Forex Today: Fed set to trigger high volatility, oil falls, altcoins advance

Here is what you need to know on Wednesday, September 18:

  • Tension is mounting ahead of the Federal Reserve decision later today. Economists expect a 25 basis point rate cut amid slowing global growth and investment. On the other hand, rising inflation, upbeat consumer activity, and the trade detente have triggered a rethink of sorts in bond markets – the odds of a rate reduction have dropped. 
  • Currency movement has been subdued ahead of the event with EUR/USD trading below 1.11 and GBP/USD below 1.25. 
  • Oil prices have been consolidating their losses after Saudi Arabia announced it is able to restore a substantial part of its lost oil production. 
  • UK inflation figures are projected to show a decrease in headline Consumer Price Index. Canadian CPI is also projected to retreat. US building permits and housing starts are projected to hover around previous levels.
  • Cryptocurrencies: Ethereum and Ripple have been extending their gains as the Altcoin segment surges and while Bitcoin stagnates just above $10,000. 

See Federal Reserve Preview September 17-18 FOMC: Even Odds


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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD nears weekly highs as risk-on returns

The EUR/USD pair was dragged higher by a soaring Pound, now hovering around 1.1040. The market is all about sentiment, and this last dependent on Brexit and the US-China trade relationship.



GBP/USD pulls back from multi-month top amid mixed Brexit news

With Brexit tensions on paramount, GBP/USD awaits confirmation of recent rally while taking a step back to 1.2760 amid the initial Asian trading session on Wednesday. DUP, Tory and Irish members seem to dislike the UK PM’s Brexit deal.


USD/JPY in search of a firm direction, stuck in a range below mid-108.00s

The prevalent risk-on mood weighed on the JPY’s safe-haven status and extended support. A sharp fall in the US bond yields undermined the USD and failed to impress bullish traders.


Gold slumps to $1,480 area on Brexit hopes

The troy ounce of the precious metal continued to weaken in USD terms in the American trading hours as markets cheered reports claiming that the European Union (EU) and the United Kingdom (UK) are closing in on a draft Brexit deal that could be announced before the end of the day on Tuesday.

Gold News

Cryptos: Incumbents don't know to play well

The Libra project led by Facebook remains on track despite the first defections. Those who have abandoned the project are mostly payment gateways. Bitcoin's lack of tone weighs on Ethereum's mood.

Read more