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Today Eye On Fed Meet :-

Federal Reserve Chairman Ben Bernanke has said that the recession is "very likely over," but the Fed isn't acting like we're in a recovery.
Economists widely believe the central bank will keep interest rates between 0% and 0.25% at the conclusion of its two-day meeting Wednesday. The Fed is also expected to say very little about its plans to wind down more than a trillion dollars in lending and bailout programs, and it will likely stay away from any overly enthusiastic language about the economic outlook.
"This will be one the quietest Fed meetings in quite some time," said Rich Yamarone, director of economic research at Argus Research. "The last thing they want to do at this stage of the game is to upset the apple cart. They're liking what they're seeing in some of the economic data, so it's just steady as she goes."
The Fed uses its rate-setting tool in an attempt to balance unemployment and inflation, typically lowering rates during a recession to boost economic activity and raising rates coming out of a downturn to stave off rampant inflation.
But experts argue that the recovery from this recession is so tenuous that the Fed is right to keep its finger off the rate-hike button for now.
"The Fed normally anticipates the recovery by raising rates, taking away the punch bowl just as the party gets interesting," said Peter Morici, professor of economics at the University of Maryland. "But this is not a normal recovery. It's tepid and weak."
Unemployment is still rising, retail sales are far from robust, manufacturers' capacity utilization remains at ultra-low levels and wages are still depressed. Home sales and new home construction are making a comeback, but they're coming off of historic lows.
Inflation not an issue for now: As a result of the still shaky economy and low consumer confidence, concerns about inflation have been mostly muted.
"If people aren't spending the money, you can't have inflation," said Morici. "If Bernanke puts a pile of money out on the street, it doesn't count if it doesn't chase goods."

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Euro Climbs on Growing Optimism

The euro climbed versus a number of currencies in the start of this week as investors’ confidence rose in the region, providing support for speculations regarding the end of the recession in the countries using the European common currency.
This week started with pending to the side of risk appetite continuing market trends perceived in the end of last week, when the euro climbed fueled by renewed attractiveness as countries like Germany indicate significant positive economic improvements, suggesting that the recession may end sooner than expected in the Eurozone. Today, the euro is also gaining on speculations that a report regarding factory orders in Germany will show an expansion in July, if confirmed, it will be the fifth consecutive month with positive figures in this sector. Currencies like the yen and the dollar lost the most versus the euro, as traders leave safety attracted by yielding in emergent markets.
The euro is likely to have a positive week, mainly versus the yen, which could be overpriced after last week’s rally, but it will be difficult for the European common currency to climb very sharply, considering that even if the region is publishing several positive reports, most of the bloc’s members still face recession and complications in different sectors of the economy.
If you want to comment on the Euro’s recent action or have any questions regarding this currency, please, feel free to reply below.