Jump in to know the key market events and trading ideas for this week!
Federal Reserve Meeting
|The Federal Reserve is expected to keep monetary policy unchanged in January after raising the federal funds rate in December.|
|The attention of the market will be focused on the central bank’s statement, which is to be released at 21:00 MT time on January 31. If the Fed is positive about the US economy and remains focused on further rate hikes, the USD will gain. If the US central bank becomes cautious, the greenback will suffer.|
USD’s rally takes a pause, while riskier assets are modestly rising.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
PMI reports from the EU, the UK, and the USA will be released during the day!
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.