Powell’s talk about being just below the neutral rate sent the greenback lower. But was it that dovish? Here is their view, courtesy of eFXdata: CIBC Research discusses its reaction to today’s Fed Powell speech. “The Fed Chair gave some comfort to those of use who think a 4% fed funds rate would be overkill, by saying that rates today are “just below neutral” and emphasizing that there isn’t a pre-set path… But remember that the last FOMC message argued that rates would have to go above neutral in order to end up at a non-inflationary unemployment rate that they judged is higher than the current jobless rate. He still sees a lot to like about the US outlook, a message to us that would be consistent with hiking again in December. Moreover, he didn’t use this opportunity to point out signs of slowing either in the US or globally,” CIBC notes. “So while our forecast is for only 2 hikes next year (well below the last FOMC dot projection) and an ease in 2020, we don’t see this speech as quite as dovish as the market seems to be taking it. The bulk of his remarks were focussed on financial stability, with the Fed seeing the financial sector on a solid footing, asset prices looking reasonable, but some concern expressed about corporate debt quality,” CIBC adds. For lots more FX trades from major banks, sign up to eFXplus By signing up for eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next US: Core PCE likely to decelerate in October – TDS FX Street 4 years Powell's talk about being just below the neutral rate sent the greenback lower. But was it that dovish? Here is their view, courtesy of eFXdata: CIBC Research discusses its reaction to today's Fed Powell speech. "The Fed Chair gave some comfort to those of use who think a 4% fed funds rate would be overkill, by saying that rates today are "just below neutral" and emphasizing that there isn't a pre-set path... But remember that the last FOMC message argued that rates would have to go above neutral in order to end up at a non-inflationary unemployment rate that they… 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.