At August meeting, many Fed members saw rate decision as a close call. Federal Reserve Board Chairman Ben Bernanke and his colleagues on the Federal Open Market Committee thought the decision to keep interest rates unchanged was a close call at their most recent meeting, but decided that it would be better to have more information about the economy before deciding whether or not to continue making money more expensive.
Federal Reserve policy-makers halted their rate-raising campaign for the first time in two years, expressing concern that they didn't want to push up rates too much and hurt the economy. [via AFX news]
Reaction: Dollar retreats, Dow rebounds - Opportunities to re-enter some markets
8.00pm Watchlist updated: Trend reversal for USD/CAD, USD/JPY, USD/CHF and EUR/USD
9.00pm Final update: Trend reversal for DOW
Markets | Trend | Breakout Level | Comment |
USD/CAD | Down | 1.1075 | Still holding a long position, damn! |
USD/JPY | Down | 116.53 | Avoid - big candle stick |
USD/CHF | Down | 1.2281 | Avoid - big candle stick |
GBP/USD | Down | 1.8978 | Short trade +52 pips Another short re-entered |
EUR/USD | Up | 1.2835 | Avoid - big candle stick |
spot GOLD | Down | 612.8 | Links: 1 |
DOW cash | Up | 11370 | Short trade +14 points |
CRUDE OIL | Down | 70.46 | Missed a big move |
Technorati Tags: Trader_LLoyd
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