The attention is focused on the Fed meeting

Trades on Tuesday passed fairly calmly. The pound received support against the backdrop of positive statistics. According to the Markit research group data, in April, the index of business activity in the manufacturing sector of the UK increased by 5.7% to 57.3.

During the Asian trading session, the Statistics Service of New Zealand published optimistic data on the labor market. The unemployment rate in the country decreased and amounted to 4.9% compared to the previous value of 5.2%. The indicator "employment change" increased by 0.4% and amounted to 1.2%. Market expectations were at 0.8%.

Today investors' attention will be focused on the Fed meeting. Most experts believe that the regulator will keep the target range of the interest rate at the same level (0.75-1.00%). At the moment, 4.8% of the financial markets participants believe that the Central Bank may tighten monetary policy at the upcoming meeting. At the same time, it is necessary to pay attention to the comments of the FOMC representatives.бходимо обратить внимание на комментарии представителей FOMС.

Market Indicators

The US stock market is at its historical highs. Yesterday's trading ended with a slight increase in #SPY (ETF SPDR S&P 500) by 0.04% to 238.77 USD.

The 10-year US government bonds yield is recovering, after yesterday's decline. At the moment the indicator is at the level of 2.30%.

Today, the dollar index shows positive dynamics and is in the area of 99.00.

It is necessary to pay attention to the following events:

  • – the index of business activity in the construction sector of Great Britain (11:30 GMT+3:00);
  • – data on the GDP of the euro zone (12:00 GMT+3:00);
  • – change in the number of employed in the non-agricultural sector of the US from ADP (15:15 GMT+3:00);
  • – the index of business activity in the non-manufacturing sector of the US from ISM (17:00 GMT+3:00);
  • – the FOMC statement (21:00 GMT+3:00);
  • – the decision on the Fed interest rate (21:00 GMT+3:00).
We recommend you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.