Main market news on September 23
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
The USD may act on further actions by the Fed
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.
Similar
Will the pound keep standing?
Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
Main market movements on September 22
The market sentiment remains risk-off amid rising virus cases around the world and fears over new restrictions and lockdowns.
Latest news
US Federal Judge stopped TikTok's ban
China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
US stimulus package improved sentiment
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
The US weekly labor data is out!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.
Deposit with your local payment systems
