BlockBeats News, November 14th. Market analyst Jeremy Boulton from Reuters stated that forex traders may be considering whether the long-feared stock market pullback has finally begun. However, the deeper the stock market falls, the higher the likelihood of a rate cut in December. Currently, the market is pricing in a 52% probability of a 25 basis point rate cut by the Federal Reserve in December. The profit-taking in this round mainly stems from investors’ concerns that there will be no rate cut in December. But pay attention: this is a profit-taking action, not a forced liquidation of losing positions.
Traders often re-establish profitable positions after a correction, and this round of pullback is providing more attractive entry levels. If there is a rate cut stimulus earlier than expected, it will give traders a reason to act. (FXStreet)
