1st on Forex: FOMC - After GDP and ADP

A New Rant - For The Day!

I Have a Solution

Let the World Bank and the IMF forgive the United States Debt!

The Real FOMC Consensus Will Have to Wait for May 21st!

It appears as if the consensus is for a .25 cut from Bernanke and team this Wednesday afternoon. There are a few people echoing my pleas for the past few months that the Fed should pause - and maybe even raise rates. But the odds of that happening are pretty slim. No - the news being made today will actually have to wait until May 21st when the consensus that counts, "The Minutes" of the last two days Fed meetings are released.

A More Predictable Surprise Before the Fed Announcement?

The ADP report precursor for Friday's Non - Farm Payroll report is due out at 8:15 today - followed 15 minutes later by the US GDP report at 8:30. This GDP could be a shocker if it goes negative. The consensus for GDP growth is that the number will barely be positive and will likely be the worst GDP report in recent memory. If this does happen, it will make the Fed's job harder to decide which poison to dispense to the economy and cause more speculation ahead of the 2:15 interest rate announcement.

A Long Time Between Now and Next FOMC Meeting

The next scheduled FOMC meeting is not until June 25th! That's a long time in this current environment.... I'd bet an Amero or two that there may be a surprise between now and then that might cause a rate change between meetings - highlighting the

Dollar Dances as Core Prices Rise – Home Values Drop

So the Dollar is staging a rally and Showing Strength? Let's see the currencies are ticking wildly before the European Open. The Euro-USD is currently ticking at 1.5578 and the Pound -Dollar is at 1.9634 - Oh Yes - Here is proof - We can take comfort in the dollar strength as it is still above parity against the Canadian Loonie! So in that respect - I agree the Dollar is in Rally Mode - Party on Garth!

"No Magic Wand To Wave" - W = Double Bottom...

President Bush was quoted today as saying that there is no magic wand to wave to bring the cost of oil down.....(I'll be nice) How about a strong US Dollar George???? I mean Mr. President.... watching his Rose Garden press conference today was frightening - This man has no clue - Let's talk about batteries, and switch grass for a while - and Nuclear Energy as a solution in say.. 2013 - after the Mayan Calendar runs out....... (Have they ever figured out where they are going to store the nuclear waste yet?) I'd be happier if they just tell us an asteroid the size of Montana - Not Hannah was coming straight at us! (The distractions are crazy these days - can anyone find Obama - I mean Osama - For a few Billion Dollars - someone should be able to find him! The US wastes about $12 Billion a Month "over there" - Please show me on What! - or just get it Wright! )

The Interest Rates That Really Matter - Unaffected

To me - these interest rate decreases the Fed has implemented are doing nothing to help the average consumer. The US consumer that has been encouraged to support the world by spending for the past 40 years. That's right - the IRS check is in the mail - or directly deposited - So now drive to Disney World and spend some money! We will have your job back in a few decades. ( I love trading!)

No - Banks are raising not lowering interest rates on the average person that needs relief - Credit card users are being charged over 20% to 30%! That's criminal!

Buy The Amero - Now at IPO prices!

But $105 Dollar Oil looks great doesn't it! - after hitting $120!!! and $4.00 gasoline will soon look like a bargain after it spikes over $5.00 - and NAFTA is great for America - I agree - South America.....

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Jerry Furst is an active trader, educator, and Founder of Investors Education Network (IEN),He is available as a Mentor and Trading Coach to Select Clients Click Here for a Free Survey and 15 or 30 Minute Consultation.