Tuesday, December 12, 2006

FOMC today

The Fed will be be meeting today to discuss interest rates. The overwhelming consensus is for no change (5.25%). I expect a pretty quiet day, as the market looks for the comments following the announcement for further direction. I currently do not have and major currency positions but will be looking to sell Euro 1.3340/50 and stop out and go long on a break of 1.3370.

Foreign Exchange


Anonymous Anonymous said...

I'm going into the announcement holding short GBP/USD, hoping this will give some direction to the market, it currently seems intent on drifting slowly up.... We will see

Forex Blogger

1:52 PM  
Blogger Banker said...

It seems that the market is taking every opportunity to sell dollars. As i said earlier, I am on the sidlines for now. Good Luck

3:03 PM  

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