FOMC

Traders,

Wednesday there is a FOMC meeting. Nobody is expecting the fed to change the interest rate policy, but traders are looking for language that might give them an idea as to what they are thinking. Remember, retail sales was good news, there are fewer job losses and overall the sentiment for dollar strength is coming back. So the FOMC might actually drop a hint or two about when they would raise interest rates. This meeting, being the last one of the year, is very important and has the market flat waiting for the announcement. We did make a trade today on the nzd/usd and netted 32 pips...not bad considering the hesitation of the market to move. Going forward, we look for Tuesday and Wednesday to be potentially slow trading days.

To the Summit,

4xSummit