The FOMC meeting is the main event of Wednesday

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.

If the Fed is optimistic, the USD will rise;
If the Fed is pessimistic, the USD will fall.

Check the economic calendar

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Ekaterina Gorbatenko

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