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
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.”
Market Condition Evaluation based on standard indicators in Metatrader 5
newdigital, 2013.06.19 08:21
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
Last one for today about/after Federal Funds Rate : Dollar gains vs major currencies after Fed decision