EURUSD A Day before the FOMC Meeting

The chart shows reactions from the eurusd on Jan 27.
- German import prices fell more than estimates
- IFO survey came better than expected, thank to the optimism about newly announced German spending plans.
- Euro-zone current account deficit widened in November.

FOMC will probably leave the target rate unchanged (zero to 0.25). But I think playing the FOMC rate decision is not an easy game; because:

- It is not a rate cut meeting
- Investors know the most probable message which the FOMC is likely to send (aggressive easing)
- German CPI figures will be released gradually before the meeting
- Obama's stimulus package would be discussed in the Congress as soon as tomorrow

For now, I think it may be better to wait for managing the U.S. GDP data on Friday.