Talking Points:
- The next 24 hours bring two pivotal rate decisions to the forefront of global markets. At 2PM ET this afternoon, we hear from the Federal Reserve at a rate decisions that’s widely-expected to bring another 25 basis point adjustment. More pressing, however, is the bank’s tolerance towards a fourth hike in 2018, along with the recent item of whether the FOMC[1] may start to host press conferences around each rate decision, as opposed to the current format of hosting press conferences after every other meeting. We looked at a couple of setups on either side of the US Dollar in yesterday’s Analyst Pick, entitled EUR/USD, USD/JPY with Bullish Prospects Ahead of FOMC, ECB, BoJ[2].
- Tomorrow brings an ECB rate decision in which market participants are looking for the initial details for how the bank may look to gradually exit their massive QE program. The current program is set to expire in September of this year, and after tomorrow’s meeting, there is only one more rate decision before that September end-date, set for July 26th.
- DailyFX Forecasts on a variety of currencies such as the US Dollar[3] or the Euro[4] are available from the DailyFX Trading Guides page[5]. If you’re looking to improve your trading approach, check out Traits of Successful Traders[6]. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide[7].
Do you want to see how retail traders are currently trading the US Dollar? Check out our IG Client Sentiment Indicator[8].
