Below is a chart of the Price Action leading into the FOMC Statement by the Fed on December 13th 2012 at around 19:15 GMT or 14:15 EST. Sometimes they are a few minutes late but this time they
were a few minutes early actually...anything but consistent.
Just under an hour after the New York Cash Equity Open Germany's Merkel made comments about the new ESM upper funding limit...
This is shown by the 1st green circle on the chart. The 2nd green circle shows when the FOMC Statement was given, there was no change in rates or Policy, however the statement did basically
say that the economic situation remained risky, this was enough to push the sell-off further.
Here is a link to the Side-by-side statement from the FOMC compared to the last release on November 2nd...
Here is the 5 minute chart of the EURUSD:
...and here is a 5 minute chart of the EMini S&P 500 Future of the same timeframe with green circles at the same places in time as the first chart (this is a spreadbet platform so prices are similar but might be slightly different in places)
Tuesday, December 13, 2011
FOMC Statement - EURUSD drops on Merkel Comments leading into a FOMC Statements
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