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[TheWolf]

Can anyone tell me more about it's impact to the market? Do we expect big moves (i.e. 100 pips +)?

[mahras]

If its drastic yes. Usually less though.

[TheWolf]

Thanks. I think any deviation from 3.5% (unlikely that it is) would cause a bit of a stir. It's probs the most important to listen to what he says before.

[Gamma_Jammer]

Wolf,

just out of interest, why did you ask the question when you are obviously well aware of what the right answer is? - no-one's going to be able to put it all that much better than what you have said.

Confused.

GJ

[TheWolf]

Hey Gamma,

I've never seen a FOMC meeting like this before, and since I trade the news, I'd like to know roughly what to expect. Since my system exploits moves that move 100+ pips, I'd like to know from past events whether it's a big mover like the NFP.

I'll demo this anyways, but still I'd like to know a rough outline of what to expect.

[Soheilsb]

Originally Posted by mahras

If its drastic yes. Usually less though.

Didn't the Fed only put 25 basis points to the rate in the previous meetings? do you expect it to be a bigger hike?

[rotex]

Wolf; what is so special about this particular FOMC that has you perked up??

The same lingo has been used "...increasing rates at a measured pace"... for quite some time...3.5, now with a target that seems to still be at least to go to 4...The PCE (personal consumption expenditures) inflation rate for June was 0. Plus, throw in the "Trimmed-Mean" PCE which excludes food & energy, is at .5 for June and over-all 12 month PCE inflation 2.1...And,blah, blah,...blah...We are going to have plenty of "code" language from Greenspan to decipher...Depending on how it's interpreted is going to make the big difference...I would guess the market will ultimately decide how it's interpreted...

What I will state (for what it's worth) is that in my field of expertise (housing industry; but tryin' to make it to 4x) I am looking forward to this month's release of the new home starts and the existing home sales as we've had record highs over the last 2 months and a "Hotter-than-hell" run for a long time. Any signifigant change in those numbers is going to be a catalyst for upcoming Fed action, and that Fed response will let everyone get a better picture of its intentions for future rate changes... Imho,(because of the volume and long-term housing uptrend we've been in). If we have a drop in the housing sector, especially new starts, there will be a perceived, dramatic impact on our over-all economy. The "Talkin' heads" have been pumping "The Chicken Little", sky is falling theory for years... Conversely, if the numbers remain same or increase again, and mostly other x factors remain constant, I think the Fed will stay on the "measured pace" course... Either way, the pundits will tell everyone what they are supposed to think,and how to react... Fear and greed will go wild and we as smart forex traders will have an opportunity to take advantage... Now, if I only knew what I was doing in the 4x, I'd be in good shape...Good tradin' to ya' Wolf, and all...