Video: Dollar Scenarios and Pairings for GDP and FOMC Release
• The Dollar has slipped just before a critical mix of event risk after more than a month of consolidation
• We look at not just the scenarios for the event risk, but also the pairings best suited for the outcome
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A critical combination of data is due for the Dollar over the next 24 hours: 1Q US GDP and the FOMC rate decision. Relative monetary policy has proven one of the most capable fundamental drivers for the financial system through the past year, and the US has defined the hawkish central bank bearing in an otherwise dovish field. A broad growth and policy update represent the most capable combination of event risk to reverse or accelerate a theme that truly moves the market. What are the scenarios for the upcoming event risk? Has the USDollar's pre-release bearish break changed the bias for the market's response? Which pairs are better suited for different outcomes? We break down the Dollar's situation ahead of this key event risk in today's Strategy Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.