FOMC WILL BE AT SIX FIFTEEN DUE TO BST ENDING BEFORE AMERICANS MAKE A SIMILAR ADJUSTMENT
I don't want people coming to their screens at 7pm to take a position, and miss the excitement.
I see the Dow closed the last FOMC gap, and moved north - it is looking a little stronger now, although we have had selling for a few days. A 25bps cut wouldn't surprise me. On the other hand, a 50bps cut could be partially priced in already, so a 25bps cut could lead to one hell of a ride down. I can't even consider they will hold rates steady.
If I take a position into this (and it is unlikely I will do so, not wanting to do intra-day trading any more, and not wanting to risk vital capital on news) it will be on the basis of the chart more than the ramifications for the US economy.
The Fed would print money indefinitely if it could get away with it - after all, that is what its paymasters would want. Once again, central banks will pander to financial speculators and leave everyone else out to dry.
Another (final) 50bps cut just to "settle the markets" and "avoid speculation about further rate cuts" wouldn't be impossible. If there is a 25bps cut, it might be interesting to sell the move upwards as it begins to lose momentum.
Any trade I do take will have a 40 point maximum guaranteed stop attached and not be for more than £1pp anyway, but I still feel I shouldn't take risks on intra-day anymore.
