Incoming Interest Rate Hike
Global Financial Markets are positioned for an Interest Rate Hike. The Bank of England in the United Kingdom is gearing up for an interest rates hike towards the end of the year. The Bank of Canada is seeking to raise rates towards the middle of next year. And, the United States is positioned for a minimum of a 25 basis points rates hike during the September meeting. According to Marc Chandler of Bannockburn Forex the September Rate hike from the United States Federal Reserve could be as much as 50 basis points.
This follows and interest rate hike from New Zealand and Norway previously this year.
In this Trading Interview Marc Chandler from Bannockburn Global Forex sits down with Blake Morrow of Traders Summit. There were a lot of topics covered, but the primary focus was around global interest rates. In addition to Global Interest rates they also discussed the breakout in the USDJPY and how the JPY could weaken further into a new “range” from the 110.00-115.00. Marc goes into detail about how the Dollar Yen in a range bound Forex currency pair. He does not really believe it ever breaks out. Rather it breaks out of one current range, just to find another range.
Bannockburn Global Forex