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FOMC Interest Rate Statement

  • #41
  • Dec 12, 2006 1:45pm Dec 12, 2006 1:45pm
holding long at 1.3260 EUR/USD, hoping to crack 1.3300 barrier
  • #42
  • Dec 12, 2006 1:47pm Dec 12, 2006 1:47pm
Quoting Moe
im still in the same trade as earlier, brought pound at 1.9624 still looking for that 100 pip profit.


Thatīs positive you have a virtue hard to find between traders but thereīs to many hard resistances if price can break them can go to 9730 level

http://img178.imageshack.us/img178/5...6144721oa8.png
Johann Channels and cycles are everything
  • #43
  • Dec 12, 2006 1:48pm Dec 12, 2006 1:48pm
Quoting Trader1580
two issues are housing and autos, and there was an article from bloomberg that suggested home sales may be the bottom as buyers take advantage of low prices, but in the situation right now, I believe that everyone knew the rate was going to stay the same and because of the fact that it did, it wasn't as big of a move relatively. In terms of outlook for next quarter, many believe the fed will cut rates, and that may be the explanation as to why the dollar is down. It's not because of the number today but rather the future outlook for it next quarter. The EUR has just increased rates, if the dollar stayed the same, that alone would be bearish for the dollar.
That's why it's odd that the USD weakened. People are expecting a rate cut early next year but there's no indication from the Fed that they will cut rates. I think medium term the dollar will strengthen. There are stragglers at the end of every trend.
  • #44
  • Dec 12, 2006 1:49pm Dec 12, 2006 1:49pm
agree
If I Go Broke Trying Then I Will die happy.
  • #45
  • Dec 12, 2006 2:00pm Dec 12, 2006 2:00pm
Quoting notouch
That's why it's odd that the USD weakened. People are expecting a rate cut early next year but there's no indication from the Fed that they will cut rates. I think medium term the dollar will strengthen. There are stragglers at the end of every trend.
not sure but it seems like some clauses in the minutes are very dovish.

"Economic growth has slowed over the course of the year, partly reflecting a substantial cooling of the housing market".

I think the above clause was mainly it. Fed mentioned core inflation elevated, etc... but then also said that it will moderate over time, etc...

for the long term, I believe that the fed may even raise rates depending on how the housing market does and the service ISM as well as somewhat to gas prices. The economy is "expanding at a moderate pace"


what do you think the down move was caused by? I mainly believe it was the first sentence from the fed regarding "substantial cooling" of the housing market.
  • #46
  • Dec 12, 2006 2:04pm Dec 12, 2006 2:04pm
I doubt it because the initial spike was dollar positive but the trend for the day was dollar negative so the spike just gave technical traders an opportunity to jump in. There's not always a good fundamental reason for a move in the forex markets. Also the economic news out of Germany and the UK this morning favoured the Euro and pound.
  • #47
  • Dec 12, 2006 2:10pm Dec 12, 2006 2:10pm
Quoting notouch
I doubt it because the initial spike was dollar positive but the trend for the day was dollar negative so the spike just gave technical traders an opportunity to jump in. There's not always a good fundamental reason for a move in the forex markets. Also the economic news out of Germany and the UK this morning favoured the Euro and pound.
yes you do have a point especially of the fact that nothing major from the statement besides the fact that the word "substantial" was added, which wasn't a surprise as the housing market has been a slump lately.

regarding to your one voter that would have liked otherwise, he has been favoring of raising points ever since the fed was done raising rates back in sometime early summer.
  • #48
  • Dec 12, 2006 2:19pm Dec 12, 2006 2:19pm
Quoting Trader1580
yes you do have a point especially of the fact that nothing major from the statement besides the fact that the word "substantial" was added, which wasn't a surprise as the housing market has been a slump lately.

regarding to your one voter that would have liked otherwise, he has been favoring of raising points ever since the fed was done raising rates back in sometime early summer.
i don't know about others, but I see "substantial" as a substantial word to use. Housing is in slump over some time now, but FED always talked about it as "cooling". I take this statement as a confession from FED to acknowledge, rather than resist the truth that the future economy outlook is NOT as pink as Fed tried to show. I am NOT saying the EUR/USD will jump to 1.5 or smthg, since it CAN'T! Europe is facing the same issues, which will be obvious in the near future.
  • #49
  • Dec 12, 2006 9:56pm Dec 12, 2006 9:56pm
Quoting rusty105
Care to explain?

Rusty
My name says it all.
  • #50
  • Last Post: Dec 27, 2016 12:37pm Dec 27, 2016 12:37pm
Quoting theroller
{quote} i don't know about others, but I see "substantial" as a substantial word to use.
..... that the future economy outlook is NOT as pink as Fed tried to show. I am NOT saying the EUR/USD will jump to 1.5 or smthg, since it CAN'T! Europe is facing the same issues, which will be obvious in the near future.
Wow.
A 10 year old thread resurrected!!!!!! 
Hi all

Seems we are at the same crossroads, same idiotic FED, same levels..... NOT same players
Pound was 1.97 ;--)))))
 
Happy time machine
Beware of robber banks (RB), bad advisors.
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