Currency Updates:
U.S. Dollar Trading (USD) was sent into a frenzy as the FOMC decided on a bold move to purchase long term securities to the sum of $600 Billion by the end of the second quarter in 2011. Whilst maintaining existing policies and re-investing proceeds from its mortgage related holding to purchase further treasury debt, bringing the figure closer to $850 Billion ($110 Billion a month). The plan to purchase further securities is an attempt to lower borrowing cost for business and consumers, in an effort to inject fresh stimulus into the economy. The market struggled to digest the decision at first glance, as the USD whipped around against most majors. In other news ISM services was released at 54.3 above forecast of 53.5. US share markets were volatile before ending the day in positive territory with the Dow Jones 0.24%, S& P 0.27%, NASDAQ 0.27%. Jobless claims headlines US data on Thursday.
The Euro (EUR) played second fiddle to the FOMC decision, initially moving lower before spiking higher once further details were released. With little data out of the EZ, the Euro traded below the key 1.40 mark. The EURUSD traded with a low of 1.3989 a high of 1.4175 before closing at 1.4142. ECB also convenes on Thursday  
The Japanese Yen (JPY) saw the USDJPY pair track general market trends upon FOMC decision, popping higher before initially giving up gains. Focus now shifts to the BoJ meeting on Friday which will see the fifth central Bank meeting this trading week. Overall the USDJPY traded with a low of 80.57 a high of 81.56 before closing the day 81.03
The Sterling (GBP) slipped soon after the FOMC decision to extend it stimulus package before regaining a hold above 1.6100 late in the North American session. In domestic news, UK PMI Services rose to 53.2 for the month of October, from previous 52.8. The GBPUSD traded with a low of 1.6005 a high of 1.6165 before closing 1.6101. BoE meeting is scheduled on Thursday
The Australian Dollar (AUD) although punching below 0.9900 for a short period, the AUDUSD moved to firmly establish itself above parity levels to set Fresh post float highs for the second time this week. Coupled with the decision by the RBA to hike rates on Tuesday, the decision by the FOMC to extend a greater stimulus package confirmed the underlying strength in the AUD with markets switching to a &ldquo risk-on&rdquo mentality. Market now focuses on Retail Sales and Trade Balance figures during Thursday&rsquo s Asian session.   The AUDUSD traded with a low of 0.9892 and a high of 1.0063 before closing the day at 1.0053. In other news, New Zealand Unemployment fell to 6.4% from 6.9% for the 3rd Quarter, whilst employment grew by 1%, pushing the NZDUSD up above 0.7880 to be the strongest performing currency overnight. The AUDNZD fell 245 points to 1.2745 from 1.2990 shortly after the Unemployment figures. UPDATE: Aussie Retail Sales for the month of September seen at 0.3% (F&rsquo cast: 0.4%)
Oil & Gold (XAU) XAU fell by US$19.30 an ounce to US$1,337.60 with plenty of position squaring seen ahead of the FOMC meeting. Crude oil inventories fell to 2 Million barrels from previous 5 Million Barrels pushing Oil prices up by US$1.04 a barrel to US$84.94
