Daily Alert – Thursday 25th May 2023: Fed undecided on future hikes

Mark NugentDaily Alert, May 2023

Daily Alert – Thursday 25th May 2023: Fed undecided on future hikes

Good morning.

Yesterday we saw the minutes from the last Fed meeting. It was a mixed bag, with concerns raised over inflation, obviously, the stability of the banking sector and the debt-ceiling drama. There are clearly differing views within the voting group on the need to pause rate hiking or continue to tighten monetary policy. The fact remains however that the Fed’s mandate is to get inflation back to target.

I placed a short trade on EURUSD as the price broke down through support on the daily chart. So far, it’s doing quite nicely.

Looking forward today, we have US GDP for the first quarter of the year.

I’ll be back tomorrow with a brief video of the winning USDJPY trade I placed last week.

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