Is the FOMC web page the fastest place to read the press release?Ignored
DislikedOK here's my 2 cents:
The trade in the rumored hawkish statment has already occured...judging from where the eur and gbp are positioned now-i don't think the market gives a damn about the satement anymore...you might see the $ strengthen a bit-then probably retrace weaker as the market gets back to the reality of the fed keeping rates the same...
A much better trade possibility exists for the AUD/NZD pair-given the fact that the aussie rate is likely goin up...if NZ doesn't raise the rate-which i seriously doubt they are...a nice gain should be seen...now a lot of gas has already gone out of this trade as AUD has already gained about 70 pips but there could be more available when the actual announcement does come out...Ignored
DislikedYou might very well be right-do u have any charts-i'm not sure if 70 pips was seen the last 2 times...
I would also strongly suggest to listen to either BB radio or TV for their interpetation...Ignored
Disliked...I do want top learn everyone elses software that they use on FF its just alot of reading but i am readen away, dont really know where to start tho.......Ignored
DislikedAlas i cant post any charts i dont use the systems u guys use, i am using 4xme software and just print my charts out but last FOMC did have a 70 pip reversal and they were calling it a crappy trading day. I do want top learn everyone elses software that they use on FF its just alot of reading but i am readen away, dont really know where to start tho.......Ignored
DislikedFXME is the path to utter destruction as far as I am concerned (i've heard a lot of horror stories), how is it going for you? I honestly hope it goes well. Is it too confusing or too simple? do you follow their signals hard or just use it as a guide?
what does fxme do when its news time, such as today's announcement?Ignored
DislikedHi Ghostpipper, best place to start your journey might be at the MetaTrader Forum, they have many good threads for instruction and setup. The platform is very functional, versitile, and FREE !!! I've paid big bucks in the past for monthly charting subscriptions, and MetaTrader is nearly as good as the very best out there.
The EUR view:
As the FOMC statement nears, financial markets have
continued to nudge up expectations of a Fed hike early in 2007. Though the
market retains its expectation of a cut from summer 2007, the swing from
discounting a cut in Q1 by some 70% to a Q1 hike by around 15% - all in the
space of 3-weeks - has been aggressive. Lower energy prices, a more
hawkish sounding Fed and downward revisions by Fed economists to the
trend rate of growth are driving expectations. Having steered the market to a
more balanced position on rates, the question now is does the FOMC really
want markets to come away from this meeting with the view that on a
medium-term basis, growth is not slowing sufficiently to bring down inflation
and that the next move is more likely to be a hike? Notwithstanding the
importance of the Fed’s revisions, that imply the economic growth that can
be attained before inflation kicks in is lower than previously thought, we do
not think the FOMC statement will take that next step. Subsequently, there
could be a small bond market relief rally, with lower yields pulling the USD
lower too - 1.2630/40 should do it in EUR/USD. If we are wrong, however, a
more hawkish Fed risks a move down to 1.2465 - the July low. A softer than
consensus Ifo may give the USD a head-start this morning. As noted, the
USD’s sustainability to higher rate support is dependent on growth holding
up. Because some data will be weak, the USD faces intermittent bouts of
weakness and ultimately the FX market will have to make up its mind on
whether it believes the Fed will over do it and hurt growth - a USD negative.
Data this week in the shape of housing and Q3 GDP, certainly have the
capacity to influence this debate.
Dislikedso how are you guys trading this one? Which currencies? Orders or manually?Ignored