The FOMC meeting was the big event from yesterday’s trading session and as widely expected the Fed left the Funds Rate unchanged and made a small tweak to its balance sheet unwind guidance noting that a start should occur “relatively soon” rather than “this year”, as previously stated. Ahead of the meeting markets were essentially marking time, but reaction to the Statement has seen UST yields rally and a broad US Dollar sell off while US equities are essentially unchanged after a small initial dip. The Fed left the market with the scent that a rate hike should still be expected this year, but the lack of specific timing on it’s balance sheets plans and may be a small word change on inflation appear to have been the excuse for the move lower in UST yields and the Dollar.

To mark my 1375th issue of Tradernoble Daily Commentary I am offering a special 2 year rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day. This offer is open to both new and existing members and if anyone is interested can you please contact me on bryan@tradernoble.com for details.

For anyone following my Platinum Service it made 54 points yesterday and is now ahead by 894 points for July, having made 1023 points in June, 1071 in May, 1376 in April, 1335 in March, 1481 in February and 1734 in January. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1700 points.

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