Market updates on June 20
What is moving the markets today
Federal Reserve makes a decision
US central bank lifted the interest rate at the March meeting. The market expects at least two more rate hikes this year. The US dollar has already strengthened much, and the central bank has to increase the interest rate to make the greenback’s rally continue.
At the last meeting of the Federal Reserve in May, it hinted at a possible rate hike in June.
The Federal Reserve will release the rate statement at 21:00 MT time on June 13.
• If the Fed raises the interest rate, the USD will move up.
• If the Fed doesn’t increase the interest rate, the USD will lose momentum.
Moreover, the Federal Reserve will hold a press conference at 21:30 MT time. In the first part, its Chairman Jerome Powell will read a statement containing comments on the economic conditions that influenced the central bank’s decision. After that, he will answer the questions of the press. Answers will create a high volatility in the market. During the press conference, traders will get clues on the future policy of the Fed.
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Pay attention to the important release for Canada
Canada will publish the level of core retail sales on June 21, at 15:30 MT.
Preview into the FOMC meeting
Pay attention: the FOMC meeting is today at 21:00 MT time
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