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Webinar: FOMC Setups - Markets Primed for Yellen

Webinar: FOMC Setups - Markets Primed for Yellen

Michael Boutros, Strategist
  • USD Setups in focus ahead of quarterly FOMC meeting
  • Updated targets & invalidation levels

The FOMC is in focus as we open up the week with the dollar crosses in play heading into the release. Although the central bank is widely expected to keep interest rates unchanged, market participants will be closely eyeing the updated quarterly projections as they pertain to employment, inflation, growth & interest rates. Fed fund futures have pushed out the first material expectation for higher rates until February 2017.

That said, the risk is for a more hawkish tone to bring back expectations with the U.S. Dollar Index turning lower today from basic trendline resistance extending off the late May high. Keep in mind we also have major economic data from the UK, Australia and Canada this week- we discussed key levels in the USD crosses as well as gold & crude ahead of the releases. Continue tracking these setups and more throughout the week- Subscribe to SB Trade Desk and take advantage of the DailyFX New Subscriber Discount.

Check out SSI to see how retail crowds are positioned as well as open interest heading into the open of June trade.

Relevant Data Releases

Webinar: FOMC Setups - Markets Primed for Yellen

Help fine-tune you entries, click here to learn more about the DailyFX Grid Sight Index (GSI)

Other Setups in Play:

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Looking for trade ideas? Review DailyFX’s 2016 2Q Projections!

---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michaelon Twitter @MBForex contact him at mboutros@dailyfx.com or Click Here to be added to his email distribution list

Join Michael for Live Scalping Webinars on Mondays on DailyFX and Tuesday, Wednesday & Thursday’s on SB Trade Desk at 12:30 GMT (8:30ET)

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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