[USDX] Ahead of Fed Decision 2019 1030

cf. [EUR] Euro in Correction 2019 1024
cf. [EUR] Rising Euro after Correction 2019 1021
cf. [GBP] Rising Sterling 2019 1018
cf. [EUR] Long bias to Euro in Short term 2019 1011

Federal Open Market Committee, FOMC is hold and release the benchmark interest rate on Wednesday, and currency goods of USDX, currency pair, futures and etc. await FOMC's release moving steady.

USDX, dollar index hits 97.72, currency pair EUR/USD is 1.11105 and euro FX-2019 12 or 6EZ19 is 1.11460 as of 14:15(UTC).

Market participants expect Federal Reserve will cut its benchmark interest rate 25bp(0.25 percent) to 1.50~1.75 percent, interest rate band. It means U.S. Dollar falls down.

But market watches Federal Chair's mouth rather than interest rate. Chicago Mercantile Exchange, CME Fedwatch anticipates Fed's rate-cut with 97 percent, news medias already reported.Though Fed cuts the rate, Fed chair Jerome Powell's hint of the end of rate-cut cycle gives strong momentum to greenback and dollar index, USDX may keep its upward trend in long term

And growing risk of global recession calls safe-haven asset including USD, it raise the price of USD.

Goldilocks in U.S. shows its termination with bad economy indices step by step. Advance GDP in third quarter hit 1.9 percent below 2.0 percent. It makes USD down but global economy is worse.

If Fed cut the interest rate, it is 1.50~1.75 percent higher than euro's one, zero percent. Greenback still has energy of rising.





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