Bullet Report: US Central Bank in Focus Tonight. Volatility Expected
June 14, 2017 8:42 am
Today’s most important event is the FO MC meeting, which is one of the big meetings with updated projections and a press conference. Economists expect to see the U.S. central bank hiking its rate to a target range of 1.00 to 1.25% today, though expectations for further rate increases are fading.However, some analysts are suggesting that Wednesday’s widely expected interest rate hike could be final hike of 2017.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.07% to 96.90.
Overnight, the USD dropped to a two-month low against the CAD on Tuesday, following a surge in demand for the CAD, after a senior central bank official suggested that Canadian interest rates are set to rise.
GBPUSD rose after the latest UK inflation rate hit its highest level since June 2013, rising to 2.9% from 2.7% April, well above the Bank of England’s 2% target.
Gold gained in Asia on Wednesday in cautious trade as investors awaited the latest Fed rate decision and forward-looking guidance on plans to trim its massive balance sheet. In a rising interest rate environment, investor appetite for gold weakens as the opportunity cost of holding the precious metal increases relative to other interest-bearing assets such as bonds
Today’s most important event is the FO MC meeting, which is one of the big meetings with updated projections and a press conference. Economists expect to see the U.S. central bank hiking its rate to a target range of 1.00 to 1.25% today, though expectations for further rate increases are fading.However, some analysts are suggesting that Wednesday’s widely expected interest rate hike could be final hike of 2017.
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Source: Easy Forex Forex.Info
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