Let’s have a look at the economic calendar.
US dollar: forecast for Sep. 25-29
The meeting of the Federal Reserve was the main event of the past week. The Fed announced that it will start reducing its $4.5-trillion balance sheet from October. At first, monthly reductions will equal to $10 billion. Over the next year, the amount will rise to $50 billion a month. What’s more important, the Fed hinted at its plans to raise rates this year – most likely in December. New forecasts show that the FOMC members are looking forward to 3 more rate hikes in 2018. The initial reaction of the market to the Fed’s hawkish comments was very bullish. However, during the rest of the week USD bulls failed to continue their advance.
The market sentiment improved based on an ease of the trade war tensions between China and the US.
What if there's no uptrend or downtrend at the market? How to make money in a sideways market? FBS analyst Elizabeth Belugina will show you how to trade in ranges…
Watch and find out the key levels for EUR/USD, GBP/USD and NZD/USD for today!