How Much Did the US Economy Grow in Q2?
What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
What are the details of the FOMC meeting?
What will happen?
FOMC will share its Meeting Minutes on April 7, at 21:00 MT time.
The Fed Chairman Jerome Powell informed that if the situation in the US evolves as per the current dynamic, no rate hike is expected until 2023 – that’s when the US economy is expected to fully recover. While the inflation rate target is 2%, it is currently at 1.7%, and Mr. Powell made it clear they want to see the actual rate not just reach the target but be steadily slightly above it. Noting the difficulties of the labor market and the overall situation, it will take a while to manifest, too.
How to trade the Meeting Minutes?
The bulk of the rate-related information has been already released in the last session. Therefore, investors will be looking for details of what the US Fed has, and possibly, for some new additions – especially if the latter change the overall tone of the Fed’s comment. Generally, any positive data that point to a strong US domestic recovery would support the USD.
- If the Fed’s tone is optimistic about the recovery dynamics, the USD may be boosted;
- If the Fed shares dimmer points, the USD will get pressed.
Instruments to trade: GBP/USD, EUR/USD, USD/JPY, USD/CAD
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