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Jerome Powell signaled further interest rate cuts

Jerome Powell signaled further interest rate cuts | 09 October 2019

09 October 2019, USD/JPY

Jerome Powell signaled further interest rate cuts

USDJPY trading plan:

We are expecting a bullish rally in the stock markets, which will have a positive impact on the value of the currency pair USDJPY. The U.S. Treasury yield curve steepened in Asia after U.S. Federal Reserve Chair Jerome Powell signaled further interest rate cuts and the resumption of bond purchases to address a recent spike in money markets rates. The Fed has already cut its benchmark twice this year, with policy makers led by Chairman Jerome Powell leaning towards acting again. This is a positive signal for the U.S. stock market!

Trading recommendation: Buy 107.05 and take profit 107.45.

TRADE METALS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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