Euro (EUR/USD, EUR/GBP) Analysis Markets Await the Fed’s Summary of Economic Projections for Clues The euro has recovered a large portion of losses against the dollar, as markets look to the updated quarterly forecasts known as the summary of economic projections for clues. EUR/USD dropped immediately after the ECB decided to hike interest rates, for
Share: Markets have already written the script for the Fed today: a hawkish hold, and an unchanged 2023 dot plot. Any FX action would depend on potential revisions to the 2024 dots, economists at ING report. FOMC not a huge event for the Dollar The overall message by the Fed should be supportive
Share: The index trades within a tight range just above 105.00. The FOMC meeting will take centre stage later in the session. The Fed is expected to keep rates unchanged on Wednesday. The greenback attempts some consolidative move in the low 105.00s when measured by the USD Index (DXY) ahead of the opening
US Dollar Scenarios Ahead of FOMC – Price Setups: The US dollar’s short-term uptrend remains intact ahead of the FOMC meeting. The Fed is highly likely to keep rates unchanged. The Statement of Economic Projection could be particular interest. How is the greenback likely to react? Recommended by Manish Jaradi Trading Forex News: The Strategy
Further de-risking took hold of Wall Street overnight, as the usual caution persisted in the lead-up to the Federal Open Market Committee (FOMC) meeting, albeit with some paring of losses into the latter half of the session. Treasury yields resumed their ascent to retest their multi-year highs, seemingly reflecting increased positioning for a hawkish-pause scenario
© Reuters. Investing.com – The U.S. dollar traded largely unchanged in early European trade Tuesday, drifting ahead of the start of the latest two-day Federal Reserve policy meeting, the highlight of several key central bank rate decisions this week. At 03:20 ET (07:20 GMT), the Dollar Index, which tracks the greenback against a basket of
Share: Gold price hit a two-week high at $1937.35 before retreating to $1931.77, down 0.06%. US 10-year Treasury bond yield reaches a 16-year high at 4.367%, weighing on gold. Investors keenly await the Federal Reserve’s ‘dot plots’ and updated economic projections for rate hike clues. Gold price retreats after hitting a two-week high
The pair is experiencing significant selling pressure this Tuesday as the US Dollar weakens ahead of the Federal Reserve’s interest rate decision. Meanwhile, Statistics Canada reports that the headline Consumer Price Index (CPI) expanded at a pace of 0.4%, higher than expectations of 0.2%. The annual headline inflation has also accelerated sharply to 4% against
Share: AUD/USD continues with its struggle to gain traction on Tuesday and remains confined in a range. The September RBA meeting minutes fail to impress traders or provide any meaningful impetus. Subdued USD price action lends some support as traders move to the sidelines ahead of the FOMC. The AUD/USD pair extends its
USD, S&P 500 FORECAST: U.S. dollar slides on Monday ahead of Wednesday’s FOMC decision Meanwhile, the S&P 500 treks upwards following Friday’s selloff, but its moves lack strong conviction The Fed’s monetary policy outlook will be key for financial markets in the near term Trade Smarter – Sign up for the DailyFX Newsletter Receive timely
