For each major statistical, ProfesseurForex.com publishes a special article aimed at helping you to practice trading news. We remind you that you can see the results of real-time statistics at the time of their publication on our economic calendar.
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The event : The monetary policy meeting of the FOMC in the month of November
Consensus forecasts, the preceding numbers and impact usual
The markets expect the FOMC to maintain interest rates unchanged at 1.25%. The traders will be on the lookout for information on the pace of future rate hikes. Signs in favour of a rate hike in December could support USD. We remind you that we will not have new economic forecasts or speech from Yellen today.
On which currency pairs a trader this event ?
*Tip if the result is hawkish tone of the press release : Sale of NZD/USD.
*Tip if the outcome dovish tone of the press release : Sale of USD/JPY.
Why these currency pairs ?
Our experience in the trading of news and the statistical indicators that we use internally based on historical studies of volatility help us to identify the currency pairs most sensitive to the trading of news as a function of the different possible cases and the time period. It remains possible to trade the event on all the pairs related to USD.
Warning on the trading of news on the Forex
Attention, trading news is for traders warned ! Indeed, the consecutive movements to news are often violent, and the technical phenomena of retracement complicate the positioning.