I do not trade today due to the unpredictability in the markets. The Fed could do a number of things today that could bring more risk aversion into the forex market. We do not know whether they will acknowledge the bad data in the jobs market as a slow down in the economic recovery or if they just consider it a blip in the recovery. Everyone today will watch the tone of there statement as for rates it is well believed that they will hold rates steady. For me Fomc is a watch and sit on your hands day, what it will do is help to determine whether dollar strength (risk aversion) will continue in the forex markets and continue to weight on the equity markets.
good trading!!!
1 comments:
Thanks for the tip.
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