Fed holds rates steady, signals just one cut in 2024
The Federal Reserve kept its benchmark interest rate unchanged and revised its forecast to just one rate cut this year, citing persistent inflation above the 2% target.
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60+
Currency pairs
2,400+
Trade ideas posted
50K+
Active traders
EUR/USD
1.0841
+0.11%
H: 1.0867
GBP/USD
1.2631
-0.19%
H: 1.2671
USD/JPY
149.85
+0.28%
H: 150.12
USD/CHF
0.9011
-0.09%
H: 0.9041
AUD/USD
0.6521
+0.48%
H: 0.6537
NZD/USD
0.5986
+0.32%
H: 0.5999
USD/CAD
1.3643
-0.12%
H: 1.3672
EUR/GBP
0.8584
+0.10%
H: 0.8601
Core CPI m/m
Fcst
0.3%
CPI y/y
Fcst
3.1%
Crude Oil Inventories
Fcst
-1.8M
GDP m/m
Fcst
0.1%
ECB Main Refinancing Rate
Fcst
4.50%
ECB Press Conference
How retail traders are positioned right now
Contrarian signal: when retail is heavily long, institutions are often short — and vice versa.
The Federal Reserve kept its benchmark interest rate unchanged and revised its forecast to just one rate cut this year, citing persistent inflation above the 2% target.
European Central Bank officials have signalled a rate cut is likely at the June meeting after eurozone inflation fell closer to target, with President Lagarde confirming conditions are being met.
Gold prices hit an all-time high above $2,350 per ounce as the dollar retreated on softer US data, with safe-haven demand also supported by geopolitical tensions in the Middle East.
The UK economy grew by 0.1% in January, narrowly avoiding a technical recession after two consecutive quarters of contraction. Services and manufacturing both contributed to the pickup.
The dollar-yen pair is trading close to the 150.00 level as markets await the Bank of Japan's rate decision this week. Some analysts expect the BoJ to end negative rates for the first time since 2016.
Bitcoin fell below $67,500 for the first time in three days as profit-taking pressured the market. Analysts note the correction is healthy after BTC's recent rally to record highs above $73,000.
FX_Phoenix
71% win rate · 2h ago
Entry
1.0825
SL
1.0785
TP
1.0925
Price has bounced off the key 1.0820 support zone with a bullish engulfing candle on the 4H. Looking for continuation toward the 1.0920 resistance. CPI data tomorrow could act as a catalyst.
GoldTrader_K
68% win rate · 4h ago
Entry
2325.00
SL
2295.00
TP
2390.00
Gold pulled back to the breakout zone after the record run. The daily structure remains bullish and any dip toward 2320–2330 offers a favourable entry. Fed tone is supportive for metals.
SwingSniper
64% win rate · 6h ago
Entry
189.50
SL
190.20
TP
187.80
GBP/JPY rejected from the key 190.00 psychological level twice this week. With BoJ potentially hiking and risk sentiment softening, I'm looking for a retest of 187.80 support.
Ranked by total pips gained on published trade ideas
GoldTrader_K
XAU/USD
71%
Win rate
+4821
Pips
1:2.8
Avg R:R
FX_Phoenix
EUR/USD
68%
Win rate
+3987
Pips
1:2.3
Avg R:R
SwingSniper
GBP/JPY
66%
Win rate
+3412
Pips
1:2.6
Avg R:R
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