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  • Fed cuts benchmark rate 50 bps

Added at 10:01am

  • Federal Reserve issues FOMC statement

    From federalreserve.gov

    The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. In light of these risks and in support of achieving its maximum employment and price stability goals, the Federal Open Market Committee decided today to lower the target range for the federal funds rate by 1/2 percentage point, to 1 to 1‑1/4 percent. The Committee is closely monitoring developments and their implications for the economic outlook and will use its tools and act as appropriate to support the economy. Voting for the monetary policy action were Jerome H. Powell, Chair; John C. ... (full story)

Added at 10:06am

  • Decisions Regarding Monetary Policy Implementation

    From federalreserve.gov

    The Federal Reserve has made the following decisions to implement the monetary policy stance announced by the Federal Open Market Committee in its statement on March 3, 2020: The Board of Governors of the Federal Reserve System voted unanimously to set the interest rate paid on required and excess reserve balances at 1.10 percent, effective March 4, 2020. As part of its policy decision, the Federal Open Market Committee voted to authorize and direct the Open Market Desk at the Federal Reserve Bank of New York, until instructed otherwise, to execute transactions in the System Open Market Account in accordance with the ... (full story)

  • #1
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  • Mar 3, 2020 10:02am Mar 3, 2020 10:02am
Booom ,, down
  • #2
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  • Mar 3, 2020 10:04am Mar 3, 2020 10:04am
rate cuttt
TuriBinda
  • #4
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  • Mar 3, 2020 10:04am Mar 3, 2020 10:04am
Thanks
Everyone can see the chart, but only a few can actually read it.
  • #5
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  • Mar 3, 2020 10:05am Mar 3, 2020 10:05am
why wasnt this on the news calendar?
  • #6
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  • Mar 3, 2020 10:05am Mar 3, 2020 10:05am
wow wow wow
  • #7
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  • Mar 3, 2020 10:05am Mar 3, 2020 10:05am
gold next month expect. 1800
  • #8
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  • Mar 3, 2020 10:06am Mar 3, 2020 10:06am
Member
  • #9
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  • Mar 3, 2020 10:06am Mar 3, 2020 10:06am
Sell USD !!
  • #10
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  • Mar 3, 2020 10:07am Mar 3, 2020 10:07am
  •  Trader#0090
  • | Status: Unregistered Trader
Quoting vladutz112
why wasnt this on the news calendar?
G7 meeting on corona virus
  • #11
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  • Mar 3, 2020 10:07am Mar 3, 2020 10:07am
Quoting vladutz112
why wasnt this on the news calendar?
I was wondering the same thing???
  • #12
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  • Mar 3, 2020 10:07am Mar 3, 2020 10:07am
tnq SL :/
  • #13
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  • Mar 3, 2020 10:07am Mar 3, 2020 10:07am
more export time
TuriBinda
  • #14
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  • Mar 3, 2020 10:07am Mar 3, 2020 10:07am
sell usd chf
  • #15
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  • Mar 3, 2020 10:07am Mar 3, 2020 10:07am
Sweet! I love the way gold pop
  • #16
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  • Mar 3, 2020 10:08am Mar 3, 2020 10:08am
thank you !
  • #17
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  • Mar 3, 2020 10:08am Mar 3, 2020 10:08am
Hehe this increased my account by 23.7%.
Woooooow I don’t need to trade the rest of the year now.
Thank you FED
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
  • #18
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  • Mar 3, 2020 10:10am Mar 3, 2020 10:10am
Quoting here2there
Looks like a deep recession is underway.
YES!!!
  • #19
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  • Mar 3, 2020 10:11am Mar 3, 2020 10:11am
leaked before press con.... i ilke that.
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  • #20
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  • Mar 3, 2020 10:11am Mar 3, 2020 10:11am
They effectively bailed out China. USA is CCP's best friend!
  • #21
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  • Mar 3, 2020 10:13am Mar 3, 2020 10:13am
Quoting vladutz112
why wasnt this on the news calendar?
It is. Check again... from 1.75 to 1.25
  • #22
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  • Mar 3, 2020 10:14am Mar 3, 2020 10:14am
  •  Trader#FE2E
  • | Status: Unregistered Trader
You guys sure are quick to jump to conclusions
  • #23
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  • Mar 3, 2020 10:15am Mar 3, 2020 10:15am
Speak about an emotional decision!
  • #24
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  • Mar 3, 2020 10:16am Mar 3, 2020 10:16am
next is UK ...
  • #25
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  • Mar 3, 2020 10:18am Mar 3, 2020 10:18am
  •  Trader#549A
  • | Status: Unregistered Trader
Seems like a knee-jerk reaction to me. Wait and see? Lots of volatility now
  • #26
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  • Mar 3, 2020 10:21am Mar 3, 2020 10:21am
was this in Calendar? wtf
Early to bed, early to rise, keeps you healthy, wealthy and wise.
  • #27
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  • Mar 3, 2020 10:22am Mar 3, 2020 10:22am
I am very suspicious about all of this.
Learn from your mistakes and march on.
  • #28
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  • Mar 3, 2020 10:23am Mar 3, 2020 10:23am
Trump bribed the Fed clerks !
Those cheap money won't help the economy !
Those money will "help" the rich !!
They can't be that stupid ...something's fishy
Member
  • #29
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  • Mar 3, 2020 10:24am Mar 3, 2020 10:24am
Trump has failed as President to allow this to happen. The US economy is going to suffer as a result of this stupid decision.
Learn from your mistakes and march on.
  • #30
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  • Mar 3, 2020 10:25am Mar 3, 2020 10:25am
Quoting Pumi
{quote} It is. Check again... from 1.75 to 1.25
it got added, was suppose to happen March 18th.
makes me wonder how do ppl trade without knowing these dates, lol
market is a device for transferring money from the impatient to the patient
  • #31
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  • Mar 3, 2020 10:26am Mar 3, 2020 10:26am
Stop those questions, no, it was not on calendar. It was added after the Fed release!
Member
  • #32
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  • Mar 3, 2020 10:27am Mar 3, 2020 10:27am
Quoting here2there
Trump has failed as President to allow this to happen. The US economy is going to suffer as a result of this stupid decision.
+1
Member
  • #33
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  • Mar 3, 2020 10:27am Mar 3, 2020 10:27am
Quoting ohakaba
{quote} I was wondering the same thing???

It was not in calendar cause it was emergency meeting rate cut, last time this happneed in 2008.... Scheduled Fed meeting is on 18th march i think
Browsing forexfactory since 2006
  • #34
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  • Mar 3, 2020 10:28am Mar 3, 2020 10:28am
Lets wait to see what fed has got to say during press conference
  • #35
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  • Mar 3, 2020 10:28am Mar 3, 2020 10:28am
Quoting ohakaba
{quote} I was wondering the same thing???
This was listed as G7 meeting, tentative. So it wasn't planned at a set time. There have been a lot of news articles the past few days leading up to this, which talked about the possibility, and what the G7 meetings would be about. However, I don't think the G7 meetings were added to the economic calendar until a day or two ago, since they were emergency meetings just planned recently. That's why its important to follow the news feed in addition to the economic calendar.
  • #36
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  • Mar 3, 2020 10:29am Mar 3, 2020 10:29am
12:00amUSD
FOMC Press Conference

is there a press conf in half hour?
  • #37
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  • Mar 3, 2020 10:29am Mar 3, 2020 10:29am
They did not say anything about the emergency...
  • #38
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  • Mar 3, 2020 10:30am Mar 3, 2020 10:30am
Quoting Learning2
{quote} This was listed as G7 meeting, tentative. So it wasn't planned at a set time. There have been a lot of news articles the past few days leading up to this, which talked about the possibility, and what the G7 meetings would be about. However, I don't think the G7 meetings were added to the economic calendar until a day or two ago, since they were emergency meetings just planned recently. That's why its important to follow the news feed in addition to the economic calendar.

G7 meeting is different event .... but may be one of the reasons for emergency cut
Browsing forexfactory since 2006
  • #39
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  • Mar 3, 2020 10:30am Mar 3, 2020 10:30am
Quoting rtx
{quote} It was not in calendar cause it was emergency meeting rate cut, last time this happneed in 2008.... Scheduled Fed meeting is on 18th march i think

maybe...there were really 30k death in china...
  • #40
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  • Mar 3, 2020 10:31am Mar 3, 2020 10:31am
Quoting giggsy
12:00am USD FOMC Press Conference is there a press conf in half hour?

looks like its planned ... but was not scheduled
Browsing forexfactory since 2006
  • #41
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  • Mar 3, 2020 10:32am Mar 3, 2020 10:32am
Quoting bs4
{quote} it got added, was suppose to happen March 18th. makes me wonder how do ppl trade without knowing these dates, lol
It was an emergency meeting. The news started to talk about this possibility in the past few days. That's why its important to follow the news feeds in addition to the economic calendar.
  • #42
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  • Mar 3, 2020 10:32am Mar 3, 2020 10:32am
Trump has a lot of power! He will be the next President of the USA !!!!!!!!!
  • #43
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  • Mar 3, 2020 10:33am Mar 3, 2020 10:33am
Quoting giggsy
{quote} maybe...there were really 30k death in china...
Research it, Chinese natives say bodies are dropping like flies. They are not able to keep up with cremation.
  • #44
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  • Mar 3, 2020 10:37am Mar 3, 2020 10:37am
Quoting rtx
{quote} looks like its planned ... but was not scheduled
yeap ok. def not scheduled but based on what these bankers say so far i expected nothing less.
  • #45
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  • Mar 3, 2020 10:39am Mar 3, 2020 10:39am
Not on the calendar before :/ wtf
  • #46
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  • Mar 3, 2020 10:39am Mar 3, 2020 10:39am
Quoting wealthyqueen
{quote} Research it, Chinese natives say bodies are dropping like flies. They are not able to keep up with cremation.
i know. the actions so far acted by the govt esp from SG to australia and yes, a self contained wuhan meant this is actually quite serious.

then qn is what can a rate cut do...
  • #47
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  • Mar 3, 2020 10:40am Mar 3, 2020 10:40am
Can someone explain to me why this made gold go up so much? Don't flame me, I just want to understand how things work
  • #48
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  • Mar 3, 2020 10:43am Mar 3, 2020 10:43am
Personally, either they hide something about the virus or this is the most ridiculous rate cut in a long while
  • #49
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  • Mar 3, 2020 10:44am Mar 3, 2020 10:44am
Quoting penuelophir
They did not say anything about the emergency...
hopefully we'll see a wider motivation with the press conference

My guess is that the cut will be conjugated with other tricks set on G7 meeting

If Tweety Trump will show up later to cut the tariffs we will have the blessed hero who saved the world from depression in 2020 ...history will tell about this day after 2000 years, legends about..The Magnific Blonde Thunder who saved the world
Member
  • #50
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  • Mar 3, 2020 10:47am Mar 3, 2020 10:47am
i hope all of you got the profit from this event..
  • #51
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  • Mar 3, 2020 10:48am Mar 3, 2020 10:48am
One thing's for sure, nobody buys that coronavirus bullshit
Member
  • #52
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  • Mar 3, 2020 10:48am Mar 3, 2020 10:48am
rba, FED, BOC (tomorrow), left with super power BOJ...thats the one don't mind giving all in...rem 2011...
  • #53
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  • Mar 3, 2020 10:55am Mar 3, 2020 10:55am
Quoting bs4
{quote} it got added, was suppose to happen March 18th. makes me wonder how do ppl trade without knowing these dates, lol
Cool. I haven't traded this week.
  • #54
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  • Mar 3, 2020 10:55am Mar 3, 2020 10:55am
Quoting JuanTelo
Can someone explain to me why this made gold go up so much? Don't flame me, I just want to understand how things work
People are dumping dollar...they put the money into other currencies/commodities.
Everyone can see the chart, but only a few can actually read it.
  • #55
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  • Mar 3, 2020 10:56am Mar 3, 2020 10:56am
Quoting giggsy
rba, FED, BOC (tomorrow), left with super power BOJ...thats the one don't mind giving all in...rem 2011...
BOC won't do a thing and CAD will get stronger.
Everyone can see the chart, but only a few can actually read it.
  • #56
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  • Mar 3, 2020 10:56am Mar 3, 2020 10:56am
Quoting renkotop
{quote} YES!!!
You just trade for 80 Pips during a year??
  • #57
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  • Mar 3, 2020 10:57am Mar 3, 2020 10:57am
Quoting OnlineAddict
{quote} People are dumping dollar...they put the money into other currencies/commodities.
But why? Why does cuting rates make people want to do that?
  • #58
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  • Mar 3, 2020 11:03am Mar 3, 2020 11:03am
<p>
Quoting TudorIoan
{quote} hopefully we'll see a wider motivation with the press conference My guess is that the cut will be conjugated with other tricks set on G7 meeting If Tweety Trump will show up later to cut the tariffs we will have the blessed hero who saved the world from depression in 2020 ...history will tell about this day after 2000 years, legends about..The Magnific Blonde Thunder who saved the world <img alt="" data-emoji="laughing" height="18" src="https://cdn-resources.faireconomy.media/images/emojis/64/1f606.png?v=1.0.0.3" width="18" />
</p> <p></p> <p></p> <p></p>
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  • #59
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  • Mar 3, 2020 11:07am Mar 3, 2020 11:07am
Quoting TudorIoan
{quote} ...history will tell about this day after 2000 years, legends about..The Magnific Blonde Thunder who saved the world
LOOOLEST!
Carpe Diem
  • #60
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  • Mar 3, 2020 11:09am Mar 3, 2020 11:09am
such sudden news and the majors didnt even move much....

forex is gone guys... time to find another market
  • #61
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  • Mar 3, 2020 11:13am Mar 3, 2020 11:13am
Could you please cut rates to -5%. I think it is a reasonable rate you clowns. Rest of the world will donate your useless lives.
  • #62
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  • Edited 11:28am Mar 3, 2020 11:14am | Edited 11:28am
Quoting OnlineAddict
{quote} BOC won't do a thing and CAD will get stronger.
CAD will go down tomorrow , Rate cut is definitive banks starting lowering the rates on morgagaes . usd will get stronger ,plus still the best economy despite the virus

in fact the market start to see it as negative , fuckin 50 point is bad . means the markets to have more concerns .
CAD and oil and stocks will drop
  • #63
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  • Mar 3, 2020 11:25am Mar 3, 2020 11:25am
To see the “real” effects of news and data, use the weekly charts ...
Market is not random but unpredictable
  • #64
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  • Mar 3, 2020 11:31am Mar 3, 2020 11:31am
Quoting CrocodileRex
such sudden news and the majors didnt even move much.... forex is gone guys... time to find another market
'Supermarket' you mean?
  • #65
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  • Mar 3, 2020 11:35am Mar 3, 2020 11:35am
Quoting Ghass1234
{quote} CAD will go down tomorrow , Rate cut is definitive banks starting lowering the rates on morgagaes . usd will get stronger ,plus still the best economy despite the virus in fact the market start to see it as negative , fuckin 50 point is bad . means the markets to have more concerns . CAD and oil and stocks will drop
Well, open those trades...lets see.
Everyone can see the chart, but only a few can actually read it.
  • #66
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  • Mar 3, 2020 11:37am Mar 3, 2020 11:37am
Quoting OnlineAddict
{quote} BOC won't do a thing and CAD will get stronger.

not sure abt CAD. Anyway, do u tink BOJ will act?
  • #67
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  • Mar 3, 2020 11:38am Mar 3, 2020 11:38am
Quoting OnlineAddict
{quote} Well, open those trades...lets see.
i will not ,in fact to wait until tomorrow to see the effect .
  • #68
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  • Mar 3, 2020 11:50am Mar 3, 2020 11:50am
Confucius: the man who broke the mountain was the same man who started ...
  • #69
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  • Mar 3, 2020 11:59am Mar 3, 2020 11:59am
Basically this was a clear house move.
The solution is (x).
  • #70
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  • Mar 3, 2020 12:48pm Mar 3, 2020 12:48pm
Quoting giggsy
{quote} not sure abt CAD. Anyway, do u tink BOJ will act?
BOJ already did act...did you miss the articles about the money they are pumping into the economy?
Everyone can see the chart, but only a few can actually read it.
  • #71
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  • Mar 3, 2020 1:45pm Mar 3, 2020 1:45pm
Ni news paling Jilake dalam sejarah..
  • #72
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  • Mar 3, 2020 2:15pm Mar 3, 2020 2:15pm
Can someone please tell me how this decision is good for US citizens (in general)?
Learn from your mistakes and march on.
  • #73
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  • Mar 3, 2020 2:21pm Mar 3, 2020 2:21pm
now ready again for up
  • #74
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  • Mar 3, 2020 2:47pm Mar 3, 2020 2:47pm
Quoting here2there
Can someone please tell me how this decision is good for US citizens (in general)?
It's quite simple.... the non-federal Federal Bank reduces rates in order to "spur growth" - in the form of more debt, thereby keeping the masses down, allowing them to pocket more cash, give future forfeiture rights to the government in the form of repossession, and....oh wait, you were asking about the citizens. Sorry, I haven't been able to figure that out.

Although, I guess, traders can benefit from expected price changes,
School of hard knocks
dmj120 Return This Year: na
  • #75
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  • Mar 3, 2020 3:29pm Mar 3, 2020 3:29pm
Yikes! They couldn't have waited another two weeks.
  • #76
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  • Mar 3, 2020 4:31pm Mar 3, 2020 4:31pm
Quoting OnlineAddict
{quote} People are dumping dollar...they put the money into other currencies/commodities.
Hii Bubula

Tell us when 1.45
Pound
Beware of robber banks (RB), bad advisors.
  • #77
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  • Mar 3, 2020 4:36pm Mar 3, 2020 4:36pm
Sunday 😳😳🤔....

Quoting Not-KPMG
Relax

Ohhhh UJ just opened and is 60 pips down :

Now let's see them stocks 👎👎 😢

Then rate cut by Wednesday.... That's forex guys :

Green pips. Trade small {image}
Ohhh I was right.👏
Beware of robber banks (RB), bad advisors.
  • #78
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  • Mar 3, 2020 4:56pm Mar 3, 2020 4:56pm
Quoting JuanTelo
Can someone explain to me why this made gold go up so much? Don't flame me, I just want to understand how things work
Easy

Cut rate is like printing money it devalued dollar.

Gold is measured in dollars.

Easy right
Beware of robber banks (RB), bad advisors.
  • #79
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  • Mar 3, 2020 5:14pm Mar 3, 2020 5:14pm
The race to zero has begun. The US could be one of the few with rate above zero. So what will that do to the dollar?

This is all still the dogma from Allan Greenspan days whereby we can prevent recessions by stimulus. Here we are again. Stock market was at huge valuations. China had to do what they did and Asia is on a semi lockdown with many countries even closing schools. It is not a hoax.

Personally I would have thought a debt bubble was going to get us next. Got side swiped by the pandemic. So I guess the debt bubble is still to come. Waiting at an economy near you.
  • #80
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  • Mar 3, 2020 6:37pm Mar 3, 2020 6:37pm
True...
Bubble...

Bottom race .. Poor get poorer 😳😭

My solution is simple : buy solid money.
Bitcoin.

Good friend has a chart. Me too...

Our thread
https://www.cryptocraft.com/showthre...8#post12776978

Not advice
My explanation there too.
Beware of robber banks (RB), bad advisors.
  • #81
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  • Mar 4, 2020 2:26am Mar 4, 2020 2:26am
Quoting Not-KPMG
True... Bubble... Bottom race .. Poor get poorer My solution is simple : buy solid money. Bitcoin. Good friend has a chart. Me too... Our thread https://www.cryptocraft.com/showthre...8#post12776978 Not advice My explanation there too.
You clown use more emojis than a teenage girl and you beg constantly for audience on your thread about bitcoin ?
Your thread doesn't explain anything. Just rabid stupid rants against the current system.
It's just you, whiny frustrated anarchist, against the world
Member
  • #82
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  • Edited 3:55am Mar 4, 2020 2:44am | Edited 3:55am
Cutting seem insane !
If global recession, the investors don't invest. They protect themselves of global risk.
Investors take the cheap money but they don't invest, they hoard !
They only transform the new shock offer in speculative or conservative assets.
So they buy gold and risky assets.
So we already have stagnation and a stock bubble !
See the Wall Street, had a little boost after shock, but cut the gains soon later
How is that new money going to spur the real economy ?
I mean what's the strategy here ? ...supply shock, alright ...is it gonna work ?!?
New cheap money for who ? For the profit addicted rich investors, banks?...
Ok, greed is good, but they hoard and gamble, they don't kick start business !
The new cheap money are not going to help the economy !
........
Despite of all this there is still room for low rates.
Because the real US economy is fine, ...but inflation lagging.
So the moment inflation will signal red we'll see no cutting. ...maybe even the hike
Member
  • #83
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  • Edited 8:05am Mar 4, 2020 7:46am | Edited 8:05am
In the US as in UK and EU the majority of folk work for SMEs. 99% of US firms have fewer than 50 employees. c40% of US GDP comes from SMEs. If tough containment regulations become required to stop CV19 spreading in the US, or a month or more? (a situation that could arise within weeks, based on the Chinese and Italian contagion models) what will happen to these people and businesses. What will happen to the real economy. What will happen to the consumer segment that drives 70% of the US economy? WTF will Powells step do for them?
And yet equity markets continue to rally after a small correction last week.
Is there disconnect between the markets and the real economy
What am I missing?
Warning: A Dangerous Subversive: 1% of comments CoCed
  • #84
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  • Mar 4, 2020 8:28am Mar 4, 2020 8:28am
Quoting RossEdwards
What am I missing?
Nothing. The central banks prioritized Wall Street over Main Street yet again.

The virus crisis also exposed the fragility of the global economy arising from the dependency on PRC for the bulk of global manufacturing. A golden opportunity of decoupling of PRC and the rest of the global economy appears to be largely squandered.
  • #85
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  • Mar 4, 2020 8:39am Mar 4, 2020 8:39am
The last cut of a 1/4 was unwarranted. This at least doubly so. A 50 point cut because of a temporary fake hyped up market scare? Will this be reversed in a month or two when it is over? Big business has been pushing for zero interest free money for a year or so now. That is foolishness as no one will lend money that way except between friends. Pushes money into the stocks but removes normal cushions and gives the FED nowhere to go.
  • #86
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  • Mar 4, 2020 10:28am Mar 4, 2020 10:28am
Absolutely brainless move. If there wasn't genuine panic before this definitely helped to create it.
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