Wednesday, January 31, 2007

Fed Meeting today

There is a large amount of Economic data today. The key ones to watch for me are:
GDP Expected 3.0% (Bloomberg)
GDP Price Index Expected 1.5% (Bloomberg)
Chicago Purchasing Manager Expected 52.0 (Bloombrg)

and last but not least the Fed Rate Announcement. Now 99% of the market are looking for unchanged on the actual rate but the improtant thing to watch is the statement. Are the Governors leaning any particular way....

I am expecting little changed from their last meeting. I still think that rates are on hold for the next 6mths, but of course the numbers are the key factor going forward.

In the current environment I do not think there are any "home runs" in play at the moment. But there are always opportunities brewing. If you see any please let me know.

These are the FX Trading comments for today.

Good Luck and Good Forex Trading.




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