Morning market update 29 07 2021
ByScott Andrews
JUL 29, 2021
Key point from the Fed earlier today was “The Fed took a small step toward the eventual tapering of its asset purchases by altering the language in the statement released today, but officials appear to be in no rush. We still expect an announcement in August or September, with the taper itself probably not beginning until the start of 2022”. DXY pulled back below 92.30 with the FOMC statement with the US having GDP data out tonight at 20:30 GMT+8 buying opportunities are present with a move higher likely after this aggressive pull back in the lead up to the news release. GBPUSD pressing against a significant resistance level as mentioned in the currency call yesterday potential sell trade if bearish price action presents after 1.39110 is tested with a 30 pip stop loss and 60 pip take profit.
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