by Dan Norcini
Honestly, more and more that seems to be the best phrase to describe when waiting for these FOMC statements to be revealed.
If we are not seeing a case of deliberate attempts to break the back of their own currencies among these Central Bankers, then “Scotty, beam me up!”
With the Fed Fund futures showing sharp increases AHEAD of the FOMC statement of rate hike probabilities, today’s ultra dovish statement had everyone positioned on the wrong side of the currency markets yet once again. The result was yet another unleashed chaos courtesy of our Central Bankers.
The Dollar collapse, combined with the production cut numbers in oil from the EIA this morning, lit a fire under the energy markets. The fire also spread to the mining shares and into gold.