Big day for Forex market

Big day for Forex market

The FOMC will make a statement on September 16 at 21:00 MT time!

Instruments to trade: EUR/USD; USD/JPY; GBP/USD; USD/CAD

This report is significant as the Fed uses it as a primary tool for communication with investors about the future monetary policy. It includes their decision over interest rates and support measures, which are especially important in times of the coronavirus crisis. They also tell what economic circumstances have led to their resolutions.

Later on, the FOMC will hold a press conference, where officials answer unprepared questions. Therefore, they may unveil some hints for investors, which in turn will lead to fresh market volatility. Market participants usually focus on the overall tone of the statement.

  • If the Fed is pessimistic and predicts the recovery slower than expected, the USD will decline.
  • Otherwise, if the Fed is optimistic and says that the recovery goes along with expectations or even better, the USD will rise.

Check the economic calendar

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Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!

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Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

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What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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