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The Federal Open Market Committee will publish the monetary policy decision and announce the interest rate on June 10, at 21:00 MT time.
Instruments to trade: EUR/USD, USD/JPY, USD/CHF
The FOMC stands for the Federal Open Market Committee. This is the department within the Federal Reserve of the United States, which is responsible for the monetary policy decisions. It releases the statement 8 times per year. The document contains the newest decision on the interest rate and policy measures. It also explains what economic conditions affected the decision. Based on the analysis of economic outlook, traders may get clues on future rate cuts.
We don’t expect the Federal Reserve to make any changes this time. However, the Fed Chair Jerome Powell stated several times in May that the regulator would implement more easing measures if needed. That is why we need to follow further news on the stimulus.
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).
The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
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