The EURUSD rose somewhat Tuesday night, but the traders are very wary Wednesday. The pair is currently trading around 1.1350. With no Eurozone releases across the board today, the investors are totally focused on today's Fed meeting. The rate will most likely stay unchanged at 2.50%, but the market participants are also interested in the FOMC forecasts, which may get worse regarding the rate hikes this year.
Initially, three hikes were planned for 2019, but as we're heading to the end of Q1, the reports are very mixed, and no hike has been made yet. Is it high time to tell the investors that the economy can't support those three hikes this year? Jerome Powell, the Fed's Governor, is very likely to do that on today's press conference, if in a very much dovish way. And, in case this really happens, the greenback will be likely to fall.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.