Two strong news will be released today that might cause a tsunami in the forex world,so I advice traders to pay close attention to the following news release:
(1) Federal Open Market Committee (FOMC)
(2) Reserve Bank of New Zealand (RBNZ)
FEDERAL OPEN MARKET COMMITTEE ( FOMC)
FOMC,is a committee within a Federal Reserve System, is charged under United State law with overseeing the nation's open market operations.
It's the primary tool the FOMC uses to communicate with investors about monetary policy. It contains the outcome of their vote on interest rates and other policy measures,along with commentary about the economic conditions that influenced their votes. Most importantly, it discusses the economic outlook and offers clues on the outcome of future votes.
It is scheduled to be relased eight (8) times in a year. When it is hawkish it is good for the currency (a hawkish view is considered as positive,or bullish for the USD) and when it is dovish it is bad for the currency (a dovish view is considered as negative, or bearish).
RESERVE BANK OF NEW ZEALAND (RBNZ)
The Reserve Bank of New Zealand is the central bank of New Zealand. It was established in 1934 and is constituted under the Reserve Bank of New Zealand Act 1989. The Governor of the Reserve Bank is responsible for New Zealand's currency and opearting monetary policy.
It's among the primary tools the RBNZ uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rate and commentary about the economic conditions that influenced their decision. Most importantly, it discusses the economic outlook and offers clues on the outcome of future decisions.
It is scheduled to be relased eight (8) times in a year.
After the two news release, I will be giving details of the outcome of the trade.
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