Tomorrow afternoon at 2:15pm EST the Fed will have their quarterly Press Conference. Their conference will proceed the 12:30pm release of a FOMC statement and a 2:00pm release of the FOMC economic projections.
The first and second rounds of QE were launched in Quarter 4, November to be exact. It is worth noting that we are currently in the 4th quarter of the year which is the time of the year the Fed initiated their former QEs.
For over 40 months the unemployment rate has been over 8% and the Fed hopes to have that lowered.
The Fed’s report will contain the monetary policy ideas from the Fed.
If QE3 is announced, the EUR/USD could easily fall many hundreds of pips in the coming weeks.
Here’s the deal:
We won’t know what’s happening for sure until it happens tomorrow.
I would encourage you to develop plans for a couple possible outcomes to make sure your head is on straight just in case some major news makes a splash in the markets.
You can watch the Press Conference live tomorrow at 2:15pm by clicking here.
What could be an Earth-shaking news announcement could turn out to be a normal quarterly FOMC meeting schedule. I’ve heard both sides of the story but according to Bloomberg 2/3 of economists think the Fed is likely to announce a third round of quantitative easing.
48 Hour Dollar Outlook:
In the next 48 hours there are 9 high impact news events being released concerning the United States Dollar.
These are the upcoming dollar announcements:
PPI: Thursday 8:30am
Unemployment Claims: Thursday 8:30am
FOMC Statement: Thursday 12:30pm
FOMC Economic Projections: Thursday 2:00pm
FOMC Press Conference: Thursday 2:15pm
Core CPI: Friday 8:30am
Core Retail Sales: Friday 8:30am
Retail Sales: Friday 8:30am
Prelim Uom Consumer Sentiment: Friday 9:55am
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