Not really…the question is how big…
We’re not likely to get much detailed discussion of the hows regarding QE but we should get plenty of talk in the FOMC minutes about the whys.
The market is expecting a dovish slant from the mionutes. If they reveal an FOMC that is the least-bit reluctant to go down that road, then perhaps we’ll se a back-up in yields and a nit of dollar strength.
The more likely outcome is the market sells the dollar, buys stocks, etc on the headlines but runs out of steam pretty quickly. 1.3885/90 remains resistance on rebounds near-term. Broken trendline resistance comes in now at 1.3935.
