- Major decisions left to September meeting
- Fed views risk to the downside due to Europe and fiscal cliff
- Many believed new asset purchase program could boost recovery by lowering rates
The Fed set the stage for additional QE unless the economy picks up significantly, making the meeting in September a key date for traders. In the interim, we have the ECB meeting, the German court decision on the ESM and if it is constitutionally allowed. Should make for a great September after the recent ranges!
There are some key seasonal patterns in September on Gold and other commodities. I will be sending out a watchlist over the bank holiday weekend.
Trades I'm currently in: EURNZD long, Equities and Stock Indices long....these have been going for some time.
Markets I'm currently watching: USDCAD (after talk of potential rate cuts from BOC Carney's; CAD sold off), GBPUSD long @ 1.5791, EURCAD short @ 1.2461, Gold/Silver long, AT&T long.....more detail to follow.
Of course this is an indicative watchlist, some of these trades may not trigger or I may not take them depending on factors needed for me to place a trade. This is just the Selection stage, the next two stages are Timing (waiting for the confirmation of buyers and sellers) and Management......once all three line up correctly then that is the trade to take.
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