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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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March 18, 2015
15:00 EDTFX Action: USD-CAD touched 1.2605 lows
FX Action: USD-CAD touched 1.2605 lows, falling sharply from 1.2740 ahead of the Fed. The CAD got a benefit from not just the broadly lower greenback, but also from the sharp commodity rally which kicked in. Gold prices rallied over $20/ounce to over $1,170, as crude prices shot up nearly $3/bbl toward $45, from session lows just over $42.00.
14:55 EDTEuro$ interest rate options: heavy put selling
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14:55 EDTFed Chair Yellen said real GDP growth has declined somewhat in Q1
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14:54 EDTYellen says headwinds that have long been holding economy back are receding
14:46 EDTYellen says Fed continues to expect above trend growth
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14:40 EDTWeek of 3/27 EIA Petroleum Status Report to be released at 10:30
14:40 EDTFOMC Forecast revisions
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14:39 EDTYellen says interest rate hike could be warranted at any meeting after April
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14:37 EDTYellen says many FOMC members lowered net exports outlook
14:33 EDTYellen indicates Fed hasn't decided on timing of interest rate hike
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14:25 EDTStocks rally after Fed drops 'patience' but reassures April rate hike unlikely
The Federal Reserve's Federal Open Market Committee, or FOMC, dropped its longstanding assertion that it would be "patient" in deciding when to raise rates. Instead, the central bank said it would determine when to raise rates based on progress towards its two objectives: maximum employment and 2% inflation. "This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments," the committee said. The FOMC added that it is not likely to increase interest rates at its next meeting in April, and stated that when it does decide to raise rates, it will "take a balanced approach" that is consistent with its two goals. Moreover, the committee reiterated that, even after its goals are reached, it may elect to keep rates below normal levels for some time. On the economy, the FOMC stated that economic growth appears to have moderated in recent months, while inflation has declined further below its target, largely because of energy prices. The FOMC's members unanimously backed today's statement. Stocks have rallied off their lows after the Fed's release and ahead of Janet Yellen's press conference. In afternoon trading, the Dow is up 132 points, the Nasdaq is up 28 points and the S&P is up 16 points.
14:25 EDTFX Action: A lot of dollar chop
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14:19 EDTFed alters 2016 inflation outlook to 1.7%-1.9% from 1.7%-2%
14:18 EDTFed lowers 2016 unemployment rate outlook to 4.9%-5.1% from 5%-5.2%
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14:16 EDTFed lowers 2016 GDP outlook to 2.3%-2.7% from 2.5%-3%
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14:15 EDTFed lowers 2015 inflation outlook to 0.6%-0.8% from 1%-1.6%
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14:15 EDTFOMC dropped "patient" and said a hike in April remains unlikely
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14:15 EDTFX Action: The dollar slipped
FX Action: The dollar slipped in the aftermath of the FOMC announcement and statement, taking EUR-USD to 1.0735 from 1.0640, and USD-JPY from 121.10 to 120.54 lows. Shorter yields fell back on the more dovish Fed take, while Wall Street turned moderate losses into moderate gains.
14:15 EDTTreasury Action: yields reversed lower
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14:14 EDTFed lowers 2015 unemployment outlook to 5%-5.2% from 5.2%-5.3%
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