During the day on Wednesday, we get the FOMC Interest-rate decision, and of course the accompanying statement. Because of this, it could be a very quiet day initially, but at the heart of the matter will be whether or not the Federal Reserve is a raise rates, or at least suggests that it can happen fairly soon. Expect a lot of volatility late in the trading day.

Gold

Looking at gold is almost imperative during one of these announcements, as it will show typically when traders around the world make of the FOMC statement. At this point in time, a move above the $1320 level for any real length of time will probably be encouraging to call buyers while a move below the $1300 level could get put buyers very active in this market.

USD/CAD

With the crude oil inventory number coming out during the day, it’s very likely that the Canadian dollar will see a certain amount of action. As the price of oil goes down, typically the USD/CAD pair goes higher. We are pressing up against significant resistance, so this point in time it looks as if the call buyers are starting to run the show. Above the 1.3250 level, they should become more encouraged.

CAC 40

The French market rose during the day on Tuesday, breaking above the €4400 level. Simply put, if we continue to grind higher and break above the top of the range for the day, it’s likely that the call buyers will continue to pressure this market. Nonetheless, expect fairly choppy conditions as there is quite a bit of noise just above.