Intraday Market Thoughts

Archived IMT (2010.02.18)

by Ashraf Laidi
Feb 18, 2010 22:11

FED RAISES DISCOUNT RATE today to 0.75% from 0.5% effective Friday, saying the change is "not expected to lead to tighter financial conditions for households and businesses and do not signal any change in the outlook for the economy or for monetary policy". Unlike the discount rate, charged among banks. The discount rate is at which commercial banks are charged by the Fed's discount window. USD soars on the unscheduled decision. GBPUSD nears $1.5470, EURUSD on tap to $1.3460. Expect gold's downtrend to gradually pursue our 1020 target.


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