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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (15253)	12/22/2015 11:22:45 AM
From: Goose94	Read Replies (1) of 203850

Dovish Fed Comments Halt Dollar Rally The U.S. dollar index is set for its worst month in nine months with a current draw down of roughly 2.5%. The dollar is still up 25% from its 2014 lows but may have found its near-term top. We’ve rallied in anticipation of the Fed raising rates—which they did for the first time in 10 years this month—but the dovish comments that accompanied the hike have halted the dollar rally. Excessive dollar strength is something the Fed doesn’t want and may prevent them from near-term future hikes. Markets are only pricing in a 51% chance of another hike between now and April. The Fed was backed in a corner and had to raise rates in December, but they also know with tumbling oil prices and a high dollar, it will be difficult to reach and maintain their GDP objective of 2.0%. We are currently trading 98.035 with the first level of support coming in at 97.45 and the next level coming in at 96.53. Frank D Cholly

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