30 August 2006

FOMC Minutes Results



Tadi malam bisa kita lihat asyik dan serunya dunia forex. Bullish yang sepanjang pagi menguasai pergerakan harga dan berhasil memaksakan pergerakan hingga level 1.9026 memasuki sesi Amerika harus menyerah dan giliran bearish yang menekan pergerakan harga hingga ke kisaran 1.8897. Kemudian menjelang FOMC minutes, bullish kembali menguasai pergerakan. Harga running saat analisa dibuat berada di kisaran 1.8983. Saya masih berpikir range 1.9000 - 1.8800 masih tetap bertahan hingga akhir minggu ini, kecuali harga hingga New York close berhasil keluar dari range ini.

Support:1.88421.88911.8923
Resist.:1.91041.90551.9023


Saran: Buy 1.9010 Sell 1.8970

<<>>di paste dari ActionForex.com :
Dollar erased gains in early US session and fell sharply after FOMC minutes. The minutes is considered hawkish to some extent showing that the vote to pause was a close call and further rate hike is still possible. But it's not giving much surprise to the market and triggered sell-on-news selling in dollar. Overall short term picture remains mixed and market will shift focus to the coming data in the next few days for further guidance.

The minutes for the Aug 8 FOMC meeting that kept rate unchanged after 17 consecutive 25bp hike was considered to be hawkish as "many members thought that the decision to keep policy unchanged at this meeting was a close call and noted that additional firming could well be needed." However the decision of pause was made before "Members generally saw limited risk in deferring further policy tightening that might prove necessary," and "keeping policy unchanged at this meeting would allow the Committee to accumulate more information before judging whether additional firming would be necessary."

The minutes also noted slowdown in the housing market and effects of higher energy prices on household spending power and past policies were expected to moderate growth of the economy to below potential over the coming quarters.

Richmond Fed President Jeffrey Lacker, who vote for a 25bps hike, was the only dissenter in the 9-1 vote as he saw that "further tightening was needed to bring inflation down more rapidly than would be the case if the policy rate were kept unchanged." Also, he believed a slower economy would not be enough to reduce inflation