New round of POMO starts today
A new round of Fed’s POMO (Permanent Open Market Operation) starts today and the time table published seems to be a everyday operation going for a month continuously.
The effect on currencies is direct – trash USD on the majors.
The effect on stock market is indirect – adding forces to pop the stock market staying at the current level or flowing higher.
Dominate player (Fed) showed its hand, and it is best to see how the markets you trade react to that before jumping in.