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| The currencies patiently waiting on the FoMC meeting today. Dollar acting rather bearish this morning running some stops on the upside and then reversing lower than the open and also yesterdays close. That action would normally be looking to be sold but really means nothing today because the perception of the meeting today will trump everything. IMO the anticipated event will be a non event and the dollar will head lower. (Fish, I don't know where your thoughts are on this right now, and I am usually with you on everything but I just can't get bullish on this one yet) Gold and Silver having a nice pop higher might be sniffing this out. I think there is lots of money on the sidelines waiting to buy anything that a lower dollar will help. As I have alluded to before 9650 is a tough nut for the Dollar to crack. I don't think it will for a while. Yes, I am biased cuz of my positions but I have read where less than 20% of those polled (and i don't know who THEY are) say that interest rates will not rise out of this meeting. It usually takes a reading of 75% or so saying that interest rates WILL rise before they take action. With the election coming up and the powers that be clearly in the Hillary camp odds favor kicking the can down the road again until December. NO CHANGE Today. Let's hope. The grains don't need any more headwind!
Edited by buford 9/21/2016 12:58
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Big Day for the Dollar
