rumour: The Fed Rate Hike Is Coming At 12:30 (But Here's Why It Seems Unlikely)

Jamie Coleman at ForexLive sheds more light on the Fed Discount Rate Hike rumour, noting that last time it was telegraphed a mile away.:

They have done no such market preparation this time, so I am discounting the talk of a hike.  They could have mentioned it on Tuesday in the FOMC statement Bernanke could have mentioned it in his Congressional testimony yesterday. None of that happened…

No hike, is my bet. The rumour is the hike will take place at 12:30 New York time. May want to set a stop-entry above the market in case we rip higher on short-covering…

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