It has all been about the FOMC and weakness in the AUD over the past 24 hours. It was just words, the statement, from the FOMC last evening with the FOMC leaving the Fed Funds Rate unchanged at 0.75-1.00% and not changing their guidance on when they might begin to run down their balance sheet. There were no updated forecasts at this meeting. That comes next in at the June 15 meeting. While there was also no press conference from Chair Yellen, she will have the opportunity to spell out the Fed’s views on the economy when she speaks at Brown University on Friday. You would only expect a similar upbeat message from her tomorrow. The words from the Fed were not vague at all, leaving no doubts in the mind of the market that the Fed retains a positive outlook for the US economy and will press on with their gradual removal of policy accommodation.

To mark my 1300th issue of Tradernoble Daily Commentary I am offering a special 2 year rate of Euro 2750 for my Platinum Service which includes 1 to 4  updated emails throughout the trading day. This offer is open to both new and existing members and if anyone is interested can you please contact me on bryan@tradernoble.com for details.

For anyone following my Platinum Service it made 31 points yesterday and is now ahead by 118 points for May, having made 1276 points in April, 1335 points in March, 1481 in February and 1734 in January. The previous seven months saw gains of 1351, 1971, 1582, 1142, 1782, 1682 and 2550 points respectively. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1750 points.

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