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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.
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies.
Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!
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.
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.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
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