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FOMC Isn't the Only Risk Ahead...But It is the Biggest

FOMC Isn't the Only Risk Ahead...But It is the Biggest

John Kicklighter, Chief Strategist

Talking Points:

  • The Federal Reserve will present its decision on monetary policy, its statement, updated forecasts and Yellen's presser
  • Both Dollar and general risk trends will be exposed to the outcome of this important event
  • While the Fed is the biggest event, there is also: NZ GDP, Aussie employment, an SNB rate decision and more ahead

See if the DailyFX Analysts' 1Q forecasts for the Dollar, Equities and Gold is fitting market conditions as well as our favorite 2016 trading opportunities in the DailyFX Trading Guides page.

The Federal Reserve's 'quarterly' monetary policy decision is dead ahead. As one of the expanded events, there will be more to speculate upon including updated rate forecasts and Chairwoman Janet Yellen's press conference. This was already positioned to be an acute market-moving event for the US Dollar; but the recent rebound in risk-oriented assets and the unusual reactions at the other extreme of the monetary policy curve (with the BoJ and ECB) can deepen its influence. There are plenty of USD-based setups that look ready to make moves should the correct motivation be plied. However, as intense as this particular event is, traders should not have tunnel vision. The docket over the next 48 hours is dense with event risk. The end of the NPC in China, Australia and UK jobs figures, the presentation of the UK's budget, New Zealand GDP, more BoJ Governor commentary and four other rate decisions are just a few big ticket items sharing the docket with the Fed. Traders planning to dive into the fray should be cautious, but also caught up with event risk and key themes. We discuss the active trading conditions ahead in today's Trading Video.

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