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This news event was at 06:00 am GMT time (or at 08:00 am Metaquotes demo server time): Draghi Reveals ECB's Open-mind Towards Non-Standard Measures
European Central Bank President Mario Draghi said on Tuesday that the central bank have not ruled out the possibility of negative deposit rates and other non-standard policy measures in the euro area.
Dollar rises against yen as market seeks Fed clarity
Markets will be looking to Bernanke's news conference on Wednesday after a two-day policy meeting for more clarity on the central bank's stance.
HSBC strategist Daragh Maher expects Bernanke to emphasise that any scaling back of Fed stimulus will depend on data. "While this should be generally dollar bullish, if volatility rises it could see dollar/yen lose ground."
European Central Bank chief Mario Draghi said the bank was "ready to act" if needed, although recent signs of market stabilisation meant monetary policy was proving effective.
Bernanke at Fed ‘Longer Than He Wanted’: Obama
President Barack Obama said Federal Reserve Chairman Ben S. Bernanke has stayed in his post “longer than he wanted,” one of the clearest signals the central bank chief will leave when his current term expires next year.
“Ben Bernanke’s done an outstanding job,” Obama said in an interview with Charlie Rose that aired yesterday, when asked about nominating him for another term subject to Senate approval. “He’s already stayed a lot longer than he wanted or he was supposed to.”
Just something by the end of trading day :
Dollar – Whipping Boy of Fed Watchers
The price action in the FX market today is very similar to what we saw at the beginning of last week. The U.S. dollar is trading strongly against high beta currencies such as the GBP, AUD, NZD and CAD but is weaker against the EUR and CHF. The only outlier is USD/JPY, which extended gains into the North American session. While equity futures are basically unchanged the fact that the U.S. 10 year Treasury yield is closing in on 2.2% indicates that we have a segmented market right now with deleveraging resuming in the comm dollars. It is clear that there is more confusion than clarity on the Federal Reserve intentions because the latest market swings were triggered by articles from Fed watchers speculating on what Bernanke will say on Wednesday.
Meanwhile the euro is performing well this morning thanks to the rise in Eurozone and German investor sentiment. The ZEW survey for the region rose to 30.6 from 27.6 and while investors grew less optimistic about current conditions in Germany, their confidence in future conditions improved. With the European Central Bank taking additional steps to stimulate the economy, investors are looking for a stronger recovery. The strength of the euro contrasts with the weakness of sterling and aussie. UK consumer prices increased more than expected but the GBP was driven lower by EUR/GBP buying. The AUD is the worst performer, down almost 1% against the USD after the Reserve Bank of Australia minutes reminded everyone that the central bank is looking to ease again and their views have not changed because the currency weakened. In fact, they felt the exchange rate could depreciate further over time as the terms of trade declined and a decline in terms of trade is not positive for Australia’s economy.
There will be Federal Funds Rate at 18:00 GMT time (or at 20:00 metaquotes demo server time) together with FOMC Statement - so what is the expectation about it? Read those small article.
1. Euro in demand as Fed faces crunch time
USD shade firmer on yen, but near four-month lows on euro
Euro and Swissy in demand vs emerging market currencies and A$
Tensions running high before Fed statement, Bernanke conference
Investors aching for clarity over Fed's next step, might not get it
All the major currencies marked time in Asia on Wednesday as investors waited anxiously to see if the Federal Reserve could clarify the outlook for policy without sending markets into a fresh frenzy
"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," said Barclays analyst Michael Gapen in a note.
2. Dollar mostly higher ahead of Fed commentary
The U.S. dollar traded higher against most of its major rivals during Wednesday’s Asian in what might be a sign that traders are expecting the Federal Reserve to comment on the end or tapering of its asset-buying activities when it concludes a two-day meeting later Wednesday.
In Asian trading Wednesday, EUR/USD inched up 0.05% to 1.3401 as the euro continued to climb to multi-month highs against the greenback.
This is something which was discussed externally on russian part of mql5 - Bitcoins
So, just some news about : Bitcoin-24 Exchange Resumes Long After Its Closure in April
Bitcoins-24, once the Europe’s biggest bitcoin exchanger, is now emerging bit by bit after its closure back in April by Berlin prosecutors. The indication first came when a user UNDERPAIDBITGTIME reported its successful withdrawals of Euros from the exchanger.
Later, a news alert from Bitcoin-24’s law firm, Röhl, Dehm & Partner, further cleared that the exchanger has picked up where it had left off and is expecting to notify its users by email about their due payments from Bitcoin-24′s German Commerzbank AG.
But the question arises, who will be going to apologize to Bitcoin-24 for accusing them of being allegedly involved in money laundering and fraud by Berlin prosecutors, resulting in the seizure of exchanger’s German and Polish bank accounts. Since Bitcoin-24 is coming slowly back to life, it has been announced that it might have been cleared from all the charges. Röhl-Dehm & Partner also stated, “This means that the suspicions concerning our client in relation to the alleged fraud and money laundering could not be substantiated.”
Forum
Market Condition Evaluation based on standard indicators in Metatrader 5
newdigital, 2013.06.19 08:21
Just to remind that we will have Federal Funds Rate at 18:00 GMT time (or at 20:00 metaquotes demo server time).We will see FOMC Statement together with Federal Funds Rate at 18:00 GMT time so it may be good to know about how to trade this news event :
Trading the Fed Open Market Committee (FOMC) Meeting
Although the Federal Open Market Committee (FOMC) is widely anticipated to preserve its highly accommodative policy stance in June, the fresh batch of central bank rhetoric along with the updated forecast may increase the appeal of the USD should we see a growing argument to taper the asset-purchase program. Indeed, it seems as though the FOMC is slowly moving away from its easing cycle as the U.S. economy gets on a more sustainable path, and the central bank may start to lay out a more detailed exit strategy as the committee sees a stronger recovery in the second-half of the year.
Trading the given event risk may not be as clear cut as some of our previous trades as the FOMC preserves its current policy, but a further shift in the policy outlook may spark a bullish reaction in the U.S. dollar as market participants scale back bets for more quantitative easing. Therefore, if the FOMC strikes a more hawkish tone for monetary policy and looks to taper the asset-purchase program, we will need a red, five-minute candle following the policy statement to establish a sell entry on two-lots of EURUSD. Once these conditions are fulfilled, we will place the initial stop at the nearby swing high or a reasonable distance from the entry, and this risk will generate our first target. The second objective will be based on discretion, and we will move the stop on the second lot to breakeven once the first trade hits its mark in order to preserve our profits.
Forbes : Markets On Edge Before Bernanke Speaks, Stocks Slip
A big rally Tuesday had little follow-through on Wall Street Wednesday morning, with U.S. stocks opening modestly lower. The fireworks may come later in the day though, when Federal Reserve Chairman Ben Bernanke is set to face questions at a press conference following the central bank’s latest monetary policy statment.
The Federal Open Market Committee wraps up a two-day meeting and the buzzword is taper, with market watchers waiting to hear whether Bernanke will signal a Fed plan to tap the brakes on its asset purchases. At the moment, the Fed is buying $85 billion in Treasury and mortgage-backed bonds every month, but expectations are that figure could start to shrink as soon as the September meeting.
“Everyone is waiting on the Fed, plain and simple,” says Tom Essaye. The author of the daily Sevens Report notes that after back-to-back rallies Monday and Tuesday quite a bit of expectation is priced into Wednesday’s statement and press conference. “Given that, I’m a bit nervous we’ll see a “buy the rumor/sell the Bernanke” reaction this afternoon.”
(Reuters) - Stocks fell on Wednesday, with the losses accelerating even after the Federal Reserve said it would hold steady with its monetary policy.
The central bank gave no explicit indication that it was close to pulling back on its program to buy $85 billion in bonds per month, a policy that has been a key to the market's rally this year.
Investors have speculated the Fed might start drawing down soon, contributing to a spate of volatility, though equities advanced strongly on both Monday and Tuesday ahead of the statement.
Last one for today about/after Federal Funds Rate : Dollar gains vs major currencies after Fed decision