September Fed Rate Hike is in play again!

So 2 hours ago, the US key data like Nonfarm Payrolls has continue its strong positive data outlook since July, maintain the US strong economic data trend. This increase the odd for Fed Rate Hike in September.

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One key thing that worth mention is, chances of rate hike for this year has increase from single digit percentage to almost 90% chances.

The US dollar strength rally since the data release and I benefit from currency pairs like USD/JPY and USD/SGD which technical chart has shown triple bottom with forming triple connection point uptrend support (and it fall to low level on past few days and my counter trend strategy work beautifully). On top of that, EUR/USD has plunge drastically from its new high and is one of my favorite and best performing currency pair that help me earn close to 200 pips just only this week through shorting it.

There are much more exciting currency pair price action happen this week from my side but let’s just keep the brag and focus what is coming next.

US Fed Rate Hike. Yes, I have been supporting Fed Rate hike since June and I hope in this upcoming September the rate hike will be coming to play. Last month the FOMC council and Yellen has been hawkish on rate hike outlook, with current strong economic data, upcoming September meetup will definitely interesting to watch.

Singapore stock market has already in a downtrend and with the probability of rate hike increase, I believe the downward trend shall continue after a certain pull back to the higher point due to rally from the US market. Currently US market is rally but not sure on what extent it will undergo pullback and eliminate all the gain. This is interesting to watch to see whether the big players like the hedge funds are stacking their short position for the Rate hike play. Will S&p 500 able to break 2177 and rally to its next resistance at 2200? It shall be an interesting Friday.

Happy investing and trading Pals and stay safe! 🙂

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