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FOMC Meeting Minutes

  • #1
  • First Post: Aug 29, 2006 5:13am Aug 29, 2006 5:13am
Hello guys

What is the diffrance Between :

1-FOMC Interest Rate Statement
2-FOMC Meeting Minutes
Charting Markets into the Future...MǎҖ€¥.
  • #2
  • Aug 29, 2006 5:24am Aug 29, 2006 5:24am
Quoting MaXeY
Hello guys

What is the diffrance Between :

1-FOMC Interest Rate Statement
2-FOMC Meeting Minutes

there is a good description if you click on "read" :

Investica Analysis
The Fed minutes should be firm, but markets will be forward looking on data.

Definition
The Federal Open Market Committee (FOMC) Meeting Minutes are a verbatim record of the committee's meeting held about two weeks earlier. The minutes give traders insight into the latest interest rate decision and policy shifts.
  • #3
  • Aug 29, 2006 6:52am Aug 29, 2006 6:52am
well, the fed puts out a statement that says what the new fedfund interest rate is (last meeting they held rates) and they give some commentary about the decision. then, two weeks later, the meeting minutes are released. "minutes" are a word-for-word record of a meeting.

btw, since the fed held rates in the last meeting, traders are very interested in what went on in that meeting. thats why today's minutes will probably have a huge impact on the market.
Relax and be happy.
  • #4
  • Aug 29, 2006 7:09am Aug 29, 2006 7:09am
thanx for nice teaching!!
  • #5
  • Aug 29, 2006 7:30am Aug 29, 2006 7:30am
Is today's event something that will have an immediate impact (i.e. the prices will spike all around like Friday's NFP) or is it factored in over time?
  • #6
  • Aug 29, 2006 7:33am Aug 29, 2006 7:33am
well, its not a single number, like 0.5%, so there is not an IMMEDIATE reaction. trader have to read the minutes, interpret the meaning, then place a trade. so the reaction is a bit dragged out. personally i dont like trading the minutes, the market acts pretty wierd.
Relax and be happy.
  • #7
  • Aug 29, 2006 8:35am Aug 29, 2006 8:35am
Quoting MaXeY
Hello guys

What is the diffrance Between :

1-FOMC Interest Rate Statement
2-FOMC Meeting Minutes
Here is the official site.

www.federalreserve.gov/policy.htm
Profit is where readiness meets Opportunity
  • #8
  • Aug 29, 2006 8:39am Aug 29, 2006 8:39am
Quoting merlin
well, its not a single number, like 0.5%, so there is not an IMMEDIATE reaction. trader have to read the minutes, interpret the meaning, then place a trade. so the reaction is a bit dragged out. personally i dont like trading the minutes, the market acts pretty wierd.
It is in a weird time of day to be trading for sure. I don't mind trading it though. It is one of the few that I don't mind "buying in". The best case scenario for me is to take partial profit after 20 or 30 pips and then leave some on. This report often has an initial reaction , then, "follows through" in the asian market or at european market open.
Profit is where readiness meets Opportunity
  • #9
  • Aug 29, 2006 12:12pm Aug 29, 2006 12:12pm
who has the balls to trade this one? (yes jim, i said balls)
Relax and be happy.
  • #10
  • Aug 29, 2006 12:25pm Aug 29, 2006 12:25pm
Quoting merlin
who has the balls to trade this one? (yes jim, i said balls)
NONE :
Charting Markets into the Future...MǎҖ€¥.
  • #11
  • Aug 29, 2006 12:30pm Aug 29, 2006 12:30pm
marlin

fade the news means :

like today US Consumer Confidance Spike up +20 (So u short from this point) ?

If so..... what are the list of faded news ?
Charting Markets into the Future...MǎҖ€¥.
  • #12
  • Aug 29, 2006 12:30pm Aug 29, 2006 12:30pm


Quote
[17:11 EUR/USD: With Hawkish Minutes Priced in, Further USD Gain Tough] Boston,
August 29. The two-year Treasury auction has come and gone without making an
impact on the market (despite poor indirect demand) and dealers are left to
await the FOMC minutes at 18:00 GMT. A hawkish tone is already priced for the
minutes so it is questionable weather the greenback will be able to garner any
fresh support if they live up to expectations. The risks appear to be for the
minutes not to be as hawkish as feared and for the USD to drift a bit lower
later in the day. EUR/USD is little moved, at 1.2363 as are USD/CHF and Cable.
[email protected] /rs




Couldn't have said it better myself...
  • #13
  • Aug 29, 2006 12:37pm Aug 29, 2006 12:37pm
Quoting Darkstar





Couldn't have said it better myself...
Agreed.

That was my after the fact explaination as well.
Smart money was looking for a bargain off of the meaningless sentiment #.
Profit is where readiness meets Opportunity
  • #14
  • Aug 29, 2006 1:02pm Aug 29, 2006 1:02pm
http://www.federalreserve.gov/fomc/minutes/20060808.htm

here's your minutes!
Relax and be happy.
  • #15
  • Aug 29, 2006 1:04pm Aug 29, 2006 1:04pm
damn they really screwed the bracket traders on that one! that makes two today!
Relax and be happy.
  • #16
  • Aug 29, 2006 1:09pm Aug 29, 2006 1:09pm
Wow that spike on the cable at 8pm CET today was a killer to those who straddled the news. Lucky I was long at 1.8920 =)
  • #17
  • Aug 29, 2006 1:14pm Aug 29, 2006 1:14pm
Staddle........ GOT +12
Charting Markets into the Future...MǎҖ€¥.
  • #18
  • Aug 29, 2006 1:19pm Aug 29, 2006 1:19pm
Quoting merlin
damn they really screwed the bracket traders on that one! that makes two today!
I was thinking the same thing, bucket... I mean brokers, must be happy.

What's really funny is that the poor consumer sentiment comes out and dollar rallies. Hawkish FOMC minutes and the dollar loses ground. Talk about selling the news!
  • #19
  • Aug 29, 2006 1:22pm Aug 29, 2006 1:22pm
Quoting merlin
damn they really screwed the bracket traders on that one! that makes two today!
Only the inexperienced ones.......................... L O L ! ! !
Profit is where readiness meets Opportunity
  • #20
  • Aug 29, 2006 1:26pm Aug 29, 2006 1:26pm
I personally had a LONG order on GBPUSD at 1.8935. But when I saw it move down upon release, I remove this order thinking its totally USD Bull.

Someone already mentioned that Hawkish USD had been factored in already with the recent rally. And it moved up afterwards .... :surprised:flushed:

Oh well... No worries. We'd live to trade another day.
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