Friday Trades: EUR/USD, USD/JPY, and Gold
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
How Fed comments will affect the USD?
The Federal Reserve (Fed) will announce its interest rate at 21:00 MT time on November 8.
In September, the Fed increased the interest rate by 25 basis points to 2.5%. The market doesn’t look for a rate hike this time. However, comments of the Federal Reserve will be highly important for the USD in times when Mr. Trump criticizes the Fed monetary policy.
• If the Fed is optimistic, the USD will rise.
• If the Fed is pessimistic, the USD will fall.
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