31 January 2024 – 09:17 Central Euro Time

Ahead of the Fed, both the Euro and Swiss Franc are at present below today’s Neutral Zones; the balance of the BEGOS Markets are within same, and volatility is light-to-moderate, the Euro notably having already traced 65% of its EDTR (see Market Ranges). As we saw on Monday with both the Bond and Gold, the Swiss Franc’s “Baby Blues” (see Market Trends) have moved above their -80% axis; as our regular readers know, this is indicative of higher prices ahead, albeit for the yellow metal, the negative weekly measures discussed in The Gold Update have us cautious. In addition to the FOMC’s Policy Statement, we’ve for the Econ Baro today December’s ADP Employment data and the Chi PMI, plus Q4’s Employment Cost Index.