The US dollar has weakened of late, moving down on disappointing US data, but that isn’t necessarily the only reason. BTMU asks if a dovish FOMC is already priced in, and provides an answer regarding EUR/USD: Here is their view, courtesy of eFXnews: Given how calm the financial markets remain, it is clear that the key part of this evening’s FOMC announcement is not the confirmation that QE3 has been completed but that we remain some “considerable time” away from the first rate increase, says Bank of Tokyo-Mitsubishi (BTMU). “That phrase along with the “significant” under-utilisation of labour resources are both set to remain in the statement – a view that has certainly helped restore calm to the financial markets,” BTMU adds. “…For today, the FOMC will be focused on delivering the end of QE3 without any financial market fuss and to ensure that we should all expect a dovish statement,” BTMU argues. “EUR/USD can probably continue to edge higher from here but a dovish statement is well in market prices, so we don’t expect any major dollar move,” BTMU projects. For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Opinions share Read Next FOMC decision day FxPro - Forex Broker 7 years The US dollar has weakened of late, moving down on disappointing US data, but that isn't necessarily the only reason. BTMU asks if a dovish FOMC is already priced in, and provides an answer regarding EUR/USD: Here is their view, courtesy of eFXnews: Given how calm the financial markets remain, it is clear that the key part of this evening's FOMC announcement is not the confirmation that QE3 has been completed but that we remain some "considerable time" away from the first rate increase, says Bank of Tokyo-Mitsubishi (BTMU). "That phrase along with the "significant" under-utilisation of labour resources are… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
