Gold rose, USD/CAD and USD/JPY dropped
What's moving markets on April 22? Read the report to know!
FOMC Meeting Minutes
| September meeting of the Federal Reserve brought the market a lot to digest. First of all, the Fed announced that it will start reducing its $4.5-trillion balance sheet from October. At first, monthly reductions will equal to $10 billion. Over the next year, the amount will rise to $50 billion a month. There were no surprises for the market in this announcement: traders were ready for such move and had priced it in. |
| The more interesting thing was that the Fed hinted at its plans to raise rates this year – most likely in December. Many traders had earlier disregarded such scenario, thinking that concerns about the aftermath of hurricanes Harvey, Irma and Maria would keep the Fed from increasing borrowing costs. The hawkish surprise was for the benefit of the US dollar. |
| The FOMC members also updated forecasts for the federal funds rate. It turns out that they expect 3 more rate hikes in 2018. |
| The minutes of the Fed’s September meeting will give traders more information about the central bank’s intentions. The release of this document will be a market-mover. It will influence the USD in all major pairs. |
Similar
JPMorgan finances Super League, Apple unveils new devices
Read the daily report to get the full market wrap!
The ECB Interest Rate Decision: insights for the euro
The European Central Bank is holding a meeting on April 22 at 14:45 MT time. What to watch?
Latest news
Stocks that make news this week
Check our story about the stocks that have the potential to go either up or down big time! In this article, we'll tell you about Nvidia, Apple, Philip Morris, and Coinbase.
The pack of PMIs to boost the euro
Once in a month, the euro has a very special day of increased volatility at the start of the European trading session.
USD/TRY: testing all-time highs
The relationship between the US and Turkey is not going well. Neither do things for the Turkish lira.
Deposit with your local payment systems
