Wednesday Forex Traders Money Market Update. 30th October 2019

Currency and stock index markets remain mostly rangebound ahead of Thursday mornings US Federal Reserve statement where it is widely tipped the US Fed will drop interest rates for the 3rd time in 2019. It’s amazing to think that this time last year the Fed was gearing up for one more rate increase in December and telling the market it expected to raise rates twice in 2019. The stock market sank on the news and it wasn’t until late January before the market recovered.
What a Central Bank says and what a Central Bank does can often be miles apart but Thursday’s statement will be closely watched for any indications on what the Fed is likely going to do in 2020. Stock markets are at all time highs and the market has priced in the expectation the Fed lowers the cash rate by 0.25% this month. I am expecting the Fed to announce a rate cut but advise the market they will “wait and see for a while” meaning no more rate cuts in 2019 or early 2020. This outcome would likely see stocks fall from their highs and send the safe haven currencies back higher including the US Dollar.

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Andrew is a professional trader and successful investor who has a strong focus on education.

He is a regular Sky News Money Channel Guest and one Australia’s most awarded and respected financial experts, and is regularly contacted by the Australian Media for the latest on what is happening with the Australian Dollar.

Director at LTG GoldRock, Andrew Barnett, guides thousands of traders around the world in the live market on a daily basis, advising them on buy and sell directions, as well as trading his own personal account.

Andrew, a regular key-note speaker at trading and wealth-creation events throughout the Asia Pacific region, is an authorized representative registered with the Australian Securities and Investment Commission (ASIC).

Currently Andrew is living his dream life on the Sunshine Coast with his loving wife and three children.

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