Weekly Trading Foreacst: All Eyes on Fed Interest Rate Decision
A monetary policy announcement from the Federal Reserve is set to dominate price action across markets in the week ahead.
Despite the Federal Reserve’s best intentions to raise its key interest rate, it seems destined - given peripheral concerns – that the US Dollar will fall no matter what the Fed does.
The Federal Reserve’s September 17 interest rate decision may heavily impact the near to medium-term outlook for EUR/USD especially as the European Central Bank (ECB) shows a greater willingness to further embark on its easing cycle.
Rate expectations in the United Kingdom have been on a similar, albeit more consistent rollercoaster as that of their American trading partners.
Gold prices are weaker for a third consecutive week with the precious metal off by 1.5% to trade at 1104 ahead of the New York close on Friday.
Sign up for a free trial of DailyFX-Plus to have access to Trading Q&A's, educational webinars, updated speculative positioning measures, trading signals and much more!
Want to develop a more in-depth knowledge on the market and strategies? Check out the DailyFX Trading Guides we have produced on a range of topics.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.