Market participants eager to interpret the Fed’s tone [Video]
|We are expecting a ton of volatility today due to a heavy economic calendar starting with Australia’s Consumer Prices Index (2Q) and RBA's Lowe’s Speech in Sydney during the Asian session. The London session will kick off with the UK GDP data at 8:30 AM GMT expected to drop to 1.7% on a year-on-year basis from the previous reading of 2%. However, the BIG event of the day is no other than the FOMC rate decision at 6 PM GMT. The Fed is expected to keep rates unchanged between 1.00% and 1.25%. Market participants will be eager to interpret the Fed’s tone. Any signs of dovishness could lead to a massive sell-off for the USD, while a hawkish tone could put an end to the downtrend. Thanks for watching, invest responsibly and I wish you the best of luck making pips by trading forex.
For more from Invest Diva, click here
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.