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Investors Expect the Fed's Decision

Today the attention is focused on the Fed's meeting. Most experts believe that the regulator will raise interest rates to 1.00-1.25%. At the same time, investors remain cautious. The latest statistics on the US economy was ambiguous, which raises concerns about the Central Bank's statements and plans for monetary policy in the country. We recommend you to pay attention to the economic forecasts of the FOMC and the rhetoric of the Fed's Chairman.

During yesterday's trading, the pound recovered a significant part of the losses. The growth of the GBP/USD quotations exceeded 100 points. The UK currency gained support against the backdrop of positive data on the consumer price index and rumors about a possible coalition between the Conservative and Democratic Unionist parties.

In May, China's industrial production increased by 6.5%. Market expectations were at 6.3%.

Market Indicators

Yesterday the bullish sentiment prevailed on the US stock market. The trades ended with the growth of #SPY (SPDR S&P 500 ETF) by 0.49% to 244.55 USD.

Since the beginning of this week, the 10-year US government bonds yield is in the range of 2.19-2.22%.

The dollar index (#DX) finished the trading session in the negative zone (-0.19%).

It is necessary to pay attention to the following economic reports:

  • - Statistics on the labor market in the UK at 11:30 (GMT+3:00);
  • - The publication of data on inflation and retail sales in the US at 15:30 (GMT+3:00);
  • - Crude oil reserves in the US at 17:30 (GMT+3:00);
  • - The decision on the interest rate of the Fed and economic forecasts of the FOMC at 21:00 (GMT+3:00).
  • We advise 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.