ok here is my take on the FOMC later today.
Senario 1:
Fed cuts interest rate by 0.25 point as everyone expects then the things will continue as like today. 0.25 is the consensus.
Scenario 2:
Fed cuts interest rate by 0.50 point then the dollar will gets hammered today and then again on friday with NFP.
Scenario 3:
If Fed decides not to cut the interest rate then dollar might strengthen a bit only to be hammered again on friday with the release of Non-Farm Rolls
There will be lots of volatility around news time. So hang on to your seats and enjoy the ride while the dollar get hammered. There are NO fundamentals to suggest a dollar revival. Maybe only a period of profit taking as most indicators show overbought levels on eur/usd
Senario 1:
Fed cuts interest rate by 0.25 point as everyone expects then the things will continue as like today. 0.25 is the consensus.
Scenario 2:
Fed cuts interest rate by 0.50 point then the dollar will gets hammered today and then again on friday with NFP.
Scenario 3:
If Fed decides not to cut the interest rate then dollar might strengthen a bit only to be hammered again on friday with the release of Non-Farm Rolls
There will be lots of volatility around news time. So hang on to your seats and enjoy the ride while the dollar get hammered. There are NO fundamentals to suggest a dollar revival. Maybe only a period of profit taking as most indicators show overbought levels on eur/usd