Oil jumped to March high, stocks are heading to record highs, while the US dollar is on the back foot.
Will the Fed surprise the market?
The Federal open market committee (FOMC) will make its monetary policy statement and announce the interest rate on March 20, 20:00 MT time. The rate hike will not happen this time, but the Federal Reserve will definitely shake the market with the hawkish comments. During the previous meeting, the Fed Chair Jerome Powell said that the financial regulator would continue its patient approach in conducting the monetary policy. He also pointed out that the current level of the interest rate was appropriate for the US economy now. His dovish comments weakened the USD. Let’s see where the Fed is heading this time.
• If the FOMC is hawkish, the USD will go up;
• If the FOMC is dovish, the USD will go down.
News geeks get ready for the chain of US reports, which starts at 15:30 MT time on November 25!
The US dollar surged yesterday after the positive US data, but turned down today. Jump in to get a market wrap!