It's being assumed by a large majority that the FOMC will/must begin lift-off later today
I'm never one for going with the flock just because, and naturally prefer to be contrarian while happily knowing, through years of trading, that the trend can indeed be your friend.
Even I'm finding it difficult to justify a no-hike call though given all the rhetoric from Yellen & Co, but similarly I never assume anything. In life, or forex markets
So before I head off ( before heading back here later to add a few thoughts on the outcome and servicing my own clients) I just want repeat my usual mantra of trading the fact not the pre-match hype and bluster
We simply can't be sure of what the FOMC will do or what their strategy statement moving forward will be so to second-guess is a game of chance at the very least
Neither do we know how much a hike has been factored in, whether it be forex, bond or equity markets.
A hawkish/dovish statement will tilt the scales and a no hike will send USD into free-fall
Could it happen ? After Draghi and the ECB failed to deliver can we be so certain of anything in these fragile times?
See you all back here later
