Tempered fed rate cut expectations underpinned the USD and added to the selling bias. Wednesday’s key focus will be on the Fed Chair Powell’s testimony and FOMC minutes. The EUR/USD pair remained.
Further gains for the dollar hinge on any clues on possible rate cuts in Powell’s two-part testimony before Congress that begins on Wednesday, and in the minutes of the Federal open market committee‘s.
Monetary policy will likely dictate the financial markets on Wednesday, as the Federal Reserve gets set to unveil the minutes of last month’s policy meeting. There’s not a lot of action. The Federal Open market committee (fomc) will be releasing its minutes from its last meeting at 2 p.m. ET Wednesday.
All eyes are on Wednesday’s FOMC Minutes and the beginning of the Jackson Hole Summit on Thursday. On any other week, the minutes would be big news. However, Jackson Hole will be where to get.
· FOMC Minutes Present Several Reasons for interest rate cut. wednesday was a big day. Apart from Powell’s testimony, later in the day the minutes of the latest fomc meeting hit the tape.
On Wednesday, the minutes of the last Federal Reserve Open Market Committee (FOMC) meeting are issued. The minutes will provide some guide about the likelihood of future interest rate cuts. Also on.
The Federal Open Markets Committee released its minutes Wednesday from its January meeting, showing members of the Federal Reserve are becoming increasingly more confident in.
The U.S. economic highlight at mid-week will be this afternoon’s release of the minutes from the Federal Reserve’s FOMC meeting that was held in late-September. Traders and investors will parse the report for clues on futures direction and timing of U.S. monetary policy, and also focus on comments on the U.S. economy and inflation.
· The minutes also elaborated on the dovish message delivered three weeks ago when the FOMC said it will be “patient,” signaling it had put rate hikes on hold and was prepared to be more.
The minutes from Fed’s previous meeting will be released later in the day. The dollar edged toward a three-week high against a basket of major currencies on Wednesday, as fading expectations of an.
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Volatility should build into midweek as four of the top five events for the week ahead are due out on Wednesday, July 10. Retail trader positioning is hinting at an improved environment for higher.