Traders now see an 84 percent chance that the Federal Reserve (Fed) will cut its benchmark borrowing costs by 75 basis points when it meets March 17-18, according to CME’s FedWatch tool. The probability of that steep of a cut in interest rates stood at 65 percent on Friday. The odds have increased with an all-out oil price war between Saudi and Russia bolstering the coronavirus-led riak aversion in the markets. If the Fed obliges, the fed funds rate would fall to a range of 0.25%-0.5% from the current target of 1%-1.25%. The central bank cut rates by 50 basis points last week to contain the negative impact of coronavirus on the US economy and financial markets. 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 AUD/USD Price Analysis: Confirms short-term rising wedge FX Street 3 years Traders now see an 84 percent chance that the Federal Reserve (Fed) will cut its benchmark borrowing costs by 75 basis points when it meets March 17-18, according to CME's FedWatch tool. The probability of that steep of a cut in interest rates stood at 65 percent on Friday. The odds have increased with an all-out oil price war between Saudi and Russia bolstering the coronavirus-led riak aversion in the markets. If the Fed obliges, the fed funds rate would fall to a range of 0.25%-0.5% from the current target of 1%-1.25%. The central bank cut rates by 50 basis… 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.
