Monday January 21 - Martin Luther King Day kept the equity markets closed as the rest of the worlds markets were melting down.
Tuesday January 22 - The Black Tuesday That Never Was
With the Europeans in mid-session the Electronic US Futures markets were looking into the abyss and the pits in Chicago were ready to open the gates. The FOMC took an unprecedented 75 basis point unscheduled cut.
The Pundits Reaction - Too Little - Too Late!
I say Bull (even if it is a Bear market) - This Fed is trying its best to navigate a storm of historic proportions - and the Fed saved billions from evaporating - at least for now. Good job Ben!
But what are you going to do January 30th?
The Risk for Currency Traders is Huge
At any moment a central bank somewhere may change rates or say something to spook a few hundred pips in a matter of seconds….
You have been warned!
Mark your calendar for January 30th, as you are invited to a free webinar here on FX Street with my live coverage before, during, and after the FOMC announcement showing you live chart analysis and commentary. Click Here to Register Now.
Jerry Furst is an active trader, educator, and Founder of Investors Education Network (IEN), he is also a Mentor and Trading Coach to Select Clients Click Here for a Free Survey and 30 Minute Consultation
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