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Global markets are buckled up for the outcome of the Federal Reserve’s policy meeting, as traders continue to starve for fresh clues about the prospects for the quantitative easing (QE) program and the next possible direction in the FX market. Stock-index futures signaled a higher open on Wall Street ahead of the Fed’s interest rate decision. As of 07:00 EST, Dow Jones futures were little changed around 15,248. S&P 500 was up at 1,646.50, while NASDAQ 100 gained 0.23% to 2,995.50. The Federal Open Market Committee (FOMC) ends its two-day policy meeting today, which is followed by a press conference by Ben S. Bernanke. The question is will Fed chairman quell market concerns over a possibly near exit of quantitative easing? Investors have been scrutinizing economic data lately to ...



Are EUR Bulls Prepared For The FOMC Decision? So far there have been no surprises - consolidation is the name of the game this morning before 'helicopter' Ben gets to his press conference. The G10 major currencies have essentially traded sideways ahead of today's FOMC economic projections, statement and rate announcements. However, for the EUR it has been a far different story up until this point. It seems that the single-currency bulls have become somewhat immune to negative EUR factors, allowing the currency to bid right up until the Fed decision. If the Fed happens to ramp up 'taper' talk this afternoon, then these EUR bulls may be in for some pain. A deteriorating dollar yield advantage has been a major driver of this latest EUR rally. Although core-EUR outright short positions were ...



Forex News and Events: Today, the key event is the FOMC meeting and the following decision on whether the Fed will taper the QE or not. In his May 22th press conference, the Fed President Bernanke had stated that if the economic data and the labor market give satisfactory signs of recovery, the Fed would start gradually tapering the monthly USD 85bn worth bond purchases by the end of 2013. As immediate reaction, the markets had started to price in the QE tapering by September 2013, the USD-bulls have invaded the fx markets, pushing the 10-year US treasury yield at 14-month highs on June 11th. Nevertheless, the US economy showed mixed performance since the last FOMC meeting. True, the nonfarm payrolls showed improvement in May, yet the unemployment increased from 7.5% to 7.6%, one step ...



Fundamental Analysis EUR "Despite mostly positive economic data for the German economy, the ZEW Indicator remains at the level of the previous month." - ZEW President Prof. Dr. Clemens Fuest Investors’ mood in Europe’s largest economy rose significantly this month, as the economy is gathering pace. Read more: FULL REPORT - Fundamental Analysis Technical Analysis EUR/USD "Markets will likely continue to view any move to withdraw policy as the first step of many and, as a result, volatility is likely to remain elevated as the market balances incoming data with Fed communications about its policy stance." - Barclays (based on Reuters) After being supported by the weekly PP for some time pair is currently hovering slightly below 1.34 and seems to be aiming at 1.345 area. Such scenario ...



The dollar steadied against its major counterparts on Wednesday’s European trading session as investors held their breath awaiting the outcome of the Federal Reserve`s policy meeting for signs on the U.S. stimulus outlook. The outcomes of Federal Open Market Committee`s policy meeting will be closely watched, as investors look for clues on whether the FOMC members think that current economic conditions are good enough to stop the ongoing easing or not. The Fed’s policy decision is due at 18:00 GMT, while Fed’s Chairman Ben Bernanke is expected to hold a press conference shortly afterwards. The dollar has been weaker recently on uncertainty over whether the Fed will decide to scale back the pace of its bond purchases, currently set at $85 billion a month, though the bond buying program ...



European Market Update Risk appetite/aversion sentiment hinges on FOMC economic outlook Notes/Observations Japan exports rise at fastest rate in 2 years; May Trade deficit was narrower than expected, and both imports and exports registered double-digit y/y gain Worries over the health of the Chinese financial system continue to simmer; Moody's warned local banks face risk from local government financing vehicles. Sweden May Unemployment falls more than expected Fed policy decision and Bernanke press conference key focus today. Fed's forecasts seen as key to taper on/off sentiment. Economic Data (JP) Japan May Nationwide Dept Store Sales Y/Y: +2.6% v -0.5% prior; Tokyo Dept Store Sales Y/Y: 5.1 v 2.1% prior (SE) Sweden Jun Consumer Confidence: 4.3 v 4.6e; Manufacturing Confidence: - ...



Morning Briefing : All eyes on Bernanke tonight What's new : Forex: Dollar slips ahead of FOMC decision Global Markets: Wall Street Higher, Nikkei follows suit FOMC decision: market expects no immediate cutback in QE purchases Overnight rates and Indices: EUR/USD 1.3385 1.3411 0.09 % USD/CHF 0.9184 0.9207 0.11 % GBP/USD 1.5618 1.5669 0.05 % USD/JPY 95 95.67 0.18 % EUR/CHF 1.2311 1.23286 0.03 % EUR/JPY 127.25 128.12 0.09 % Dow Jones 15186.30 15340.09 0.91 % Nasdaq 2974.62 3001.89 0.83 % S&P 500 1639.77 1654.19 0.77 % Nikkei 225 13107.65 13296.62 1.82 % Shanghai 2115.79 2150.82 -0.64 % Gold spot 1364.87 1370.43 0.06 % Crude Oil 98.27 98.98 0. ...



European stock markets fluctuated on Wednesday moving cautiously higher, as investors remained wary ahead of the U.S. Federal Reserve’s decision, on fears it could signal a potential slowdown in the bank’s $85 billion monthly bond buying program. - STOXX Europe 600 ticked up 0.20 percent or 0.60 points to 293.62 - Euro Stoxx 50 rose 0.14 percent or 3.75 points to 2,704.68 The outcomes of Federal Open Market Committee`s policy meeting will be closely watched, as investors look for clues on whether the FOMC members think that current economic conditions are good enough to stop the ongoing easing or not. The Fed’s policy decision is due at 18:00 GMT, while Fed’s Chairman Ben Bernanke is expected to hold a press conference shortly afterwards. Comments by Bernanke and other members of the ...



For the 24 hours to 23:00 GMT, EUR rose 0.24% against the USD and closed at 1.3394, amid upbeat Euro-zone and German sentiment figures. The European Economic Research (ZEW) indicated that the economic sentiment index in Germany rose to a reading of 38.50 in June, higher than the expected rise to 38.10. Similarly, Euro-zone’s economic sentiment index rose to a reading of 30.60 in June, higher than the expected reading of 29.40. The President of the European Central Bank, Mario Draghi indicated that central bank could use its numerous monetary policy measures like standard interest rate policy and non-standard measures, if needed to further boost the Euro area’s economy. On the US economic front, housing starts rose to a seasonally adjusted annual rate of 914K units in May, much lower than ...



EUR – USD Currently uptrend should end around 1.3404 - 1.3430 area. A correction down to below 1.3340 is expected. A rise above 1.3468 will abort the expected correction. USD – CHF There is bearish potential for a fall to 0.9163 while 0.9213 - 0.9231 resist. After this fall a recovery up to 0.9231 or 0.9250 is expected. GBP – USD One more dip to 1.5604 is likely followed by a grind higher to 1.5722. After which it can resume its downtrend. USD – JPY Strength can extend to 95.54 or even higher than 95.91 as declines are expected to find support at 94.88 or 94.59 zone. A fall below 93.85 could turn it bearish. USD – CAD Currently uptrend should end around 1.0228 - 1.0227 area. A correction down to below 1.0187 is expected. A rise above 1.0242 will abort the expected ...





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