Equities are making a reasonable fist of it today, but volume is low ahead of this afternoons FOMC statement.

The Fed is highly unlikely to change rates, but their statement will be scrutinised down to the last detail as traders look for hints on economic confidence and the speed of any future changes.

US Durable goods orders unexpectedly rose today and coupled with an improved outlook from the OECD, world stock markets have recovered some of Monday’s losses throughout today.

There will be a cap on any gains until the FOMC meeting is out of the way thought, especially in the light of dire news from US new home sales.

If the Fed produces no surprises, US markets could drift meekly into the close. It may be worth waiting for the dust to settle following the FOMC statement then place some trades taking advantage of lower volatility such as Fixed Odds Barrier Range Trades.

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