The FOMC meeting minutes are scheduled for release at 6 pm GMT today and market participants will be looking for any kind of increased hawkishness in the statement. Nevertheless, the FOMC decision came weeks before the latest NFP report, it should favor the dovish point of view for the interest rates decision and the global economy outlook. As we can see from the market behavior, the FOMC warnings about the possible rate hike are not being treated with respect as market participant are giving only a 40% chance of a rate hike this year.
The US dollar index is currently trading at the golden trend-line support around the level of 95.25. In case of a breakdown, the next support will be seen at the level of 94.04 and resistance is seen at the level of 96.72.
The material has been provided by InstaForex Company – www.instaforex.com
Global macro overview for 08/10/2015:
The FOMC meeting minutes are scheduled for release at 6 pm GMT today and market participants will be looking for any kind of increased hawkishness in the statement. Nevertheless, the FOMC decision came weeks before the latest NFP report, it should favor the dovish point of view for the interest rates decision and the global economy outlook. As we can see from the market behavior, the FOMC warnings about the possible rate hike are not being treated with respect as market participant are giving only a 40% chance of a rate hike this year.
The US dollar index is currently trading at the golden trend-line support around the level of 95.25. In case of a breakdown, the next support will be seen at the level of 94.04 and resistance is seen at the level of 96.72.
The material has been provided by InstaForex Company – www.instaforex.com
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