Today’s trading Event: the FOMC Announcement


Will the EUR/USD and Gold continue to drop?

The FOMC (Federal Open Market Committee) Minutes will be published today at 19:00 GMT:

  • This event could cause a massive market reaction and traders should prepare their trading setups.
  • The market is currently pricing a 75% chance for a rate hike which explains the drop in the EUR/USD and gold.

Trading the GOLD:

  • Gold crashed yesterday to its lowest price since the start of 2010.
  • The commodity reached bottom at $1063 an ounce.
  • Traders could witness further declines from gold today if the FOMC statement will provide more good news from the U.S economy.

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Author: David Wilson