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Federal Reserve will make a statement on November 3, 20:00 GMT+2. There we will hear about Fed’s view on the current economic situation, tapering plans, and other hawkish or dovish tones. The FOMC usually changes the statement slightly at each release. Traders focus on these changes. In 30 minutes FOMC will hold a press conference that lasts about an hour long and has 2 parts - first, a prepared statement is read, then the conference is open to press questions.
First, this statement is the primary tool the FOMC uses to communicate with investors about monetary policy. The decisions made this day not only add volatility to the market but also can change the game. For example, when FOMC started to talk about tapering seriously (August-September 2021), S&P 500 had a 6% correction that lasted for more than a month. Second, the questions at the press conference often lead to unscripted answers that create even more volatility.
The main affected assets are US 500 (S&P 500) and US 100 because tapering news affects the stock market directly. Also, gold tends to have an inverse correlation with USD, and USD tends to rise on tapering plans.
Check the economic calendar
Instruments to trade: EUR/USD, US 500, US 100, XAU/USD.
The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
The United States will publish Core PCE Price Index on Thursday at 15:30 GMT+2.
Canada will post Retail Sales and Core Retail Sales on December 21, at 15:30 GMT+2.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.
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