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US stocks rallied yesterday ahead of the FOMC statement. Investors widely expect the Federal Reserve to end their quantitative easing program today. However, interest rates should remain the same. Earnings season has also been mostly positive and traders have welcomed results which have eased fears of an economic slowdown.

Asian stocks also moved higher across the region as European markets are higher today as attention has now turned to the FOMC statement at the completion of the Fed’s two day meeting.

Oil climbed after US data. The EIA will release data later today at 2:30pm GMT.

Gold is trading choppy as traders eagerly await the result of the FOMC Statement. If any hints towards raising interest rates are made we could see the metal drop below its support at 1,220.

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5 Tips for Today's Trading - 29/10

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What is it? It checks the interest rate at which banks lend balances held at the RBNZ to other banks overnight.

Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future.

Usual Effect If the number is higher than the forecast, you can expect the NZD to rise.

When? October 29th at 4:00pm Eastern Time.

Trading Tip: This announcement can greatly affect the NZD, make sure to make your trades before.

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5 Tips for Today's Trading - 29/10

Asian Shares Rise to One Month High

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Here are 5 tips for today's trading. This will help you decide where you should invest and what to look for:

 1) The End of Stimulus

The Fed is expected to announce the conclusion of its massive stimulus program this afternoon. The quantitative easing program, which lasted for six years, is widely credited with supporting the economy and driving investors back into stocks in the aftermath of the financial crisis.

In addition to the expected stimulus announcement, the Fed is also set to give more details about plans for interest rates at 2pm ET. Most investors believe the first rate hike won't occur before June 2015, and many are betting it won't happen until the end of next year or later.

Any surprise announcements could have a big impact on trading.

US stock futures were relatively flat ahead of the major Fed announcements.

 2) Facebook Flop

Shares in Facebook (FB, Tech30) are off by about 7% premarket after executives revealed plans to ramp up spending next year. Expenses in 2015 are expected to rise by as much as 75% versus the current year, which is irking investors.

Premarket data shows Facebook's fall is dragging down the Nasdaq.

3) Russia-Ukraine Gas Talks

Investors are keeping a close eye on Russia-Ukraine energy negotiations. Russian Energy Minister Alexander Novak and Ukrainian Energy Minister Yurii Prodan will attempt to hash out a temporary contract for Russia to deliver gas to Ukraine over the winter. This is a contentious matter since Russia completely cut off gas supplies to Ukraine a few months ago.

4) International Markets Overview

Major European markets are edging up in early trading.

Asian markets mostly ended with gains. The Shanghai Composite index led the pack with a 1.5% jump.

5) Tuesday Market Recap

US stocks closed higher at the close of the previous trading session. The Dow Jones industrial average gained 188 points, nearly erasing its October losses. The S&P 500 closed 1.2% higher and the Nasdaq was up 1.8%

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Asian Shares Rise to One Month High

Crude Oil Inventories (USD)

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What is it? It checks the interest rate at which depository institutions lend balances held at the Federal Reserve to other depository institutions overnight.

Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future.

Usual Effect If the number is higher than the forecast, you can expect the USD to rise.

When? October 29th at 2:00pm Eastern Time.

Trading Tip: This announcement can greatly affect the USD, make sure to make your trades before.

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Asian Shares Rise to One Month High

Crude Oil Inventories (USD)

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What is it? The FOMC usually changes the statement slightly at each release. It's these changes that traders focus on.

It's the primary tool the FOMC uses to communicate with investors about monetary policy. It contains the outcome of their vote on interest rates and other policy measures, along with commentary about the economic conditions that influenced their votes. Most importantly, it discusses the economic outlook and offers clues on the outcome of future votes.

Usual Effect If the announcement will hint towards higher interest rates, you can expect the USD to rise.

When? October 29th at 2:00pm Eastern Time.

Trading Tip: This announcement can greatly affect the USD, make sure to make your trades before.

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Asian Shares Rise to One Month High

Crude Oil Inventories (USD)

How I Made Over $30,000 a Year by Investing in Binary Options

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What is it? It checks the change in the number of barrels of crude oil held in inventory by commercial firms during the past week.

It influences the price of petroleum products which affects inflation, but also impacts growth as many industries rely on oil to produce goods.

Usual Effect: If the number is higher than the forecast, you can expect the USD to rise.

When? October 29th at 10:30am Eastern Time.

Trading Tip: This announcement can greatly affect the USD, make sure to make your trades before.

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US stocks were mixed yesterday but with little change. Sentiment was hit by falling oil prices. Trade was also subdued as investors are awaiting the result of the two day FOMC meeting beginning today. It is widely expected that the Federal Reserve will finish their bond buying program this month. However, investors are mostly waiting to hear any clues regarding increasing interest rates sooner than currently expected.

Asian stocks were also mixed today as the Dollar traded lower against the Yen. Traders were also apprehensive before Central bank meetings from both currencies. The Bank of Japan will be meeting on Friday.

European markets are higher today following earnings reports.

Oil dropped to its support level at 80.00 once again but bounced straight off it, while gold continues to trade sideways ahead of the FOMC Statement. Any hawkish remarks would be bullish for the Dollar and negative for Gold.  Traders should watch US data today as it could provide short term trading opportunities.

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