Fink FX: It's Finally Fed Day!

The day of reckoning has finally arrived!

The most important Fed meeting until the next one…

Kidding.

This one is kinda special, because they’re kicking off the rate cut cycle and publishing their projections too.

It’s just the debate over 25 or 50 that’s sooooo tedious.

THEY HAVE TO LEAK - THE MARKET MUST NOT EVER BE SURPRISED

Pathetic…

In the grand scheme of things, it really doesn’t matter.

But markets are highly attuned to, and emotional about this decision, so expect volatility, and then pick a book:

There’s no good trade to hold into the meeting.

You could argue that we’ve priced in the full easing cycle and markets are liable to be disappointed, but how far that drags market is anyone’s guess.

All I see are coin flips and volatility.

After the meeting, I’m hopeful we’ll see trends pick up. I just don’t know if they’ll be extensions of the existing ones, or reversals.

In the near future, I do think the odds favour a dollar bounce, but a 50bps cut or dovish dot plot could set off a bout of reflexive USD selling first.

Anyway, here’s everything you need to know about this meeting 👇