FOMC rate statement
Federal Open Market Committee (FOMC) is due to announce its rate decision at 20:00 (MT time). The Fed’s short-term interest rates are the principal determinants of the USD nominal exchange rate. At the last meeting, the regulator’s officials left benchmark unchanged, but acknowledged significant strengthening of the US labor market and rising confidence among consumers and businesses. What they failed to do, however, is to give the market a clue on when they plan to deliver a rate hike. As a result, the question remains unresolved and traders will watch the Fed’s statement with great attention. It’s a good time to profit on the USD moves!
