Speculators anticipate hawkish cut by Fed leading dollar to potentially resume to 108

From Investing.com: 2024-12-17 07:37:00

This week, the Bank of Japan, Bank of England, and the Fed are holding meetings, with all eyes on the Fed expected to cut rates. Speculators are wondering if it will be a hawkish cut, given US economic projections. There’s a 97% probability of a rate cut, but if the Fed surprises by not cutting, market reactions could be significant. From an Elliott wave perspective, the yen is in recovery mode, possibly heading towards 108 again, while metals like gold may see more downside. Keep an eye on resistance levels at 108k, followed by 112k-115k.



Read more at Investing.com: Dollar Can Resume To 108 On Potential Hawkish Cut By FED