Incredible Day In The FX Markets - FOMC


The FOMC caused a massive USD sell off. That did not help my EURUSD short position.
Also noted:  NZDUSD’s double boost isn’t enough to break 0.7550

"It has been an incredible morning in the FX market following the FOMC’s decision to lower its forecasts for interest rates, GDP, unemployment and inflation. This resulted in a massive and widespread USD sell-off against every other major currency. At one point in the chaotic aftermath of the FOMC’s meeting EURUSD was over 400 pips higher than its pre-FOMC levels, with the pair briefly breaking above 1.1000. The dollar index is now set for its biggest daily drop since July 2013. In the hours following the FOMC meeting NZDUSD reached an important resistance zone around 0.7550, but the pair’s upward march was stop in early Asia trade by a widespread retracement towards the USD. However, stronger than expected growth figures out of New Zealand provided the pair with another opportunity to test this level, but it failed to break through once again" - LINK

Senegal plans to issue $500 million - $1 billion

DAKAR, March 18 (Reuters) - Senegal plans to issue between
$500 million and $1 billion in foreign debt this year, starting
from June, to cover its budgetary needs, an economic advisor to
President Macky Sall told Reuters.
Mamadou Fall Kane also said the West African countrys
government was concerned by the strength of the U.S. dollar and
was using currency swaps to hedge its risk on dollar-denominated
Senegal, which uses the CFA currency that is pegged to the
euro, was also looking to increase its presence in European
markets, he said.

(Reporting by Daniel Flynn; Editing by Robin Pomeroy)
((; +221 33 864 5076; Reuters

Oil extended losses to a seventh day

Oil extended losses to a seventh day, with crude futures down 2.2% at $44.20, ahead of stockpiles data and the Federal Reserve's monetary policy decision. U.S.. crude stocks are forecast to have surged for the tenth straight week to a new record high, fueling new supply concerns of a global oil glut. The Fed is also likely to cut the word "patient" from its policy statement, leaving the door wide open for a rate hike in June.