NZDUSD Technical Analysis – The USD stays under pressure ahead of the FOMC ...Middle East

Fundamental OverviewLast Thursday, WSJ’s Timiraos published an article which seemed suggesting that a 50 bps cut was still being discussed. The market responded by raising 50 bps cut probabilities to around 40% from 13% before the news. Nick Timiraos is considered a Fed “insider”, so the market is attentive to all of his pieces concerning potential Fed decisions. Since then, the 50 bps camp got more vocal and the probability for the Fed to cut by 50 bps at today’s meeting stands now around 61% with a total of 115 bps of easing by year-end. This repricing weakened the US Dollar across the board as Treasury yields fell further. Once we are done with the Fed decision though, the focus will swit

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