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0% Chance of Rate Increase in August???
According to Market News International, the odds of a rate increase in August has dropped from 35% June 25th, to a 0% chance today. September you ask…. on June 25th the odds were 65% odds of a .25% rate increase, today only a 12% chance. This is based on the Fed Funds Futures Rates as of 11:30 July 14, 2008.
Talking About Odds….
The Fed Funds Futures rates are often referenced to predict.. The Interest Rate from the Fed in the Future. Well, that kind of sounds like it should make sense, except that Ben Bernanke has told congress in the past that he watches the Fed Funds Futures rate as a way to gauge what to do….. Hmmmm…. sounds like a mythical snake that swallows it’s tail or something….. The thing to remember is that as quick as those odds have gone down - they can turn right back around! You are invited to watch me broadcast a live Webinar when the FOMC releases their Rate Announcement on Tuesday August 5th - info below.
Speaking of Round Abouts….
The UK posted Price Inflation at Double Digits earlier in the day and the Pound took a quick drop against the Greenback.
1 Minute Chart - Pound - Dollar - News Causes Temporary 80 Pip Drop
Short Lived Loss Gets the Head & Shoulder? Yes - No - Maybe ??
4 Hour Chart Shows Inverse Head and Shoulder Pattern Forming?
Tune in to my Special Webinar - Live Coverage of the FOMC Interest Rate Announcement on Tuesday August 5th begins at 1:30 EDT - Click Here
Jerry Furst is an active trader, educator, and Founder of Investors Education Network (IEN), He is a Mentor and Trading Coach to Select Clients Click Here for a Free Self Evaluation Survey.