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Today's Market Fundamentals
The morning session was dominated by Brexit headlines which dominated most of the day, PM May was trying to get a three month extension but was encountering some problems, with emergency votes needed to question the length or an added delay. It seems as though not only have the British public had enough of this shambolic process, but so have the EU. It is rumoured that the EU have put the ball in the court of the UK by stating that the UK must supply guarantees that a deal will be agreed or no extension will be given – it seems they are forcing the UK to get it done.
The FOMC has come and gone, as expected the rates were left on hold – and as expected the committee was somewhat more dovish. The Fed are looking for only a single rise in 2020 and nothing for the rest of the year. Growth was cut to 2.1% and 1.9% over the same period but they did hint that the economy was in a good place.
The dollar weakened on the back of the meeting, for me it seems as though the US is still in a stronger place compared to other economies and I will be looking to fade those moves today.
Today's Market Trading Levels
1. EURUSD SELL 1.1435 – 1.1450
2. AUDUSD SELL 0.7150 – 0.7170
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