Wednesday, May 10, 2006

Fed Day !!!

Today the Fed is expected to raise rates to 5.0%. I think the larger concern will be the comments. I am looking for the Fed to stress the need to fight rising inflation BUT that they expect inflation to decrease with the expected decrease inn economic activity. Therefore they will be going number to number for a while.

Mexico had very good inflation numbers yesterday. As such the currency strengthened. Also interest rates came off as the market is now looking for another cut in rates.

I maintain the positions that I initiated at the beginning of the month.

These are the FX Trading Ideas for today.



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