Market updates on October 17
The European Brexit Summit will gather the main attention 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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The GBP is going to be volatile today, while USD/TRY may be looking for a retest of its highs. Read more!
Bullish optimism in the market continues
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Will the situation change for the British pound?
The reports that the UK and the EU reached a deal pushed the GBP up immediately.
Market updates on October 17
The European Brexit Summit will gather the main attention today...
The aussie may move on a jobs data
Australia will publish the level of employment change and the unemployment rate at 3:30 MT on October 17.
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