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  • Powell Confirms July Rate Cut

    From blogs.uoregon.edu

    Federal Reserve Chairman Jerome Powell yesterday did not use his Congressional testimony to walk back market expectations for easier policy. Instead, he effectively confirmed that the Fed intended to cut rates at the end of this month. The Fed is taking out insurance against increasing downside risks given that the cost of that insurance is cheap given low inflation. Eventually future rate cuts will have to be about the data not just the risks. Powell left little doubt about his policy intentions. Importantly, Powell said that the downside risks that had vexed the Fed at the June FOMC meeting had not waned. Those ... (full story)

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  • Post #1
  • Quote
  • Jul 11, 2019 1:14pm Jul 11, 2019 1:14pm
  •  TraderTero
  • Joined Apr 2017 | Status: Member | 786 Comments
Did not confirm anything. Today's numbers confirmed that there will be no rate cut in July.
3
  • Post #2
  • Quote
  • Jul 11, 2019 1:21pm Jul 11, 2019 1:21pm
  •  Lante
  • | Joined Apr 2018 | Status: Junior Member | 2 Comments
Mr. Powell does not confirm anything, please do not send false news based on his interpretation.
  • Post #3
  • Quote
  • Jul 11, 2019 1:26pm Jul 11, 2019 1:26pm
  •  kuldeep4350
  • | Joined Aug 2016 | Status: Member | 115 Comments | Online Now
ya the bloody market maker wants his statement about rate cut but he not tell this statement so that bloody media make rumor like this of rate cut so that they manipulate the market and suck retail trader money
2
  • Post #4
  • Quote
  • Jul 11, 2019 1:27pm Jul 11, 2019 1:27pm
  •  Guest
  • | IP XX.XX.49.125
Indeed, I am with you on this, it is crazy talk to cut with no basis and there has not been a reason all along. It is just market participants wishing for the Fed to cut to juice up markets.
  • Post #5
  • Quote
  • Jul 11, 2019 1:37pm Jul 11, 2019 1:37pm
  •  OnlineAddict
  • Joined May 2014 | Status: Member | 1,883 Comments
Quoting TraderTero
Disliked
Did not confirm anything. Today's numbers confirmed that there will be no rate cut in July.
Ignored
He did, I watched the whole 2 hours or more. And today's numbers are meaningless to anyone but retailers.

And he also said several times that the economy can only get worse from this point on. But that is an understatement, I think the next collapse will make people miss the one from 2008.
4
  • Post #6
  • Quote
  • Jul 11, 2019 1:37pm Jul 11, 2019 1:37pm
  •  ayub11
  • | Joined Feb 2013 | Status: BD trader | 57 Comments
Try to interpret the chart & then you'll find clue that market makers are going soon in action.
1
  • Post #7
  • Quote
  • Jul 11, 2019 1:38pm Jul 11, 2019 1:38pm
  •  echo1
  • | Joined Jun 2018 | Status: Member | 173 Comments
Quoting kuldeep4350
Disliked
ya the bloody market maker wants his statement about rate cut but he not tell this statement so that bloody media make rumor like this of rate cut so that they manipulate the market and suck retail trader money
Ignored
sorry but you are not important, neither am I. Retail traders make up a very small amount of money out of the whole FX market. Even if no retail traders participated the market would go on without. Yes retail traders have an impact but its very small.
The sooner you accept that the market is not against you, but its you against you, the sooner you will be successful and less stressed. The market will do what it will do regardless you have a position or not... think about that!
1
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  • Post #8
  • Quote
  • Jul 11, 2019 1:46pm Jul 11, 2019 1:46pm
  •  FKhan
  • Joined Jan 2016 | Status: Member | 5 Comments
Quoting OnlineAddict
Disliked
{quote} He did, I watched the whole 2 hours or more. And today's numbers are meaningless to anyone but retailers. And he also said several times that the economy can only get worse from this point on. But that is an understatement, I think the next collapse will make people miss the one from 2008.
Ignored
I watched it for the most part too. He didn't give away much though. Did sound dovish for sure, but to any questions abt the cut, he seemed unfazed. Also the fact that all the congress members were thanking him for keeping politics out and askibg climate change questions was bothersome lol

Anywyas i want eurusd at 1.145 or so and ill b out.
We rogue citizens dont give a f 👶🏼
  • Post #9
  • Quote
  • Jul 11, 2019 1:48pm Jul 11, 2019 1:48pm
  •  TraderTero
  • Joined Apr 2017 | Status: Member | 786 Comments
Quoting OnlineAddict
Disliked
{quote} He did, I watched the whole 2 hours or more. And today's numbers are meaningless to anyone but retailers. And he also said several times that the economy can only get worse from this point on. But that is an understatement, I think the next collapse will make people miss the one from 2008.
Ignored
FED will cut when the economy collapses, not before it. You don't cut rates when you have full employment. Just check the weekly unemployment numbers. There is no such thing as insurance rate cut.
2
  • Post #10
  • Quote
  • Jul 11, 2019 1:53pm Jul 11, 2019 1:53pm
  •  NotAtrader
  • Joined Oct 2016 | Status: Not A Trader. A Money Machine. | 1,504 Comments
All this game begins to be pretty annoying. Anyone with the necessary portion brain in his head would understand that this is a game and the game makers want You to play this game so that they can take Your money.
This is already quite funny and it will end in a big surprising move.
  • Post #11
  • Quote
  • Jul 11, 2019 1:57pm Jul 11, 2019 1:57pm
  •  OnlineAddict
  • Joined May 2014 | Status: Member | 1,883 Comments
Quoting TraderTero
Disliked
{quote} FED will cut when the economy collapses, not before it. You don't cut rates when you have full employment. Just check the weekly unemployment numbers. There is no such thing as insurance rate cut.
Ignored
Or you can prevent a collapse(well, rather delay it) by easing during an overheat of economy, which is now.
1
  • Post #12
  • Quote
  • Jul 11, 2019 1:57pm Jul 11, 2019 1:57pm
  •  sadeghi
  • | Joined Feb 2019 | Status: Member | 552 Comments
Quoting TraderTero
Disliked
{quote} FED will cut when the economy collapses, not before it. You don't cut rates when you have full employment. Just check the weekly unemployment numbers. There is no such thing as insurance rate cut.
Ignored
forgive me buddy, when economy is at the full employment, inflation must be stable ( at target 2% ), inflation is under target at the moment, hence they should lower interest rate for raising inflation.
  • Post #13
  • Quote
  • Jul 11, 2019 2:03pm Jul 11, 2019 2:03pm
  •  TraderTero
  • Joined Apr 2017 | Status: Member | 786 Comments
Quoting sadeghi
Disliked
{quote} forgive me buddy, when economy is at the full employment, inflation must be stable ( at target 2% ), inflation is under target at the moment, hence they should lower interest rate for raising inflation.
Ignored
Not much under the target, 0.1 or 0.2 below. The employment numbers should count more.
  • Post #14
  • Quote
  • Jul 11, 2019 2:22pm Jul 11, 2019 2:22pm
  •  sadeghi
  • | Joined Feb 2019 | Status: Member | 552 Comments
Quoting TraderTero
Disliked
{quote} Not much under the target, 0.1 or 0.2 below. The employment numbers should count more.
Ignored
based on released data today, 0.4 under target ( %1.6 ).
  • Post #15
  • Quote
  • Edited at 2:46pm Jul 11, 2019 2:36pm | Edited at 2:46pm
  •  TraderTero
  • Joined Apr 2017 | Status: Member | 786 Comments
Quoting sadeghi
Disliked
{quote} based on released data today, 0.4 under target ( %1.6 ).
Ignored
The core consumer price index, which excludes food and energy, rose 0.3% from the prior month, the most since January 2018, and 2.1% from a year earlier, Labor Department data showed Thursday. Both figures exceeded estimates. The broader CPI climbed 0.1%, also more than projected, and 1.6% annually.
https://www.bloomberg.com/news/artic...premium-europe

"US core inflation posts biggest gain in nearly 1 1/2 years"
https://www.cnbc.com/2019/07/11/cons...-june-2019.htm

So it is getting closer to the target.
  • Post #16
  • Quote
  • Jul 11, 2019 5:02pm Jul 11, 2019 5:02pm
  •  mbrown
  • | Commercial Member | Joined May 2015 | 12 Comments
Quoting OnlineAddict
Disliked
{quote} He did, I watched the whole 2 hours or more. And today's numbers are meaningless to anyone but retailers. And he also said several times that the economy can only get worse from this point on. But that is an understatement, I think the next collapse will make people miss the one from 2008.
Ignored
Online Addict for Prime Minstral!!!
  • Post #17
  • Quote
  • Jul 11, 2019 11:03pm Jul 11, 2019 11:03pm
  •  Myeza
  • | Joined Jul 2018 | Status: Junior Member | 1 Comment
Quoting ayub11
Disliked
Try to interpret the chart & then you'll find clue that market makers are going soon in action.
Ignored
So you're basically saying that we should jut sell the Dollar at all costs? Damn.
  • Post #18
  • Quote
  • Jul 11, 2019 11:14pm Jul 11, 2019 11:14pm
  •  4x_Trader
  • Joined Dec 2006 | Status: Is the market a FRIENDLY place to U | 16 Comments
A strong June US jobs report last Friday heightened expectations the FED was more likely to cut by 25 bps rather than 50bps on July 31 due to tame inflation and trade war....
  • Post #19
  • Quote
  • Jul 12, 2019 6:28am Jul 12, 2019 6:28am
  •  RossEdwards
  • Joined Jun 2019 | Status: Member | 658 Comments | Invisible
Quoting OnlineAddict
Disliked
{quote} He did, I watched the whole 2 hours or more. And today's numbers are meaningless to anyone but retailers. And he also said several times that the economy can only get worse from this point on. But that is an understatement, I think the next collapse will make people miss the one from 2008.
Ignored
Im inclined to agree with you. Why have we seen equities rise consistently? I would suggest its because 2/3 of buyers on S&P and Dow are companies buying back their shares from surpluses created by the Trump tax breaks. This is not real investor demand and back in the day it would have been illegal market rigging.
  • Post #20
  • Quote
  • Jul 12, 2019 8:07am Jul 12, 2019 8:07am
  •  bshappens
  • | Joined Jul 2016 | Status: Member | 179 Comments
Quoting RossEdwards
Disliked
{quote} Im inclined to agree with you. Why have we seen equities rise consistently? I would suggest its because 2/3 of buyers on S&P and Dow are companies buying back their shares from surpluses created by the Trump tax breaks. This is not real investor demand and back in the day it would have been illegal market rigging.
Ignored
You mean in Gordon Gekko's days...
1
  • Post #21
  • Quote
  • Jul 12, 2019 11:21am Jul 12, 2019 11:21am
  •  SurfsUp
  • Joined May 2019 | Status: Member | 53 Comments
One of the more interesting quotes from the article....
Quote
Disliked
"In other words, Trump got the Fed to cut rates, but had to damage the economy to do it."
  • Post #22
  • Quote
  • Edited at 6:35am Jul 14, 2019 6:06am | Edited at 6:35am
  •  bshappens
  • | Joined Jul 2016 | Status: Member | 179 Comments
The rate is still the same? President can't decide anything regarding the BANK nor can the congress (since )...

This is I guess the 'version' of 'truth' everyone should understand before thinking of what politicians can do:
Inserted Video


But... it's perhaps ones own perception that drives the expectations.
  •  Guest
  • | IP X.XXX.214.113
Join EE
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  • Story Stats
  • Posted: Jul 11, 2019 1:10pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 22  /  Views: 6,546
  • Linked events:
    US Federal Funds Rate
    US FOMC Statement
    US FOMC Press Conference
    US Fed Chair Powell Testifies
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