With EURUSD at 1.3000, Did the Fed Make or Break a Bull Trend?
The FOMC rate decision avoided a policy decision that would have bore extreme volatility for the dollar and capital markets, but they didn't leave us without impetus and tentative trend. Instead of a clear cut QE3 like previous programs, the central bank announced a plan to purchase $45 billion in MBS until unemployment shows significant improvement. As the market weighs whether this meets or falls short of expectations and determines whether if there is enough here to carry already-elevated risk assets, we find EURUSD contemplating 1.3000 and AUDUSD measuring its drive at a 14-month trendline. Do we stall or drive ahead?
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