US equity markets had a quiet session yesterday, as the world watches and waits for Jerome Powell and the FOMC to hand down their decision on interest rates.

While there is a level of near certainly surrounding the September rate rise. The question remains as to what the Fed will do going forward. Clearly, a December hike is still on the cards, but what lies ahead might just be the story of the session.

If the FOMC suggests that they are continuing with the hawkish trajectory headed into 2019 and 2020, then we should expect a strong response from markets including the USD.

If they decide it’s time to take their foot off the pedal, then there is every chance we’ll see some further selling in the Greenback.

Either way, I expect the majors will be a little quiet in the lead-up, as can often be the case.

Outside of the FOMC decision, we also have new home sales data and crude oil inventories which will be important data points. Particularly the oil inventories as we have seen real strength recently in both crude and brent this week.

Forex Signal Update

The FX Leaders Team had a rather busy Tuesday and managed to grab five winning signals with only the one loss.

DAX – The Dax is still pulling back after a big run-up. We might be a little quiet in equities today ahead of the FOMC.

Gold – Active Signal

Gold is still below the $1200 level and price is coiling beneath that point. That could be a little bullish for a quick snap through. But longer-term, clearly today’s FOMC decision will decide Gold’s fate.

Bitcoin – Active Signal

Bitcoin has fallen sharply from $6,800 resistance and the reports out over the last 24 hours are suggesting the man known as the ‘Toyko Whale’ is responsible. He’s in charge of unwinding the failed Mt Gox and is putting a fair bit of inventory back into the market.