US FOMC Rate Decision and Statement 08/12/09

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2:15pm (NY Time) US FOMC Rate Decision Forecast 0.25% Previous 0.25%

Definition
FOMC is going to release its interest rate decision today, it is likely to be an unchanged verdict keeping current Fed rate a 0.25%. As a matter of fact, Fed Fund prediction is that FOMC will keep rates unchanged from now all the way to December of 2009, where we might get a possibility of a hike

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Update
Fed statement was a bit optimistic but the asset purchase program will be extended to October, therefore market was just a bit disappointed. However, with consumer spending stabilizing and signs of recovery, this FOMC statement could be summed up as an overall positive release for the USD. Market didn’t move much except for some initial volatility, but in the long term I think it just confirms USD strength and risk appetite sentiment. This Forex News turned out to be a No Trade due to limited volatility. Watch the video and see how I evaluate this trade.

About Kelvin Ching

I'm a professional Forex trader and I have been trading for over 7 years. I was a series 3 broker and a registered CTA with the NFA, the main regulatory agency in the United States, and I have been involved at the highest levels in commodity trading. I also have a background in Information Technology, graphics design, and programming... I'm the co-founder of CurrencyNewsTrading.com, a site dedicated to fundamental analysis and news trading.

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