30.04.2014 - Traders are waiting for the signal from the Fed
U.S. stock indexes continued to consolidate near their historic highs. Further movement of the stock market will depend on the decision of Federal Open Market Committee of the U.S. Federal Reserve on monetary policy (18:00 GMT). We forecast that the monthly volume of asset purchases this time again will be reduced by $ 10 billion. Also today will be released the data on the number of new jobs in the private sector in the U.S. (12:15 GMT), which is one of the key indicators of the labor market. Also, at 12:30 GMT, will be published preliminary data on U.S. GDP growth in the first quarter.
To determine the future direction of the market, we will need new signals. Despite this we maintain a long-term negative outlook on the U.S. market.
Wish you the profits!
FXFINPRO Capital Analytical department.