What does the first Fed meeting of 2021 have for the USD?

What does the first Fed meeting of 2021 have for the USD?

 The Federal Open Market Committee (a department of the Federal Reserve) will post its statement and an update on the interest rate on January 27 at 21:00 MT time. The Press Conference with the Fed Chair Jerome Powell will happen, as usual, at 21:30 MT time.

Instruments to trade: EUR/USD, USD/JPY, GBP/USD

Wow, the first Fed statement of the year! The time flies fast. Another important thing, this is going to be the first statement after the inauguration of Joe Biden. For now, the interest rate is expected to stay at the current level for the foreseeable future as inflation remains low. At the same time, Jerome Powell expressed hopes for economic stabilization soon. With the US dollar strengthening after the long-term fall and the stimulus-friendly policies by Joe Biden, will we see the Fed Chair changing his mind? If he keeps being optimistic, the US dollar may rise to new highs. 

  • Good comments by the Fed on the economic situation will strengthen the USD.
  • Alternatively, bad or cautious news will pull it back to the lows.

Check the economic calendar




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How Energy Crisis Affects German PMI August 23, 2022, 10:30 GMT+3­­ Germany will publish Flash Manufacturing PMI data on Tuesday, August 23, at 10:30 MT time (GMT+3)…

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FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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