In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
USD: FOMC Meeting Minutes are in focus
Instruments to trade: EUR/USD, USD/JPY, GBP/USD
FOMC Meeting Minutes will be released on January 6 at 21:00 MT time. The FOMC is the Federal Open Market Committee, which is the department of the Federal Reserve. It will publish the record of the previous meeting that took place on December 16, which contains the details of the economic and financial conditions that affected the monetary policy decision. The Fed is one of the world’s most important central banks and its economic projections tend to change the market sentiment and therefore set the new vector of Forex trends. That’s why it’s a must-see for every trader! Wait for the release of the meeting minutes and check the charts.
- If the Fed is optimistic, the USD will rise.
- If the Fed is pessimistic, the USD will drop.
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices. Read the report to learn the freshest news of the day!
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Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.