The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
Will the Fed make the US dollar rise?
The release of the Federal open market committee (FOMC) meeting minutes is scheduled on February 20, at 21.00 MT time. This is a detailed record of the previous FOMC meeting, which provides the insights into the economic and financial conditions that influenced the current monetary policy by the Fed. During the last meeting, the Federal Reserve said it would be "patient" before determining its next rate move. According to the Fed Chair Jerome Powell, the current level of the interest rate is appropriate for the current state of the economy. If the release of meeting minutes contains any hints on the further steps by the Federal Reserve, the USD will be supported.
• If the FOMC is hawkish, the USD will rise;
• If the FOMC is dovish, the USD will fall.
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
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