How to trade the JPY?
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Will There Be Any Changes in US Monetary Policy?
What will happen?
The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28.
It is the primary tool the FOMC uses to communicate with investors about monetary policy. It contains the outcome of their vote on interest rates and other policy measures, along with commentary about the economic conditions that influenced their votes. Most importantly, it discusses the economic outlook and offers clues on the outcome of future votes.
Federal Reserve’s latest quarterly forecast on June 16 indicated the potential for earlier-than-expected rate hikes. That made traders rush into the USD.
How to trade on the FOMC statement?
- If the Fed sounds worried about the US economic outlook and says that monetary stimulus must stay for a longer period, the USD will fall.
- Otherwise, the greenback will get a chance to strengthen.
Instruments to trade: EUR/USD, US500, US100.
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