Following a subdued move through the major part of Tuesday’s trading action, the cable gained some traction in the wake of some aggressive US dollar selling, triggered by the Fed’s surprise move to cut interest rates by 50bps, Haresh Menghani from FXStreet informs. Key quotes “The US central bank delivered an emergency cut ahead of the FOMC meeting on March 18 to cushion the potential impact from the spread of coronavirus on the economy.” “The Fed Chairman Jerome Powel said that the fundamental of the US economy remained strong but the coronavirus outbreak posed evolving risks to the outlook.” “Expectations that the Bank of England might also cut interest rates at its upcoming meeting on March 26 further collaborate towards capping gains.” “Market participants now look forward to the final UK Services PMI for some short-term impetus.” “Later during the early North-American session, the US economic docket – featuring the releases of the ADP report on private-sector employment and the ISM Non-Manufacturing PMI – might influence the USD price dynamics and further contribute towards producing some meaningful trading opportunities.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next India’s crypto market set for a grand revival: Supreme Court lifts RBI’s ban on banking support to crypto entities FX Street 3 years Following a subdued move through the major part of Tuesday's trading action, the cable gained some traction in the wake of some aggressive US dollar selling, triggered by the Fed's surprise move to cut interest rates by 50bps, Haresh Menghani from FXStreet informs. Key quotes “The US central bank delivered an emergency cut ahead of the FOMC meeting on March 18 to cushion the potential impact from the spread of coronavirus on the economy.” “The Fed Chairman Jerome Powel said that the fundamental of the US economy remained strong but the coronavirus outbreak posed evolving risks to the outlook.” “Expectations… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
