that there is a 71.4% probability that there will be a quarter percent increase in the Fed funds rate, a 6.4% probability that there will be a half a percent rate hike and a 22.2% probability that the Federal Reserve will leave rates unchanged in December.
The silver bears have the overall near-term technical advantage, but recent price action suggests a market low was put in place in September. Silver bulls' next upside price breakout objective is closing prices above solid technical resistance at $15.00 an ounce. The next downside price breakout objective for the bears is closing prices below solid support at the September low of $13.965. First resistance is seen at this week’s high of $14.775 and then at the October high of $14.95. Next support is seen at last week’s low of $14.24 and then at $14.00. Wyckoff's Market Rating: 2.5.
WhatsApp,Facebook,Instagram.
www.tradelinecommodity.com
India's No.1mcx Tips Provider
Missed Call @:/8057046270/8057690837
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