FOMC minutes support US30
The US30 is up in pre-cash open trade after the Fed's minutes confirmed 50bps hikes for June and July. I.e. there has been no increased hawkishness than previously communicated.
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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The US30 is up in pre-cash open trade after the Fed's minutes confirmed 50bps hikes for June and July. I.e. there has been no increased hawkishness than previously communicated.
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US30 hourly chart is at key overhead resistance.
Dollar retracement normalises weekly overbought condition.
President Lagarde post blogpost on ECB website on path to normalisation. EURUSD catches a bid in response.
US30 looks to be charting the next lower peak in its H4 chart.
The US30's momentum is showing bearish pressure. If it maintains current readings, prices are likely to decline further.
Large retailers' margin squeeze due to supply shocks. Ominous inflation spiral signs need to be controlled
The US30 bounce since last week Thursday has run into overhead resistance.
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