FOMC Statement | Forex Factory

FOMC Statement | Forex Factory

FOMC Statement

From federalreserve.gov

Information received since the Federal Open Market Committee met in September suggests that economic activity has continued to expand at a moderate pace in recent months. Growth in employment has been slow, and the unemployment rate remains elevated. Household spending has advanced a bit more quickly, but growth in business fixed investment has slowed. The housing sector has shown some further signs of improvement, albeit from a depressed level. Inflation recently picked up somewhat, reflecting higher energy prices. Longer-term inflation expectations have remained stable. Consistent with its statutory mandate, the ... (full story)

Comments / Top
Subscribe

Oct 24, 2012 3:35pm

To support continued progress toward maximum employment and price stability, the Committee expects that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the economic recovery strengthens. In particular, the Committee also decided today to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that exceptionally low levels for the federal funds rate are likely to be warranted at least through mid-2015.

Above paragraph of FOMC Statement Shows that Gold is not going south~~~!!!!

Oct 24, 2012 1:48pm

Quoting donny 1986

Disliked

area koreksi dan buying 168x itu target selanjutnya fan itu area buy back untuk emas . moment india festifal kemungkinan fisik buying di area tersebut,qe3 masih berlanjut saya pikit bgto

Ignored

kalo seandainya saya buy skrg, TP di 1715 kali ya? yah buat ambil dikit2... tapi kedepannya emas memang bakal turun ya? buy skrg trus besok rebound?

Oct 24, 2012 2:14pm

Quoting longorshort

Disliked

buy at 1702, sell at 1704. sell at 1704, buy a 1702. repeat this two more times.

Ignored

well, I wish I can do that... but my spread is little high... and sometimes the system "off quotes" or something like that T_T , so i buy at 1702 and TP 1709.20

Oct 24, 2012 2:23pm

Quoting Ijaz Anwar

Disliked

gold will hit 1715 till tomorrow evening so lets not confuse trade 1702 is buying point so buy gold with out any hesitation and tp should be 1710,1712

Ignored

I keep modify my TP 1712>>1709>>1710 , still worry with the market because gold is still down trend lol

Oct 24, 2012 1:28pm

There's no surprise in the FOMC statement. It is already expected by the market.
So, my conclusion is this news will not give much effect. It's now technical only to move the market.
Since 1690-1700 is strong support area (fibo 38.2%, SMA 50, psychology support) I think gold is more likely to rebound a little bit north. Maybe up to 1715-1730 area.

Oct 24, 2012 1:56pm

"To support continued progress toward maximum employment and price stability, the Committee expects that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the economic recovery strengthens".

First question: Guess when that US recovery will begin?
Second: How long after that recovery will the fed feel everything be all right and they can begin to stop QE3?

Just trying to make a wild guess. If the fed said they will maintain low rate until mid 2015, I think in their scenario they already put a "safe" time zone for a year. Means, they predict US economy will be OK around mid 2014.
Based on that assumption, I guess QE3 will end around the end 2013 or maybe mid 2014.
IF we take end of 2013, that means there will be about 16 months of QE3 (Sep 12 - Des 13) = 16 x $ 40 B = $ 640 B of QE3. Not to mention the operation twist overlapping fund.
Now, anyone can conclude for them selves what will happen with gold price at the end of QE3.

Clue: search the data of how much QE1 and QE2, look for the first time it was launched and connect to gold price at each QE1 and QE2 period. Now predict what will happen to gold price with this QE3.
For anyone who say the crisis is almost over, read more recent news please...
I leave the conclusion to each of you.
Happy profitable trading

Oct 24, 2012 2:27pm

guys keep in mind there is no data before tomorrow evening so today gold was under selling pressure due to fed release nothing is happened in fed so tomorrow gold will take early rises so hold buy position for further

Oct 24, 2012 3:00pm

guys why you cannot understand that 1710,1690 is buying area for gold .was under selling pressure due to fed hopes nothing is happend by fed now gold will take its buying trend moreover usa elections drama is near to close so buy gold at the moment

Oct 25, 2012 3:53am

Quoting Furdean2

Disliked

i really dont understand how can someone open a trade only by asking here on the forum if he should buy or sell????????????????????????????????

Ignored

Because these guys are not traders they are gamblers lol!!!

Oct 24, 2012 1:34pm

Quoting Ijaz Anwar

Disliked

1710,1690 is buying area for gold so nothing is happened with the rates mean gold is going to buy

Ignored

you mean gold will go up? ... there seems to have been no big impact - at least not yet.

Oct 24, 2012 1:36pm

Quoting Ijaz Anwar

Disliked

please wait guys and save your capital at 12 gold will give you the direction of buying so be calm there

Ignored

this looks weird - with not much impact on gold. fomc normally would have meant almost instant impact.

Oct 24, 2012 1:45pm

Quoting donny 1986

Disliked

i think tommorow gold wil be moved, not today to day just flat

Ignored

maybe it'll go up, but it'll go inching. maybe we won't see the usual spikes, unless a big fish jumps into the pool and shakes up the market.

Oct 24, 2012 1:47pm

Quoting longorshort

Disliked

i can see gold building a zig-zig ramp-up.

Ignored

... no ... wait ...

just let's wait and watch. don't mind jumping in late, but would rather be doubly sure about the trend overall.

Oct 24, 2012 1:56pm

Quoting Furdean2

Disliked

i really dont understand how can someone open a trade only by asking here on the forum if he should buy or sell????????????????????????????????

Ignored

to each one his own!

everyone has their own way of trading and making decisions!

Oct 24, 2012 3:10pm

Quoting Ijaz Anwar

Disliked

guys why you cannot understand that 1710,1690 is buying area for gold .was under selling pressure due to fed hopes nothing is happend by fed now gold will take its buying trend moreover usa elections drama is near to close so buy gold at the moment

Ignored

you could be right, but we don't have evidence enough to support your hypothesis.

i think most of us would agree that the long-term trend is upward. but the big question for all of us is about the right price to buy.

when we were in the 1750s, we'd all waited for 1720s saying that (the latter) is the right price to buy. and then we're waiting for 1690.

i won't be surprised if we then continue to wait for 1650s.

i would wait for a reversal to be established clearly.

look at 20 period SMA line on 24H and 4H charts. it still reveals a downward trend.

that's the reason for our caution.

Oct 24, 2012 1:29pm

Expect the news to negotiate ... And still admiring him charge of 10 or 20 Pip

Quoting mkj111

Disliked

there are no reasons behind the comments of gamblers the real reasons are their open positions --- long/short positions, they always want to move markets in their own favour. lol what the fools are there , wanting profits from anything whether the reputation of their own country on stake.

Ignored

Oct 24, 2012 1:38pm

u r keep saying this since 1750 buy buy buy,now again u r saying to buy gold .hope ur account is safe good luck.keep buying

Quoting Ijaz Anwar

Disliked

buy gold because 1690 is support area and rates are the same so gold can be up now

Ignored

Oct 24, 2012 1:39pm

Quoting longorshort

Disliked

this looks weird - with not much impact on gold. fomc normally would have meant almost instant impact.

Ignored

Yes it's true longorshort,b4 was suddenly up until 1706.40 then no more than 10 second down to 1700

Oct 24, 2012 1:50pm

just watch and enjoy..do nothing ....you cant catch all moves/pip....few are artificial to caught lame ppl(imho)go with da trend /chart/system/mm/rr .....discipline......

Oct 24, 2012 1:23pm

gold welcoming 1691

Oct 24, 2012 1:50pm

Quoting Minotaur

Disliked

lol ok thanx, i thought it had something to do with breasts :-)

Ignored

haha, breast? if we have gold , we can have many breast >.<

Oct 24, 2012 1:57pm

I buy gold, 1702.50 , TP : 1712.00

Oct 24, 2012 1:59pm

Quoting 25cent

Disliked

i think gold will up to 1710-1718 from now till tomorrow and come back to dow trend, so do silver, good luck all trader )

Ignored

agree , down to 168x

Oct 24, 2012 2:02pm

Quoting 25cent

Disliked

please place stop loss at 1695 if you hold long gold now

Ignored

I already lock the gold with the same amount buy and sell. but I buy with volume/lot 0.02 just now, TP 1712.00

Oct 24, 2012 2:05pm

haha, i buy just now. and I modify TP from 1712.00 to 1709.20 >.<

Oct 24, 2012 1:58pm

i think gold will up to 1710-1718 from now till tomorrow and come back to dow trend, so do silver, good luck all trader

)

Oct 24, 2012 1:59pm

please place stop loss at 1695 if you hold long gold now

Oct 24, 2012 1:21pm

short euro tp 100 pip / 1 day

Oct 24, 2012 1:47pm

Quoting longorshort

Disliked

maybe it'll go up, but it'll go inching. maybe we won't see the usual spikes, unless a big fish jumps into the pool and shakes up the market.

Ignored

i thought you are a big fish!!!

Oct 24, 2012 1:57pm

Quoting longorshort

Disliked

even if all of FF members were to make open the same trade at the same time, we can't move the price!

Ignored

if even all small fries cannot make a big fish, what good are all these small fries.

Aren't they only a meal for some big fish!!!

Big fish eats small fry!!!

Oct 24, 2012 2:18pm

Quoting longorshort

Disliked

it's one hour after the fomc news, but still no impact on gold.

Ignored

My 2 amateur cents: it has stopped falling and now consolidating above 1700 and if it stays and closes somewhere above 1700, there are good chances that it may go up tomorrow.

Oct 24, 2012 1:27pm

continue... buy Gold

Oct 24, 2012 1:21pm

buy gold please

Oct 24, 2012 1:22pm

buy gold because 1690 is support area and rates are the same so gold can be up now

Oct 24, 2012 1:24pm

sure wait for some time then there will be a strong buy of gold

Oct 24, 2012 1:26pm

nothing will happen but gold will be up from the same

Oct 24, 2012 1:29pm

gold will up

Oct 24, 2012 1:30pm

but guys b patience for some time let the market to make its way

Oct 24, 2012 1:32pm

1710,1690 is buying area for gold so nothing is happened with the rates mean gold is going to buy

Oct 24, 2012 1:35pm

please wait guys and save your capital at 12 gold will give you the direction of buying so be calm there

Oct 24, 2012 1:41pm

wait for some time then guys you can go with buy next target can be 1715.1725

Oct 24, 2012 1:50pm

fed side line means usd bullish but 1690 is strong supportive for gold so i am not looking gold can down any more

Oct 24, 2012 2:19pm

gold will hit 1715 till tomorrow evening so lets not confuse trade 1702 is buying point so buy gold with out any hesitation and tp should be 1710,1712

Oct 24, 2012 2:20pm

there is impact of fed on gold it has raised rather fall down so it will up

Oct 24, 2012 2:24pm

buy cads/usd too as cad has down a lot buy at 1.0035 tp should be 1.0075

Oct 24, 2012 2:51pm

well done gold can bullish

Oct 24, 2012 3:17pm

some how i can support you but not all let the friday to come trend will be decided

Oct 24, 2012 7:54pm

any idea for USD/Yen??

long or short??

Oct 24, 2012 11:30pm

my last giving target is 1710,1712 almost complete wait for today release

Oct 24, 2012 1:24pm

there are no reasons behind the comments of gamblers the real reasons are their open positions --- long/short positions, they always want to move markets in their own favour. lol what the fools are there , wanting profits from anything whether the reputation of their own country on stake.

Oct 24, 2012 1:26pm

[quote=Arav007;6129803]Whatever Sell or Buy, the reason behind please?[/quotethere are no reasons behind the comments of gamblers the real reasons are their open positions --- long/short positions, they always want to move markets in their own favour. lol what the fools are there , wanting profits from anything whether the reputation of their own country on stake.]

Oct 24, 2012 1:17pm

buy

Oct 24, 2012 1:18pm

euro gold

Oct 24, 2012 1:23pm

sell @ 1.3020

Oct 25, 2012 4:48am

He'll deposit another cool one and if BOJ prints again he'll do it again.

In the end it can't be else than taking those deposits 3 to 5 times...

Oct 24, 2012 1:33pm

gold down?

Oct 24, 2012 1:35pm

Quoting UniqueIdea

Disliked

sure 100%

Ignored

gold swinging up and down like a yoyo!

Oct 24, 2012 1:45pm

i can see gold building a zig-zig ramp-up.

Oct 24, 2012 1:46pm

Quoting naqvislm

Disliked

if it keeps falling, it may go somewhere into negative like -5, -10

Ignored

Oct 24, 2012 1:51pm

Quoting naqvislm

Disliked

i thought you are a big fish!!!

Ignored

i'm just a small fry!

big fish = some cartel of investors or banks!

Oct 24, 2012 1:54pm

Quoting naqvislm

Disliked

Can 2 small fries make a big fish!!!

Ignored

even if all of FF members were to open the same trade at the same time, we can't move the price!

Oct 24, 2012 2:02pm

Quoting Guest

Disliked

Right now its great to do scalping with gold

Ignored

i'd rather wait for the trend to establish and then go for a long ride.

Oct 24, 2012 2:04pm

Quoting donny 1986

Disliked

oil drop so gold cant move up today.

Ignored

normally when oil goes down ... gold goes down too.

actually fall of oil would precede fall of gold.

Oct 24, 2012 2:05pm

gold = 1704 +/- 2.

Oct 24, 2012 2:10pm

buy at 1702, sell at 1704. sell at 1704, buy at 1702. repeat this two more times.

Oct 24, 2012 2:16pm

it's one hour after the fomc news, but still no impact on gold.

Oct 24, 2012 2:53pm

Quoting fafaxxx

Disliked

bla bla bla all off you so much talk

Ignored

need help? ... check out http://www.ebay.com/itm/10-pair-Ohropax-German-ear-plugs-silence-since-1907-/261096603527

Oct 24, 2012 1:43pm

i think gold will keep falling till the election and after couple of months

Quoting Black Caviar

Disliked

I don't think so the Gold will up untill the end of QE

Ignored

Oct 24, 2012 2:44pm

http://www.kitco.com/reports/KitcoNews20121024AS_pm.html

Oct 24, 2012 1:23pm

I tell you what fellows? Sell GOLD will get through 1695.80 then 1694.30 after that 1689

Oct 24, 2012 1:26pm

Gold will up for sure

Oct 24, 2012 1:27pm

eat all the SL. hu hu

Oct 24, 2012 1:30pm

I don't think so the Gold will up untill the end of QE

Oct 24, 2012 1:32pm

Sell GOLD will get through 1695.80

Oct 24, 2012 1:54pm

i really dont understand how can someone open a trade only by asking here on the forum if he should buy or sell????????????????????????????????

Oct 24, 2012 4:40pm

Quoting Loadedgun

Disliked

Hey JHK7 where are you? Looks like our serial trade caller has gone submarine - could be he has become totally wata looed.

Ignored

Yo, around here. Just didn't bother trading later part of today as I shorted all the way down to .2924 (one of my support line at .2933) this morning n left the fart to drag-queen n bendy-ben.

I mentioned last night that I wasn't expecting much from FOMC coz it's too close to election, warn some traders and still it went unheard n look at some crazy traders yacking all the way.

The miracle of drag-queen is faded! N I can't see where that yellow submarine is - at least its good so I can fking trade peacefully rather than having traders who followed that Jaygee yellow submarine writing to me for help again.......

Oct 24, 2012 1:19pm

crude oil ?????

Oct 24, 2012 1:33pm

Quoting kamransaeed

Disliked

Guys market trap.Be Careful

Ignored

sure 100%

Oct 24, 2012 1:21pm

Whatever Sell or Buy, the reason behind please?

Oct 24, 2012 1:18pm

what gold?

Oct 24, 2012 1:41pm

the up-down-down-up movement is making me sick. dont understand what to do, go short or go long. already long since long.

Oct 24, 2012 1:45pm

Quoting safdarhashmi

Disliked

i think gold will keep falling till the election and after couple of months

Ignored

if it keeps falling, it may go somewhere into negative like -5, -10

Oct 24, 2012 1:53pm

Quoting longorshort

Disliked

i'm just a small fry!

big fish = some cartel of investors or banks!

Ignored

Can 2 small fries make a big fish!!!

Oct 24, 2012 2:14pm

How do u see gold behaving tomorrow??

Oct 24, 2012 1:28pm

Guys market trap.Be Careful

Oct 24, 2012 1:33pm

Wait is better then loss.so plz hold your positions

Oct 24, 2012 1:38pm

save your ammunition for better target

Oct 24, 2012 1:31pm

Quoting priyarahi

Disliked

silver will trade from 31.75 to 31.60

Ignored

priya how long you are following silver?

Oct 24, 2012 2:00pm

It depends on the calibre of 2 small fries.......... lol.......

Quoting naqvislm

Disliked

Can 2 small fries make a big fish!!!

Ignored

Oct 24, 2012 1:26pm

QE till the end?? not for USD but for Obama

Oct 24, 2012 1:29pm

gold is rising up now

Oct 24, 2012 1:36pm

so confused

Oct 24, 2012 2:23pm

ok , sell GBp now TP = 1 5940

Oct 24, 2012 1:18pm

anything risky

Oct 24, 2012 1:20pm

sell eurusd

Oct 24, 2012 1:20pm

wait n see

Oct 24, 2012 1:22pm

usd up...gold down

Oct 24, 2012 1:23pm

No Buy No Sell.Stay in a range.

Oct 24, 2012 1:24pm

the market will remain flat as there is no new policy implementation...

Oct 24, 2012 1:24pm

Staying on sideline is best now.

Oct 24, 2012 1:25pm

silver will trade from 31.75 to 31.60

Oct 24, 2012 1:27pm

uppppp gold

Oct 24, 2012 1:32pm

lets play golf.

Oct 24, 2012 1:36pm

Hey JHK7 where are you? Looks like our serial trade caller has gone submarine - could be he has become totally wata looed.

Oct 24, 2012 1:38pm

i think tommorow gold wil be moved, not today

to day just flat

Oct 24, 2012 1:46pm

Quoting mkj111

Disliked

priya how long you are following silver?

Ignored

let us check how long silver sustaining this rate range which i quoted...

Oct 24, 2012 1:48pm

Quoting anilamil

Disliked

suku bunga = rate interest , sorry i am not using english >.<

Ignored

lol ok thanx, i thought it had something to do with breasts :-)

Oct 24, 2012 1:52pm

Quoting anilamil

Disliked

haha, breast? if we have gold , we can have many breast >.<

Ignored

sure thing!

Trader#4A83

Oct 24, 2012 1:54pm

We all agree, except for that the troublesome Mr. Lacker, that you are never ever going to get any interest on your savings in any bank. So go out and buy some of our overvalued real estate with our subsized loans if you can qualify. That way the suckers that orignailly bought it and the bonds with which we financed their purchase won't suffer and can stay solvent. As far as jobs, well the fact the economy hasn't created any in more than a decade is a bit of an embarrrassment given our mandate, but as economists well all know what to call that. Its increased productivity. Beside, your free loans to us will make it all better someday. I just love this new transparency. It makes reading between the lines much easier.

Oct 24, 2012 2:02pm

oil drop so gold cant move up today.

Oct 24, 2012 2:06pm

now if gold have up it can't go more. All news good for usd. Wait 6/11 all bear. Have a good day

Oct 24, 2012 2:10pm

Quoting longorshort

Disliked

buy at 1702, sell at 1704. sell at 1704, buy a 1702. repeat this two more times.

Ignored

lol

Oct 24, 2012 2:24pm

bla bla bla all off you so much talk

Oct 24, 2012 2:56pm

Quoting Ijaz Anwar

Disliked

well done gold can bullish

Ignored

Dear Ijaz I am New What u suggest S/L for Gold

Trader#87C6

Oct 24, 2012 3:00pm

what? did bernankio/the fed think that he/they could shake the bears out the trees? I mean the stock market bears, the gold bears, all the bears. 'nother thing coming ben, I mean deflation. go back way back, and study the great depression. then you will realise that when a bear does fall out the tree, it will fall on top of your head, dude. go back, way back, and study the law of gravity. thank you.

Oct 24, 2012 10:54pm

what will happen today??

Oct 24, 2012 11:17pm

nothing happen....gold up

Oct 25, 2012 4:10am

Buy gold.. Tp 1725.68/ st 1712,83....euro disappointed, greenback confusing..asian buy gold..gold Option fav.

Oct 25, 2012 4:10am

Quoting Hang Kebun

Disliked

any idea for USD/Yen??

long or short??

Ignored

Quick question buddy, is that real money you are trading on? $500K in red at the moment only $394K left!!!

Trader#A34D

Oct 24, 2012 1:19pm

hawkish, can't decide...

Trader#B02C

Oct 24, 2012 1:21pm

USD strong, rally up.
Gold down

Trader#21EE

Oct 24, 2012 1:22pm

buy or sell gold?

Trader#8B1A

Oct 24, 2012 1:23pm

Buy or sell Eur/USD?

Trader#5D5C

Oct 24, 2012 1:23pm

sell risky assets no surprises.....sell gold too

Trader#DF80

Oct 24, 2012 1:24pm

Let the market decide

Trader#E6D2

Oct 24, 2012 1:24pm

for me crudo is short under 87 ( to 83.7 / 82.2 )

Trader#0F1A

Oct 24, 2012 1:25pm

Nothing new in this report.

Trader#7F79

Oct 24, 2012 1:26pm

When in trouble or in doubt, run in circles, scream and shout!

Trader#8798

Oct 24, 2012 1:28pm

buy gold as Federal will keep bond buying in action. buy gold and long till 15 nov

Trader#EC88

Oct 24, 2012 1:32pm

I speak technically Buy euro/USD I spot a bullish divergence on 1 H chart

Trader#849B

Oct 24, 2012 1:45pm

I think gold will move up bcz due to statement awaiting dollar move upper side, but nothing special inside the statement so be cool ...

Trader#9392

Oct 24, 2012 1:56pm

Right now its great to do scalping with gold

Trader#D2D7

Oct 24, 2012 2:19pm

Hold positions..spain bailout will help definately..

Trader#2597

Oct 24, 2012 2:33pm

I think Gold has power to go up before election......

Related Stories

There are no posts to display for these settings.

Story Stats

Oct 24, 2012 1:15pm
Posted by
Newsstand

High Impact Breaking

134

40.0K
Linked events:

US FOMC Statement

US Federal Funds Rate