Forex Zone (Forex Zone)
Czech markets  |  December 12, 2012 10:16:07

Waiting for more Fed action


Today ends a two-day FOMC meeting. Analysts and commentators expect that the Fed announces the next round of bond redemption. Justify its position that the Fed will want to support the fragile economic recovery, which now threatens politicians arguing about the federal budget.

Unlike the Twist, which is coming to an end, it is expected that the new program will be financed by selling short-term bonds, but the Fed also "inflate" their accounts (that prints new money).

Tale of a fragile recovery that currently threatening this or that, we've come clichéd. U.S. stock indexes are moving a few percent below its peaks and fully understand truly as the economy is so poor.
Anyway, if indeed the Fed prints more money, so we would expect gold will strengthen and weaken the USD. Tonight will be clear to all.

As regards developments inthe monitored pair EUR / USD, so that yesterday strengthened and tested up to the 1.3000 level, which we are warned yesterday. Today has traded in a narrow price range. Penetration of this range to one side or the other will be in our view a good candidate for open trade in the direction of penetration.

Until the evening, when it will be published in the level of interest rates in the USA and the opinion of the FOMC, we do not expect dramatic movement. At 20:15 will have a press conference Bernanke. His comments may have on the markets even greater impact than the actual opinion of the FOMC.

We do not want to speculate what Ben says or tells you to. Just wait and see the market and react accordingly adjust their positions. Be careful.

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