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What to expect from FOMC?
Instruments to trade: EUR/USD, EUR/GBP, EUR/JPY
This Wednesday the FOMC will give economic projections, which will have a huge impact on the Forex market. The report usually consists of Fed’s decision on interest rates and other policy measures. The Fed has already signaled that it won’t raise interest rates any time soon. In addition, it should further pump more money into the economy through its bond-buying program and ultra-cheap loans to banks. Besides, analysts expect that the central bank will emphasize downside risks amid the rising virus cases in the USA and press on Congress to act by increasing the spending. As a result, traders will expect further easing, which will drive the US dollar down. However, there is still a tiny chance that the Fed will deliver optimistic projections.
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The US will reveal Non-farm payrolls on January 7, Friday, at 15:30 GMT+2 (MetaTrader time).
The US will publish the Retail Sales on January 14, Friday, at 15:30 GMT+2.
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
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