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Date Posted: 01:03:10 06/20/12 Wed
Author: Charisse Bartoli
Subject: Markets waiting on good news from the Fed

This morning it seems that financial markets are waiting on some good news from the Fed with slim movements on most forex pairs so far. The Fed's two day meeting ends today with investors expecting some sort of announcement on a stimulus plan. Europe continues to loom large in the background with politicians finally starting to talk about hard decisions such as financial integration. The question is whether these activities are too little too late.


The main mover this morning is the NZD/USD following worse than expected New Zealand current account data over night. The NZD/USD is down 0.34%. By contrast, the AUD/USD is flat on the day.

Elsewhere there is very little movement to speak of as traders keep their options open ahead of the Fed conference at 19.15.
Other notable set ups ahead of the Fed include the continuing downtrend in the USD/CAD. Also keep an eye on the $1640 for gold which seems to be acting as resistance.

This morning we have UK claimant count change data with the release of the minutes from the last MPC meeting at 09.30. The main event is the FOMC statement at 17.30 and the following economic projections and press conference from 19:00.

Gold as had a life of its own in recent weeks, continuing to flit between being a safe haven and a speculation vehicle. Volatility has contracted in the last few days after some huge moves at the start of the month. This could present a good opportunity for a break out trade with the Fed meeting potentially acting as a catalyst for big moves later today.

A good way to play this might be an IN/OUT trade on BetOnMarkets.com predicting that Gold (via the commodities menu) goes outside of $1550 or $1675 in 7 days time. This is using the "stays between/goes outside option" and could return 126% if successful. Get this trade now, go to:
http://goo.gl/3qYUj

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